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ខ្មែរ Property Focus
Chinese Police Initiates Probe into Zhongzhi Bankruptcy with US$60m Debt
- 5 December 2023
In a significant turn of events, Beijing police have officially launched an investigation into Zhongzhi, a colossal financial conglomerate, following its recent descent into debt and subsequent bankruptcy. This is according to the publication of Hong Kong media The Standard published on 26 November 2023. Despite its low profile, Zhongzhi has played a pivotal role in the financial landscape, att...
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USAID Pledges US$24M to Propel Biodiversity and Conservation Initiatives in Cambodia
- 5 December 2023
USAID unveils a groundbreaking five-year project, injecting US$24 million into safeguarding biodiversity and natural resources while enhancing the well-being of Cambodian communities. The official announcement was made through a USAID press release on December 4, 2023. Through the "USAID Conservation" project, the focus is on empowering communities to spearhead initiatives that create local emp...
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Gov’t Designates Four Areas as Techo Historical Heritage for Cultural &Tourism Development
- 4 December 2023
The Cambodian government has officially designated four areas, collectively known as the Techo Historical Heritage Area, in Sub-Decree No. 155 dated 11 July 2023. These areas encompass the Military Historical Area within the 3rd, 4th, and 5th Military Zones, along with the Anlong Veng Historical Area. The primary objective behind this designation is to ensure the protection of natural environme...
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Cambodia Unveils Strategic Tax Incentives Propelling Economic Growth Across Key Sectors
- 4 December 2023
The Cambodian government has rolled out a series of tax incentives, particularly in the real estate sector, showcasing a commitment to fostering business resilience and invigorating the national economy amidst the COVID-19 pandemic. The real estate industry, a pivotal driver of Cambodia's economic recovery, enjoys exemptions from property tax in selected areas, coupled with a waiver on transfer...
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Angkor Wat Rakes in Over US$32 Million in Ticket Sales in 11 Months Amidst Surging Tourist Numbers
- 2 December 2023
In a spectacular achievement for Cambodia, the first 11 months of 2023 witnessed an impressive revenue of US$32,546,847 from the sale of Angkor tickets to nearly 700,000 foreign tourists. Revealed in a recent report by the Angkor Institute on 1 December 2023, this remarkable figure signifies a remarkable surge of 261.12% compared to the same period in 2022. November 2023 alone saw the Angkor In...
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Borey Peng Huoth cooperates with 11 banks to provide great loans
- 2 December 2023
No more worries about the financial problems of buying your dream home, because Borey Peng Huot has cooperated with 11 partner banks, including J Trust Royal Bank, Sathapana Bank, Bank of China, May Bank, Bred Bank, BIDC Bank, Shinhan Bank, CIMB Bank, Hong Leong Bank, IMB MB Bank (Cambodia) Plc.) And FTB Bank (FTB Bank) offers a wide range of loan options to customers. This collaboration is des...
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Gov’t Initiates Fee Waiver to Expedite Land Registration Process
- 1 December 2023
The Ministry of Interior has announced a waiver on service fees for applications related to land history certificates and their certificates. The directive, outlined in letter 3351 សជណ dated 29 November 2023, extends this exemption to all commune/Sangkat administrations in the capital and provincial areas. The decision aims to accelerate the nationwide land registration initiative, ensuring swi...
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Gov’t Unveils Robust Protocols for State Land Ownership Registration
- 29 November 2023
The Cambodian government has introduced a comprehensive set of procedures for the registration of state lands. Sub-Decree No. 321, enacted on 2 November 2023, delineates a strategic framework encompassing the identification, mapping, and classification of state lands. The primary objective is to fortify the protection of ownership and associated rights of state-owned properties. The sub-decree ...
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Telecom Regulator Issues Deadline for Borey Owners to Dismantle Signal Boosters Equipment by December 10
- 29 November 2023
The Telecommunications Regulator of Cambodia has issued a crucial deadline for all Borey development project owners in Phnom Penh to dismantle any service-increasing or internet expansion equipment within their developments before December 10, 2023, according to Letter No. 10079 ន.ទ.គ dated 16 November 2023. Preceding this deadline, a notice was issued to all Borey owners, urging them to volunt...
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Seoul’s Thriving Office Market Boasts Over 98% Occupancy Amidst Dwindling Demand Elsewhere
- 28 November 2023
In a world where office spaces face a downturn, Seoul's office market stands as a beacon of success, boasting an impressive occupancy rate of over 98% for grade-A offices, coupled with a remarkable 15% surge in rents compared to the previous year. This is according to a Bloomberg study published on 15 November 2023. The frenzy for office space is vividly demonstrated by competitive tenders, su...
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