Property Focus
Century Entertainment to Relocate Casino from Sihanoukville to Dara Sakor
Century Entertainment International Holdings, one of Hong Kong’s largest casinos, will relocate its gaming floor from Sihanoukville to Dara Sakor district of Koh Kong province, according to G3 Newswire on 01 October. The operator said the gaming floor will be moved from its current location at the Sunshine Bay Hotel in Sihanoukville to a new site, as […]
Read More
Sihanouk Provincial Hall Mulls Giving Land to 53 Koh Rong & Koh Rong Samloem Families
Sihanoukville Provincial Administration is working on the possibility of giving to land to 53 families who have proof of occupying land in Sangkat Koh Rong and Sangkat Koh Rong Samloem Province, according to the administration’s announcement on 19 September. The announcement stated that those 53 families are required to submit the proof or related documents […]
Read More
New Prince Mall in Sihanoukville Opens
Sihanoukville Deputy Governor Kong Vitanak presided over the soft opening of another new mall in Sihanoukville, the Prince Mall on 01 October. Located in Sangkat 2, Sihanoukville, the project is an investment by Prince Huan You Real Estate Cambodia Group Co. Ltd and built on a total an area of 50,000 sqm. The mall comprises […]
Read More
Gov’t Allocates 8 hectares of Beoung Ta Mok Land to the Ministry of Justice
The Council of Ministers has allocated 8 hectares of Beoung Ta Mok (or Beoung Khob Srov) land to the Ministry of Justice (MOJ) to build document storage, according to the MOJ on 30 September. MOJ Secretary of State HE Kim Santepheap told Construction & Property Magazine that the decision was made following a letter from […]
Read More
Developments with Easy Access More Alluring to Investors
By Eric Wong Chon Lap Cambodians are demanding more and better homes. As a result, urban developments such as units, semi-detached houses, townhouses and shophouses within the Phnom Penh vicinity are becoming an appealing investment option. Units, semi-detached houses, townhouses and shophouses in Phnom Penh’s primary market have seen prices go up. This upward trend […]
Read More
Government Extends Property Tax Payment Deadline to 31 October
The Cambodian government has decided to extend the property tax payment deadline to 31 October 2020, according to an official notice from the General Department of Taxation (GDT)’s on 25 September. The deadline was originally set for 30 September. However, since many property owners have yet to pay their tax, the GDT decided to extend […]
Read More
Thailand Leads ASEAN Smart Cities Initiative
At the ASEAN 2019 Summit prior to the emergence of the COVID-19 pandemic, member nations discussed harnessing technology to achieve sustainable security and development and boost connectivity and cooperation. At the summit, Thailand presented the Eastern Economic Corridor (EEC) initiative with its 4.0 economic blueprint aiming to convert three provinces into smart cities and ultimately […]
Read More
Indonesia’s New Capital On Hold Due To COVID-19 Impact
Photo by: Get About Asia Indonesia’s multi-billion dollar plan to develop a new capital city on the island of Borneo have been formally put on hold as a result of the economic impact of COVID-19. Indonesia’s Minister for National Development Planning, Suharso Monoarfa, told Reuters on 19 August that “We putting as our number one […]
Read More
US-China Fight over Union Development Group Could Harm Cambodia’s FDI and Real Estate Market
Economists, analysts, and real estate experts are concerned that the geopolitical fight between US and China over the Union Development Group (UDG) in Cambodia could hurt Cambodia’s Foreign Direct Investment (FDI) and real estate market, especially in Koh Kong province. On 15 September, the US Treasury Department issued a statement imposing sanctions on the UDG […]
Read More
Fewer Occupants Seen in Rental Shophouses
By Eric Wong Chon Lap Many shophouses have signs looking for new tenants, as the commercial real estate market in Phnom Penh feels the brunt of COVID-19 which has brought a sharp decline in investment volumes and rental prices. Shophouses in Cambodia are usually 2-3 storey buildings together with ground floor spaces, usually rented out […]
Read More