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ខ្មែរ Property Focus
Global Hospitality Brand Le Meridien to Set New Standards in Sihanoukville
- 14 March 2018
Marriott International has inked an agreement with The Grand Lion Group to introduce the Le Méridien brand to Cambodia’s coastal city of Sihanoukville by 2022, according to TTR Weekly. The hotel will be part of the Gold Coast at Sihanoukville project reportedly costing more than USD200 million. The first international branded property in Sihanoukville, Le Méridien will be built on 1.67 hectares...
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Mega Plan to Create Phnom Penh Central Business District
- 10 March 2018
Prince Real Estate Group is embarking on a mega plan to create a Phnom Penh Central Business District (CBD) in Chamkar Mon area, where many embassies and government offices are located. According to their Facebook page, the Central Business District (CBD) plan consists of three mix-used development projects including Prince Central Plaza, Prince Modern Plaza, and Prince Time Plaza. Prince Ce...
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Interior Decoration of Residential Units
- 10 March 2018
As the supply of new apartments and condominiums rise, tenants are being given a variety of choices to select their preferred property. Nice interior decoration can give a competitive edge because this will make a unit more attractive than others. “Renovation would make the place look nicer and therefore could attract the potential tenants and possibly receive higher rental than those properties w...
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Lettable Residential Properties
- 10 March 2018
Since the introduction of apartment and condominium living in Phnom Penh in the early 2000s, there has been a significant growth in total amounts of rent paid by expatriates for their residential accommodation. But this will be likely to change with the significant growth in the number of apartment and condominium units. Rents for expatriate standard apartments and condominiums are likely to drop ...
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How Should Hotels Respond to the Growing Number of Tourists?
- 10 March 2018
Tourist crowd in Siem Reap The tourism sector is one of the key bright spots in the Cambodian economy, with visitor numbers continuing to grow. Hotel occupancy rates in cities like Phnom Penh, Siem Reap and Sihanoukville were at record levels in 2017. The continued growth in tourist arrivals and rising occupancy rates encouraged more hotel developments all over the cities and towns. We expec...
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Condo Prices Set to Fall
- 9 March 2018
A new report by leading real estate firm CBRE indicates that condominium prices will fall in 2018 due to saturation from thousands of new units coming onto the market as multiple large-scale projects come online. “The current supply of condos available on the market consists of 8,600 units, but by then end of this year 17 more condo projects, or the equivalent to 13,000 units, will be added int...
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Capitaland Expands Local Footprint
- 3 March 2018
Singapore’s leading property developer CapitaLand purchased the high-rise 37-storey Pearl Bank Apartments in the city-state’s Chinatown area for USD550 million in January to redevelop the site. The 288-unit is located in a prime location on a 82,376 square feet plot in Outram Park on top of Pearl Hill. According to a statement by the company, CapitaLand intends “to redevelop the site into a ...
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Safari World Phnom Penh to Open in April
- 3 March 2018
After two years of construction, the gigantic zoo Safari World Phnom Penh by L.Y.P Group is set to open for public this upcoming April, according to Agence Kampuchea Press (AKP). Located on more than 80 hectare of land in Chrouy Changva district, Safari World Phnom Penh will become the largest zoo ever of its kind in Phnom Penh and in Cambodia, with the investment value of about USD 9 million. ...
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Prices Rocket on Capital’s Shophouses
- 3 March 2018
Shophouses in emerging areas of Phnom Penh soared in price last year as investors look to capitalise on the rise of large retail outlets. A report by VTrust Appraisal showed that on average, shophouses in the Cambodian capital were fetching prices 57 percent higher than those in the previous year. Units in the mushrooming district of Sen Sok, the locations of the new Makro supermarket and th...
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Real Estate Sector Leading Credit Recipient
- 3 March 2018
The National Bank of Cambodia (NBC) reported in February that USD3.91 billion in bank loans were absorbed by the nation’s construction and real estate sectors in 2017. The two sectors represented 24.28 percent of last year's total bank loan portfolio of USD16.10 billion which was a 16.8 percent year-on-year increase from 2016. Loans to developers totalled USD1.52 billion, while home buyers a...
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