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ខ្មែរ Property Focus
HLH Group comes to settlement agreement for sale of D’Seaview in Sihanoukville
- 29 May 2021
After calling off the sale in 2018 due to the buyer’s issue, Hong Lai Huat (HLH) Group’s subsidiary PH One Development has re-entered into a settlement agreement with the buyer on May 27, reported The Edge Singapore. In the agreement, both parties accept that the buyer has paid US$4.2 million according to the payment schedule provided in the sale and purchase agreement (SPA), which will be acce...
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Cambodian Government Encourages More Affordable Housing Development
- 28 May 2021
The Cambodian government is urging both domestic and foreign investors to develop more affordable housing in Cambodia in response to increasing demand. HE Benghong Socheat Khemro, Director General of the General Department of Housing of the Ministry of Land Management, Urban Planning and Construction (MLMUPC), said that the government has set out a housing national policy focusing on providing ...
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Battambang Authorities Pledge to Strengthen Crackdowns on State Land Encroachments
- 28 May 2021
The Battambang provincial administration has pledged to closely work with relevant officers to strengthen the crackdown on state land encroachments, especially in the mangrove forest area, according to an officials’ meeting on 27 May. During the meeting, Battambang Governor HE Nguon Rattanak said that the provincial administration has thus far prevented and taken action against plenty of cases....
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Real Estate Agency, Financial Firm Collaborating to Create Joint Property & Credit Evaluation System
- 28 May 2021
Vtrust Appraisal and Credit Bureau Cambodia (CBC) have inked a deal integrating databases for the real estate evaluation system and the consumer credit system, to form an inclusive digital network for quicker and more efficient property SP & loan transactions. According to Z1 News, the MoU was signed yesterday via Zoom by Vtrust Appraisal Chairman Vong Sokhal and CBC CEO Oeur Sothearoath. ...
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Giant Timber Firm to Plant 10m Trees on 8,500 ha in Cambodia
- 25 May 2021
Think Biotech, one of the largest timber companies in Cambodia, has revealed their plan to plant 10 million commercial trees on a total area of over 8,500 hectares within this year, according to a Ministry of Environment press release issued on 25 May. Think Biotech (Cambodia) Co Ltd director Lu Chu Chang said that the 10 million seedlings will be planted from May to August of 2021. Meanwhile, ...
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Chinese Investors Main Hope for Property Market Recovery, says Expert
- 25 May 2021
Real estate experts have projected that the real estate market in Cambodia will start to recover from the beginning of 2022 onwards, and Chinese investors are the biggest hope for this recovery. Chairman of the Board of Directors of CVEA and CEO of Realtor 168 Co., Ltd Mr Lim Socheat said the first reason is that China might be the first investor to return after the situation improves. "Obvi...
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Urbanland Breaks New Ground With Chankiri Palm Creek
- 25 May 2021
Award-winning local real estate developer Urbanland held the groundbreaking ceremony for their latest Borey project ‘Chankiri Palm Creek’ on the weekend of 22 May, marking the first-ever innovative green residential project in the Kour Srov area of Dangkor district, south of Phnom Penh. The event also marked the official launch of Borey Chankiri for public sales and also the official opening of...
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Land & Houses Gifted to Almost 1,000 Veteran Families in Kompong Thom & Pursat
- 24 May 2021
A total of nearly 1,000 poor and disabled veterans in Pursat and Kompong Thom have been gifted with land plots and new homes for their life of sacrifice. In Pursat province, the Cambodian Red Cross provided US$500,000 to build houses for 628 veteran families. The house is located on over 900 hectares concessional land plot in Damnak Troyeung development area in Kravanh district, where each f...
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Experts: Property Market Might Not Recover in 2021; Expected to Grow Fast in 2022
- 24 May 2021
By the end of 2020, many analysts predicted that the real estate market would recover in 2021. However, due to the recent COVID community outbreak, the growth forecast has been changed to 2022 at the earliest. Chairman of the Board of Directors of CVEA and CEO of Realtor 168 Co., Ltd Lim Socheat said that ADB has projected that the Cambodian economy will grow by about 4% in 2021, which will als...
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Home improvement retail brands look to gain a foothold in Cambodia
- 22 May 2021
With the increasing disposable income, rising consumer spending, remodel and renovation of homes; the rapid rate of urbanization of Phnom Penh, and the increasing middle-class population, these major drivers are increasing the number of new and existing home sales and home improvement businesses in Cambodia. In addition, cost control, innovation in products, better logistics, and supply chain mana...
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