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ខ្មែរ Property Focus
Progress Update on Five Affordable Housing Projects in Cambodia
- 5 May 2021
To date, Cambodia has a total of five approved affordable housing projects, three of which are landed properties with a total of 8,331 houses, and two others are co-owned buildings with a total of 7,256 units, according to the latest data from the Ministry of Land Management, Urban Planning and Construction (MLMUPC). Here is a progress update on those five projects: 1) Arakawa Affordable Hou...
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Workplace Mobility in Cambodia 80% Below Baseline During Lockdown
- 4 May 2021
The COVID-19 pandemic has put significant pressure on the office market over the past year. The mobility of this sector has become even worse during the 2021 lockdown as people have been forced to work from home. According to Google Mobility Tracker, workplace traffic in Cambodia for April was at -80% below the baseline before February 20. Given such circumstances, what will be the future of th...
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Opening of Century Entertainment Casino in Koh Kong Delayed
- 4 May 2021
Century Entertainment International Holdings Ltd has decided to once again delay the reopening date of its casino at the new venue in Dara Sakor district, Koh Kong province, due to the continued impact of the ongoing COVID-19 community outbreak in Cambodia, reported IAG. This is the third time that the reopening has been postponed, from February to March, then again to late April. As the result...
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Authorities Suspend Four Factories in Takeo as COVID-19 Positive Cases Surge
- 3 May 2021
After some factory workers were found to be COVID-19 positive, the Takeo provincial administration has decided to temporarily suspend operations of four factories in Bati district. Over 1,200 workers are also required to undergo tests and quarantine, according to the official announcement on 3 May. The announcement stated that the four factories will be suspended from 03 May until further notic...
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Where Should You Buy Your Next Home? Why South Phnom Penh is Gaining in Popularity
- 3 May 2021
When purchasing real estate, timing and location form the two core pillars of any successful investment strategy. If you make the investment at the right time and in the right place, the results can be lucrative, satisfying, and boost your lifestyle. Thus, it’s important to really study the trends and make the right choices. Now the big question: where and when should you invest? In the four...
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Star Vegas Casino in Poipet Sees 54.9% Revenue Drop in Q1 2021
- 3 May 2021
One of the major casinos in Poipet, Star Vegas, has suffered a 54.9% drop in revenue during the first month of 2021, compared to the last and first quarter of 2020. According to IAG, the total revenue of Star Vegas in Q1 was only US$1.94 million. While the total net revenue of operation firm Donaco International Ltd also declined from US$8.33 million in the first quarter of 2020 and US$4.63 mil...
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NagaWorld to Slash 1,300 Jobs as COVID-19 Hits Profits
- 3 May 2021
Due to the large drop in profit caused by the COVID-19 pandemic, Cambodia’s largest casino NagaWorld has decided to slash 1,300 jobs, according to the South China Morning Post. These 1,300 jobs are equal to more than 15% of the total staff, who will be laid off in the next few weeks. The SCMP added that NagaWorld will calculate severance packages based on reduced wages in 2020 and using gove...
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Gov’t Sets Up New Inter-Ministerial Committee to Evaluate Request to Establish New Villages
- 30 April 2021
Prime Minister Hun Sen has decided to set up a new inter-ministerial working group to study and evaluate all proposals for the establishment of new villages nationwide, according to an official government announcement on 22 April. Secretary of State of the Ministry of Interior HE Leang Vy has been appointed as the chairman, with a representative from the Ministry of Economy and Finance as the d...
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Kampong Speu to Have Safe New Open-Air Market as COVID-19 Positive Cases Surge
- 28 April 2021
The Kampong Speu provincial administration has decided to set up a temporary open-air market inside Oknha Chhuon Kimsan’s land plot in downtown Kampong Speu to prevent the spread of COVID-19, as more positive cases are found in the province. According to the official announcement on 28 April, the market will have a total of 200 stalls, and vendors can use the stalls free of charge. HE Govern...
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How Can Foreigners Buy Land in Cambodia?
- 28 April 2021
The 1993 Cambodian Constitution states that only persons or legal entities of Khmer nationality have the right to own land. However, this law does not prohibit foreigners from investing in land in Cambodia. So, how can foreigners buy land in Cambodia? 1) Through Khmer National Nominee This method allows a foreigner to buy land by having a Cambodian representative hold the title for them. Thi...
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