Property Focus
Affordable Khmer Housing Project Launched in Siem Reap
Advertorial: Banteay Srei Khmer Housing project, a new Khmer-style resort house with affordable prices in the high potential area of Siem Reap, has opened for sale. There are five reasons why this project is a worthwhile investment both for residential and business purposes. 1. Prime location The project is located in Banteay Srei district, a […]
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Real Estate Market Update in Q3 and Roadmap for Recovery
The Phnom Penh Real Estate Market in Q3 of 2020 remains under pressure from the COVID-19 pandemic. However, compared to other neighbouring countries, the Cambodian market shows the most significant recovery steps, according to a report from CBRE Cambodia. The same report also projects that due to the very low number of cases, thanks to […]
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To What Extent Can Foreigners Acquire Ownership of Co-owned Property?
To facilitate the business environment and foreign investment in Cambodia, especially in the construction and real estate sectors, the Cambodian government has established law regarding foreign ownership of co-owned buildings. To what extent can foreigners acquire ownership of co-owned buildings? Co-owned building refers to building or construction in which several co-owners live, such as condominiums, […]
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600 hectares of Protected Land in Sihanoukville Given to Local Tycoons for Development
The Cambodian Government has given a 600-hectare land plot carved from the 2002- mangrove forest preservation and protected area Sihanoukville to Okha Seng Nhak and his wife Ly Arpon for investment and development purposes. According to a sub-decree dated 08 June 2020, this 600-hectare land plot is located at the southern part of Sihanoukville international […]
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GDT to Strengthen Property Tax Collection Amid 3.5% Tax Revenue Growth in Q3
The General Department of Taxation (GDT) will continue to strengthen property tax collection. This news comes as tax revenue in Q3 2020 has risen to over US$2 billion, according to the GDT quarter report on 12 October. The tax revenue collected by GDT has reached US$2.2 billion or equal to 78.1% of the annual plan. […]
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Cambodian Cultural Village in Siem Reap to Shut Down Next Month
The Cambodian Cultural Village Resort will completely shut down in early November following months due to no tourists following the COVID-19 pandemic. A statement issued on 11 October by the management team said that due to the spread of COVID-19 in recent months, the number of visitors has dropped dramatically and posed severe economic and […]
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Part of the Controversial Dara Sakor Project Officially Launched
Despite sanction from the United States, part of the multi-billion-dollar Dara Sakor Project Stardeam Lake Tourism Town in Koh Kong has officially opened for sale. The official sale opening ceremony was held on 09 October with the presence of Koh Kong provincial governor Mithona Phouthorng and representatives from Union Development Group (UDG). Governor Mithona emphasised […]
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National Police Chief Urge Strengthening Security in Condos and Boreys
The National Police and the Phnom Penh Municipal Administration have issued eight new sets of guidelines for all real estate developers to practice, aiming at strengthening security and safety in condos and boreys across Phnom Penh city. The guidelines were announced during a joint meeting between the National Police Chief General Neth Savoeun and Phnom […]
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US$85 million Entertainment Centre in Kandal Prince Manor Officially Opens
Samdech Prime Minister Hun Sen presided over the grand opening ceremony of Prince Manor on the morning of 07 October, a gigantic entertainment centre in Kandal Province. Located along NR1 in Kien Svay District, about 20km from Phnom Penh city centre, Prince Manor has been developed by Chinese firm Prince Culture and Tourism Development Co., […]
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Q&A: New Capital Gains Tax & the Impacts on the Cambodian Real Estate Sector
After the Department of General Taxation (GDT) announced that all capital gains, including the profit gained from selling real estate, are subject to a 20% tax after 01 January 2022, there have been doubts regarding how exactly the new tax will be implemented. One of the leading law firms in Cambodia DFDL and renowned real […]
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