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ខ្មែរ Property Focus
Sihanoukville’s economic crisis a painful adjustment toward sustainable development
- 25 March 2020
Sihanoukville, once dubbed the Macao of Cambodia, is currently facing a crisis. Unfinished construction projects are scattered everywhere around the city; numerous local citizens have been left unemployed; and most noticeably, there has been a massive decline in property rental price, leaving many house owners in debt. These issues have been mainly caused by the crackdown on illegal online gamb...
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Cambodia will need 50,000 houses per year
- 20 March 2020
Cambodia will need around 50,000 houses a year in order to supply the growing population, according to researchers’ predictions. "At present, we are responding to the housing supply for the private sector by constructing houses to fulfill the needs of the people,” said H.E. Seng Lot, Ministry of Land Management spokesperson, at a press conference organized by the Royal Government Spokesperson U...
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EuroCham hosts breakfast talk on investment opportunities in the real estate sector
- 20 March 2020
EuroCham hosted a breakfast talk on Investment Opportunities in the Non-residential Real Estate Sector, including the impact of COVID-19 and EBA removal on the sector on 12 March 2020 at Topaz Restaurant, Phnom Penh. A wide range of key potential areas of the Non-residential Real Estate Sector was discussed during the event including construction safety, the medical-industrial sector, entertain...
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83 hectares of Beoung Ta Mok granted to Phnom Penh Municipality
- 19 March 2020
Beoung Ta Mok (Beoung Khob Srov), a vast water area of 83 hectares in the northwest of the capital was granted to Phnom Penh Municipality to be developed as a national garden and public park. The municipality also plans to develop other infrastructure such as the buildings of the Central Department of Security of the National Police at the Ministry of Interior. The 83-hectare plot is divided in...
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Government approves Great Duke Hotel as COVID-19 inpatient hospital
- 17 March 2020
According to an announcement by the Cambodian Ministry of Health, the Great Duke Hotel, formally known as the Intercontinental Hotel, will be used as an emergency hospital for treating Covid-19 patients. The transformation of this central Phnom Penh hotel into a hospital was agreed by government ministries and the governor of Phnom Penh. The purpose of establishing this hospital for Covid-19...
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50% discounts in Siem Reap after government advice
- 13 March 2020
A five-star hotel in Siem Reap has announced a 50% discount from March to May on its services in response to the impact of the Coronavirus, or Covid-19, on tourism. The announcement came after Siem Reap provincial authorities called on all hotel owners in the Siem Reap area in early March 2020 to consider reducing prices and catering service fees to attract more tourists in Khmer New Year. T...
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AI to develop real estate sector in Cambodia
- 11 March 2020
Artificial intelligence, commonly known as AI, will soon take over and promote the real estate sector in Cambodia. The future of AI in the Cambodian real estate industry is about to be realized following the signing of a Memorandum of Understanding between Z1 Data Co., LTD (Cambodia), a company that uses artificial intelligence (AI) to research and analyze data in real estate and the US-based c...
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Neak Oknha Pung Kheav Se boosted Cambodia’s construction sector with US$5 billion and more to come
- 11 March 2020
In a bid to develop Cambodia’s economy, one of the kingdom’s leading businessmen, Neak Oknha Pung Kheav Se, has invested around US$5 billion on various projects over the years. In a recent exclusive interview with Construction and Property Magazine, Neak Oknha Pung Kheav Se said the Canadia Group businesses are currently divided into two segments which include financial and construction and pro...
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Samdech Techo asks developers to delay real estate payment for workers
- 10 March 2020
Covid-19 respiratory infections have caused negative effects on the economy and in particular in the property sector. In response, Cambodian Prime Minister Samdech Hun Sen requested real estate companies to provide workers with compensation and delay payments as much as possible. The request was made at the opening ceremony of National Road 55 and National Road 10 on the morning of 9 March 2020...
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Property buyers turning their attention to affordable housing
- 4 March 2020
The demand for affordable housing continues to increase as the number of middle-class citizens continues to grow. Thus, developing affordable housing as well as high-quality commercial offices will likely be the major focus for the year 2020, according to local real estate experts. The real estate sector, which is the core of Cambodia’s economic growth, is expected to grow over the next five ye...
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