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ខ្មែរ Property Focus
Gov’t sets marine waste management plan in four coastal provinces
- 30 January 2023
The Ministries of Tourism and Provincial Administration of the four coastal provinces, including Sihanoukville, Kep, Kampot and Koh Kong, are drafting plans to strengthen marine waste management, according to the meeting with stakeholders on 28 January. The purpose of this meeting is to gather input to prepare a plan to strengthen the management of marine debris, mainly plastic waste. The proje...
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Siem Reap Among World’s Top 10 Trending Destinations in 2023
- 30 January 2023
Siem Reap ranks 4th among the 10 most popular tourist destinations in the world, according to Trip Advisor, a world-renowned online travel agency. While Cuba heads the list of top trending destinations, Hoi An in Vietnam is second, Mauritius third, Siem Reap (Cambodia) fourth, Chiang Mai in Thailand fifth, Grand Cayman in the Caribbean sixth, Fes in Morocco seventh, Baku in Azerbaijan eighth, ...
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Can China Fix its Property Crisis?
- 29 January 2023
Plenty of Chinese developers have faced difficulties. The volume of floor space sold across the country fell by 24% in 2022, the biggest slump since data became available in 1992; property investment was down 10% year on year, the first drop on record. China has abandoned its “zero-covid” approach to the pandemic, while simultaneously signalling an end to a crackdown on technology firms. Polic...
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Gov’t plans to spend US$30m for mine clearing in 2023
- 28 January 2023
Prime Minister Samdech Hun Sen has approved a budget of US$ 30 million for the Cambodian Mine Action Centre (CMAC) to conduct a mine clearing on over 180 million square metres of land in 2023, as the institution had already cleared 411 square kilometres of mined land thus far. According to HE Ly Thuch, First Deputy Chairman CMAC on 26 January, this budget package has dropped into the CMAC budg...
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Cambodia real estate market in 2023 to slightly recover along with lingering risks
- 28 January 2023
Local experts have projected that the Cambodian real estate market in 2023 will improve slightly, while still facing lingering risks that will last longer than expected. Mr Sorn Seap, President Cambodian Valuers and Estate Agents Association (CVEA), said no one could predict that the market would recover to the pre-COVID-19 rate as crises have yet to end. "In 2008, during the financial crisi...
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Gov’t Reclassifies 300ha of Tonle Sap Area Land for Aquaculture & Tourism Development
- 27 January 2023
The Cambodian government has reclassified 300 hectares of land from the second and third zones of the Tonle Sap Area to develop into aquaculture and tourism projects. The 300 hectares of land will be under the administration of the Kampong Chhnang Provincial Administration and the Ministry of Agriculture, Forestry and Fisheries, according to a press conference on 26 January. The provincial...
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Impact Study Begins on Koh Thmey Development Project
- 27 January 2023
Sihanoukville provincial authority has begun the impact study on the Koh Thmey development project by HTTH Island Investment Co., Ltd. According to the meeting chaired by Sihanoukville Deputy Governor HE Long Dimanche on 24 January, the company will develop the ecotourism project on the new island in Prey Nob district. This project will cost approximately US$4 million in the first 3 years....
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Hotel & Restaurant Sector Recovers Faster Than Expected
- 26 January 2023
The hotel and restaurant sector is experiencing significant growth and is projected to continue to grow well in 2023. According to the National Institute of Statistics of the Ministry of Economy and Finance, in 2022, the sector grew by about 30% after declining sharply in 2020 and 2021 at -32.2% and -39.5%, respectively. "The hotel and restaurant sector is recovering faster than expected a...
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Gov’t Issues New Prakas to Further Monitor Real Estate Service Business
- 24 January 2023
The Non-Banking Financial Services Authority has issued a new Prakas to strengthen the management and control of the real estate services business in Cambodia. According to the new Prakas No. 064 dated 27 December 2022, real estate services refer to real estate management services, appraisal services, and real estate agency services. All real estate service businesses must have a license a...
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China’s Real Estate Market Expected to Recover by 2023
- 23 January 2023
Since the first half of 2021, China has experienced a rapid decline in property prices and home sales. Many developers had liquidity issues with deteriorating balance sheets. However, the situation is expected to stabilise in 2023, experts said. Investment in real estate in 2022 fell 10% from 2021. Property sales slumped by 26.8%, the National Bureau of Statistics reported recently. To he...
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