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ខ្មែរ Property Focus
CBRE Market View: Total retail supply drops nearly 17%, yet more projects announced
- 12 October 2019
The newly launched Phnom Penh market view compiled by international real estate agency CBRE Cambodia shows that total retail supply over Q3 2019 has dropped by 16.9%. However, despite these figures, more projects continue to be announced. Presented during an event held at Rosewood Hotel on 10 October, the reported drop is due to the partial closer of Sovanna Shopping Centre for renovation, leav...
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Thai retail supermarket, Big C will provide more job opportunities to Cambodians
- 10 October 2019
Big C supermarket is creating additional job opportunities for local people a week after opening its first branch in Cambodia. Before the soft opening day, Big C supermarket helped to create 1,200 jobs in the area according to its project application with the Council for the Development of Cambodia (CDC). The giant retail store includes a large number of brand names currently looking for wor...
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New Sihanoukville special economic zone proposed
- 8 October 2019
Two companies have proposed 1,600 hectares of land in Sihanoukville province to be developed into a special economic zone through land reclassification, according to the provincial administration. On 07 October, Sihanoukville provincial governor H.E Kouch Chamroeun held a meeting to discuss the proposal with the Stung Hav district governor and other officials from relevant departments. The t...
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ADB says real estate credit poses challenge to Cambodia’s GDP growth
- 7 October 2019
The Asian Development Bank (ADB) has recently forecasted that Cambodia’s GDP to grow at 7.0% this year while suggesting that the country should reduce financial risk poses by credit on the real estate sector. According to the recent press release of its latest report, Cambodia’s growth remains driven by the four traditional sectors such as garments, tourism, trade, and construction, but with th...
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Real estate transactions in Cambodia remain strong
- 1 October 2019
Real estate transactions in Cambodia remaining strong is best reflected by the sharp rise in property tax, according to industry expert Sorn Seap. The General Department of Taxation (GDT) has recently collected US$1,952 million in tax revenue, of which the tax on stamp duty increased by 60.18% compared to the same period last year. (Read More) Mr Sorn Seap, founder of real estate firm Key Re...
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Shift in Chinese manufacturing drives Vietnam industrial rent rises
- 25 September 2019
The US-China trade dispute is fuelling an exodus of Chinese manufacturing to SE Asian nations with Vietnam directly benefiting. According to a new report from real estate analysts JLL Vietnam, strong demand for industrial space saw rental price rises in Q2 2019 by up to 15.8% year-on-year with average occupancy in South Vietnam’s Southern Key Economic Zone hitting 81%. Land leasing costs in ...
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The rise of international schools in Phnom Penh
- 25 September 2019
By Eric Wong Chon Lap The existing number of international schools in Phnom Penh is seeing the city have one of the highest number in Southeast Asia, as there are more accredited international schools than ever before. This is in response to the rising demand from Cambodian parents who seek culturally diverse environments, and of course the best schooling options for their kids. Apart from loca...
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Thailand’s largest ever property development underway
- 25 September 2019
Bangkok is set to see development of the largest ever private sector property initiative with the launch of the US$3.9bn, 1.8 million m2 One Bangkok complex. The five-tower complex will incorporate 500 company offices employing 60,000 people, five hotels, 1,359 condominium units and multiple shopping malls. When complete, one of the towers will be in the top 10 tallest buildings in SE Asia. ...
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A new era in the Phnom Penh housing market
- 23 September 2019
By Eric Wong Chon Lap The condominium market in Phnom Penh has slowed recently due to the accumulation of unsold stock and surge in supply. This has caused buyers to be more careful, resulting in less demand from speculators and more emphasis on real demand from the end-users. This explains why many developers are shifting their overall development portfolio to the low-rise housing market where...
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Phnom Penh Mega Mall set to open in 2020
- 20 September 2019
The Phnom Penh Mega Mall along the Russian Boulevard has opened for tenants to move in with the officially opening set for 2020. Phnom Penh Mega Mall is a 10-storey building with a total construction area of more than 100,000 square metres and is being developed by Hassan Cambodia Development Co., Ltd. Mrs Ann Sothida, Director of CBRE Cambodia, the leasing agent for the mall, said that the ...
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