The changing demand for residential rental units
By Eric Wong Chon Lap As the number of expatriates grows in Cambodia, even though as those staying in Phnom Penh slows down, the market is seeing a change in demand. This is creating an impact on the rental apartment and condominium sectors in Phnom Penh, despite continuing healthy performance. Typically, when expats move to work with Cambodia, either individually or with their family member...
Read MoreCCA to help promote new construction law
The Cambodia Constructors Association (CCA) has voiced its support for the newly adopted construction law and will promote the law to its members and beyond. The National Assembly adopted the law on construction in October which was compiled by the Ministry of Land Management Urban Planning and Construction (MLMUPC) with inputs provided from experts at Japan’s Ministry of Land, Infrastructure, ...
Read MoreJapan to Support Smart City in Hanoi
Vietnam’s prime minister, Nguyen Xuan Phuc presided over the signing of an agreement in October between Japanese company Sumitomo and Vietnamese developer BRG Group to develop a smart city in Hanoi. The $4.2 billion “smart city” will be built on a 272ha site in Dong Anh district in northern Hanoi. The first phase will see the construction of 7,000 apartments and houses and eventually hospita...
Read MoreGovernment official, winners of SCG contractor competition 2019 call on young people to consider skills training
Phnom Penh, Nov 28, 2019 – Expert official and award-winning local builders from the annual SCG contractor competition 2019 have encouraged young people to pursue technical and vocational training for skills currently on high demand in the job market, including in construction sector. Mr. Hing Sideth, director general of TVET general department of the ministry of labor and vocational training, ...
Read MoreThirty-five major Chinese companies interested in investing in Kampong Speu
The Kompong Speu provincial administration said on 27 November that 35 large companies from China were interested in investing in the province. Kompong Speu Provincial Governor, Vei Samnang met with the representatives of the companies who came to explore investment opportunities in the province. The governor told them about the potential of the province, especially the existing Chinese compani...
Read MoreGermany finances US$74 million for developing kingdom’s rural infrastructure
Germany has provided approximately US$74 million for the development of rural power supply projects and rural roads in Cambodia, the Ministry of Economy and Finance stated in a press release on 28 November. H.E Aun Pornmoniroth, Minister of Economy and Finance signed two agreements with German Ambassador Christian Berger. The first one is an agreement to finance energy efficiency projects for r...
Read MoreSouthern Phnom Penh to become green city and high-end commercial centre
The Phnom Penh city hall master plan (2015-2035) has designated the area south of the capital to be developed into a green city and the most important high-end commercial centre in 15 years, according to a Prince Real Estate statement on their website. Phnom Penh Municipality and the city of Paris conducted a study for a master plan on urban development in the southern part of Phnom Penh, as Pa...
Read MoreGrade “A” Office Space is able to command higher yield
By Dan Davies (Extract from Dan Davies unpublished Design Review) Introduction The desire and intention of many developers is to provide the leading office space in Cambodia and to be considered as GRADE A, for which they will be able to command higher yield rents by offering high quality and desirable services Classification of Grades for Buildings Office buildings are generally class...
Read MoreSouth Korea to increase loans to support infrastructure in Cambodia
During the ASEAN-Republic of Korea Commemorative Summit on 25-25 November in Busan, H.E Prak Sokhonn, Minister of Foreign Affairs and International Cooperation, thanked South Korea for its contribution to infrastructure development by increasing financial loans from US$350 to US$700 million for 2019-2023, according to AKP. During the bilateral meeting, Cambodia and the Republic of Korea signed ...
Read MoreUrban Village wins award for ‘Best Condo Development’ in Asia from PropertyGuru
Urban Village by Urban Hub (Cambodia) Co.,Ltd has been the only Cambodia applicant to win one of Asia’s longest-running and most respected real estate awards, the PropertyGuru Asia Property Awards. Held at The Athenee Hotel, Bangkok in Thailand, the 14th PropertyGuru Asia Property Awards represented major winning titleholders and included the award for ‘Best Condo Development’ in Asia for Urban...
Read MoreSCG, Labor Ministry Launch 2nd National Contractor Competition to Upskill Local Builders
Phnom Penh, Nov 27, 2019 – SCG, an ASEAN leading conglomerate, today kicked off the second SCG National Contractor Competition in collaboration with Cambodia’s ministry of labor and vocational training and a number of leading vocational training schools. Some 40 contractors, selected from among over 200 contractors who took part in provincial rounds of competitions organized by SCG and its part...
Read MoreDraft Law on Land Management and Urban Expected to be Approved next year
Ministry of Land Management, Urban Planning, and Construction is working to accelerate the compiling of the draft law on land management and urban planning to reply to the increasing development of urban, real estate and construction. Speaking at the urban forum on Smart, Sustainable and Inclusive Urban Development on November 27, the ministry’s secretary of state H.E. Pen Sophal said that the ...
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