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ខ្មែរ Property Focus
300,000 condo units needed by 2030
- 19 September 2019
With the lifestyles of the capital’s residents witnessing changing trends particularly among the younger generation, and while the prices of landed houses have increased, key real estate insiders say the demand for condo units will increase over the next five to ten years. Real estate experts say the current demand for condos in Phnom Penh is relatively low compared to the more affordable lande...
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The growth of co-working spaces in the office market
- 19 September 2019
By Eric Wong Chon Lap For most occupiers in the Phnom Penh office market, the typical way of leasing office premises is a traditional lease with options to renew and the tenant fitting out the space. Multinational firms and new local startup firms, however, are increasingly looking for flexible lease terms as real estate costs continue to be one of their major concerns. In some cases, it is eas...
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Government plans to establish new Siem Reap city
- 17 September 2019
At the 3rd meeting of the inter-ministerial committee for the Tourism Master Plan in Siem Reap on 16 September, the government outlined plans to establish a new Siem Reap city that would allow the construction of modern buildings. According to a Facebook post by the Ministry of Tourism, the new Siem Reap city will be 60km east of Siem Reap where construction of new mega international airport wi...
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Experts say Cambodia ready for high-end tourists
- 16 September 2019
Experts from across the hospitality industry gathered last week to discuss investment opportunities in the tourism sector, citing that Cambodia is now ready for high-end tourists. Under the theme “Hospitality and Investment Trends in Cambodia”, the event was held on 12 September 2019 at Sofitel Phnom Penh Phokeethra and was organised by London-based real estate service provider Savills Hotels. ...
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39-storey building slated for Chbar Ampov district
- 16 September 2019
A US$1 billion 39-storey commercial building is planned to be constructed in Nioth commune, Chbar Ampov district, on the east of Bassac River opposite Koh Pich City. Construction on the Vue Aston building is set to start by the end of 2019 and will be completed by 2022. The building is joint venture between Sino-Cambodia Investment Co Ltd and Mingda International Group. Comprising of a hotel...
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Collection of stamp duty on property transfers increases by 60%
- 13 September 2019
The General Department of Taxation has collected almost US$2 billion in tax revenue over an eight-month period with stamp duty on property transfers seeing the sharpest increase. According to a GDT press release dated 12 September, the department collected US$1,952 million, achieving about 85.33% of the national plan. This shows an increase of about 29.89% compared to the US$449 million collect...
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IMF Research: Increase property tax to advance economic growth in Cambodia
- 10 September 2019
A new research paper funded by the International Monetary Fund (IMF) suggests Cambodia should increase property tax to fund billions of dollars of infrastructure spending, a move that will help advance economic growth. Published on 06 September, the ‘IMF Working Paper: Advancing Inclusive Growth in Cambodia’ analyses how increasing either property tax, VAT, or income tax can secure the funding ...
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New 4-star hotel opens in Kampong Thom province
- 9 September 2019
Kampong Thom Royal Hotel & Restaurant officially opened its doors on 09 September in the heart of Kampong Thom province, adding another 87 rooms to support the tourism sector in the province. Located in Stung Sen city, Kampong Thom Royal was built with US$5 million from Cambodian investors and comprises 87 guest rooms as well as other amenities including conference rooms, a restaurant, club...
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‘Amory 7 Makara’ development phase two plots open for sale
- 9 September 2019
Real estate firm Amory has announced the launch of sales for the second phase of the ‘Amory 7 Makara’ development project over the weekend with around 300 potential customers attending the event, according to their press release. Located along National Highway No 6 to Oknha Ly Yong Phat and links to National Road 5, the ‘Amory 7 Makara’ development project will feature sales of residential buil...
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Economy Ministry: Construction and real estate sector to experience 4-year slow down
- 2 September 2019
The Ministry of Economy and Finance has forecasted that the construction and real estate sectors, the sub-sectors supporting economic growth, are to experience a slowdown from 2019 to 2022, although growth is expected to remain high. The report, which was handed to reporters during the 30 August Council of Ministers meeting, shows that the construction sector is expected to grow at a speed of 1...
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