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ខ្មែរ Property Focus
CBRE Suggests Strategies for Cambodia’s Tourism: Navigating Recovery and Charting a New Horizon
- 18 January 2024
In the wake of the global upheaval caused by the COVID-19 pandemic, Cambodia's tourism sector emerges as a beacon of recovery, though challenges linger on the path to regaining pre-pandemic glory. In 2019, Cambodia witnessed a bustling 6.5 million international tourists. The pandemic cast a shadow in 2020, plummeting arrivals to a mere 1 million. The subsequent years saw a commendable rebound, ...
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Strategic Realignment: CBRE Cambodia Director Urges Developers to Reshape Approach for 2024
- 16 January 2024
Marc Townsend, CEO of CBRE Cambodia, delivered a thought-provoking message at the "Fearless Forecast 2024" workshop, challenging real estate developers to shift their focus from new projects to optimising existing inventory. Speaking at the Oakwood Premier Hotel in Phnom Penh, Townsend emphasised the need for a strategic reorganisation of products and services to align with evolving market demands...
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Global Hospitality Firm, Banyan Group, Sets Ambitious 2024 Entry into to Cambodian Market
- 15 January 2024
Banyan Group, a hospitality juggernaut managing 12 global brands, has unveiled its monumental expansion plans for 2024, reinforcing its commitment to diverse and unparalleled luxury experiences across 22 countries, according to Travelbizmonitor on 13 January 2024. In an audacious move, Banyan Group is set to introduce 19 new properties and residences in Cambodia, China, Japan, South Korea, Viet...
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Crafting Cambodia’s Real Estate Legacy: A Time to Build & Uphold Reputations
- 15 January 2024
In the dynamic landscape of Cambodia's real estate, developers are presented with a pivotal moment – a juncture where reputations can be forged or lost for generations to come. The ongoing market fluctuations, characterised by unchanged prices and a substantial 40% drop in secondary sale values, provide a unique opportunity for strategic decision-making, according to Marc Townsend, CEO of CBRE Cam...
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Gov’t Initiates Stringent Crackdown on Large-Scale Illegal Gold Mining in Memot District, Tbong Khmum Province
- 12 January 2024
The Ministry of Mines and Energy (MME) has launched a renewed crackdown on large-scale illegal gold mining operations located in Sampov Loun village, Choam Tamao commune, Memot district, Tbong Khmum province. The ministry's proactive stance was communicated through an official press release on 10 January 2024. This decisive campaign follows previous crackdowns in September 2021 and November 202...
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UN Predicts Global Economy Down to 2.4% in 2024, Inflation Rises to Above 10% for Developing Countries
- 11 January 2024
In a pivotal economic report, the United Nations projects a slowdown in global economic growth to 2.4% by 2024, down from the estimated 2.7% in 2023, underscoring challenges surpassing earlier expectations. Both figures remain below the pre-pandemic 3% growth rate prevalent before the 19-year epidemic in 2020, according to VOA on 9 January 2024. The UN's forecast diverges from those of the Inte...
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Cambodia’s Coastal Wealth: Minister of Land Envisions $2 Billion Annual Contribution
- 11 January 2024
In a visionary statement, His Excellency Say Sam Al, Deputy Prime Minister and Minister of Land Management, Urban Planning, and Construction (MLMUPC), revealed the immense economic potential of the Cambodian Sea, projecting a substantial annual contribution of approximately US$2 billion to the nation. The declaration came during a pivotal meeting on 8 January 2024, convened to assess the progress ...
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Cambodia Airways Elevates Connectivity with Launch of Phnom Penh-Chongqing Flights
- 10 January 2024
In a strategic move to enhance trade links with China and bolster tourism, Cambodia Airways inaugurated direct flights from Phnom Penh to Chongqing on 6 January. The twice-weekly round-trip flights, operational on Mondays and Saturdays, aim to fortify ties between Cambodia and China, especially in the aftermath of the global crisis, according to Tin Media on 4 January 2024. The airline, already...
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Sihanoukville Takes the Crown for Best New Year Celebration in 2024
- 8 January 2024
In a resplendent declaration, Sihanoukville clinches the prestigious title of "Best Countdown City of the Year" for its unparalleled New Year celebration, triumphing over Battambang and Siem Reap. This announcement, dated 5 January 2024, is a result of the keenly contested competition organized by the National Committee for Clean City Assessment (NCCCA) and the Ministry of Tourism. The "Best Co...
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Sihanoukville Enhances Connectivity with Government Initiative: Free Wi-Fi Unveiled in Key Public Areas
- 8 January 2024
In a strategic move to bolster connectivity and foster digital accessibility, the Sihanoukville Provincial Department of Posts and Telecommunications has successfully implemented a Public Wi-Fi project in prominent public spaces and major entertainment hubs within Sihanoukville. Chaired by Mr Yus Sothea, Director of the Department of Posts and Telecommunications of Preah Sihanouk Province, a me...
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