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ខ្មែរ Property Focus
CBRE issued mid-year real estate review: highlighting globalization as the key factor for the slow recovery
- 17 July 2023
CBRE, Cambodia's Leading Real Estate Appraisal Company, has just released its Phnom Penh Real Estate Market Rating Report for the second half of 2023, highlighting the impact of global macroeconomic conditions, particularly the slowdown in the Chinese economy combined with the oversupply of markets domestically, pushing Cambodia to prolong the recovery of the real estate market. “Amidst a slowd...
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Decrease in Chinese Tourists Impacts Southeast Asian Economies, While Cambodia Sees Growth
- 16 July 2023
The decrease in Chinese tourists has impacted Southeast Asian economies, hindering their post-Covid recovery plans. Slower-than-expected economic recovery in China has made its population more hesitant to spend money on international travel. Official data compiled by Bloomberg News show that Chinese arrivals in five Southeast Asian countries varied between 14 percent and 39 percent in May compared...
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13ha Prime Land Allocated for Private Development in Boeung Ta Mok, Phnom Penh
- 12 July 2023
Cambodia's government has recently granted an allocation of over 13 hectares of prime land in Boeung Ta Mok (Boeung Kob Srov) to Mr. Lahn Pheara. This decision, outlined in Sub-Decree No. 02 dated 4 January 2023, designates the land situated in Sangkat Kork Roka and Sangkat Ponsaing, Khan Prek Pnov, Phnom Penh, as state private property. The allocation comes as part of the implementation of Sub...
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Gov’t Grants 322 Hec of Social Land Concessions in Rolea Bier District, Kampong Chhnang Province
- 10 July 2023
The Ministry of Land Management, Urban Planning, and Construction, in collaboration with the Kampong Chhnang Provincial Authority, has allocated 322 hectares of land as a judging area for land identification, classification, and registration in Prasnup commune, Rolea Bier district. This announcement, made on July 6, 2023, marks a crucial milestone in the implementation of the Land Allocation for S...
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China’s Property Market Struggles Persist as Shimao Group Faces Failed Auction and Sino-Ocean Group Sees Bond Decline
- 8 July 2023
The challenges gripping China's property market continue to intensify, with alarming developments emerging in the country's ongoing real estate debt crisis. Shimao Group Holdings Ltd., a defaulting developer, experienced a setback as a $1.8 billion project failed to attract a buyer at a forced auction, even with a significant discount, according to Yahoo Finance. In parallel, Sino-Ocean Group H...
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Ensuring Fairness and Protection: MOC Introduces Measures to Prevent Real Estate Contract Exploitation
- 7 July 2023
In a bid to safeguard consumer rights and prevent profiteering in the real estate sector, the Ministry of Commerce (MOC) has announced the implementation of the Consumer Protection Law and the Declaration on Unfair Contracts. This significant development was highlighted in a press release issued on 30 June 2023. The MOC acknowledged the rapid growth and fierce competition within Cambodia's real...
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NBC Urges Prudence in Real Estate Loans Amid Projected Market Slowdown
- 6 July 2023
The NBC has issued a cautionary statement to banks and microfinance institutions, emphasizing the importance of exercising prudence in granting real estate loans. This advisory comes in light of the projected slowdown in the demand for real estate within the domestic market for the current year. During a seminar held at the Center for Banking Study on June 6, 2023, HE Dr. Chea Serey, Deputy Gov...
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Cambodia’s Angkor Wat Ticket Sales Surge in H1 2023, Generating Nearly US$18 Million
- 6 July 2023
In the first half of 2023, Cambodia witnessed a remarkable surge in revenue from ticket sales to the iconic Angkor resort. According to a report released by the Angkor Institute on July 1, 2023, the country earned an impressive US$17,877,418 from selling tickets to 385,769 foreign tourists during this period. This revenue marks a staggering 638.71% increase compared to the same period in 2022, hig...
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MB Bank and Borey Peng Huoth Join Forces to Offer Special Home Purchase Loans
- 5 July 2023
In a significant collaboration, MB Bank Cambodia and Borey Peng Huoth recently held a Partnership Signing Ceremony at the prestigious Grand Star Platinum Sales Office, located just 5 minutes away from Monivong Bridge in Chbar Ampov. This event, which took place on the morning of June 30, 2023, saw the attendance of senior management representatives from both institutions, along with colleagues. ...
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GOV’s Endeavors: Over 5,000 Houses Gifted to Veteran Families by 2023
- 5 July 2023
In a remarkable display of gratitude and support, the Cambodian government has presented a total of 5,154 houses to veterans and their families by 2023. This significant achievement was highlighted by HE Mang Sineth, Deputy Governor of Preah Sihanouk Province, on the auspicious occasion of the 16th anniversary of the 21st Cambodian Veterans Day in June 2023. The provision of these houses serves...
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