Lower middle-income Cambodians flock for land plots despite challenging investment
Economic prosperity along with the rise in lower-middle-income Cambodians is pushing the development of the country’s real estate industry. Over the past decade, the country’s real estate sector has enjoyed strong growth each year, especially within the capital of Phnom Penh and on its outskirts. Along with this rapid development has been the increase in land prices as more lower-middle-income ...
Read MoreNew prakas issued to tighten construction safety loopholes
The Ministry of Land Management, Urban Planning and Construction and the Ministry of Justice, has recently issued a joint Prakas (regulation), to tighten construction standard loopholes in Cambodia. Issued on 02 August, this inter-ministerial Prakas aims to enforce the effective inspection and management of all property development in the kingdom in all aspects including quality, safety, social...
Read MoreTemporary housing on construction sites below standards required by law, says report
Temporary housing on construction sites in three provinces have failed to meet the minimum sanitary standards set by the government, according to a report by the Building and Wood Workers Trade Union Federation of Cambodia (BWTUC). The finding was presented in front of government official, representatives of construction companies, union members, and construction workers on 08 August at the Ton...
Read MorePlan floated to establishing Sihanoukville as logistics centre
The Cambodian government plans to turn Sihanoukville town into one of the major logistics centres in the country, since Sihanoukville is a major centre for the transport of goods and products through its deep-sea port. The development of Sihanoukville town as a logistics centre is aimed at ensuring sustainable economic, social and environmental development and ensuring the necessary infrastruct...
Read MoreCDC approves two construction projects worth US$166 million in Phnom Penh and Kampot
The Council for the Development of Cambodia (CDC) on 07 August approved a total of US$165 million in investment in a hotel and a construction materials factory in Phnom Penh and Kampot. According to the announcement, the hotel project is proposed by Royal Field Development Company Co., Ltd, a subsidiary of Chip Mong Group. This project comprises of a 300-key 3-star hotel as well as a commerc...
Read MoreLicadho Report Selective and Misleading, says CMA
The Cambodia Microfinance Association (CMA) on 07 August condemned the recent Licadho report regarding the predatory system of microfinance in Cambodia, arguing that the report relies on flawed methodology, does not represent the status of microfinance in Cambodia, and destroys the reputation of MFIs in the kingdom. The condemnation comes in response to the report by Licadho and Sahmakum Teang ...
Read MoreSolar power to account 15% of total power consumption next year
Cambodian government announced that next year power generated from solar farms will account 15% of total power output in the national grid. It is a contribution to reduce climate change. Keo Ratanak, Director General of Electricte Du Cambodge (EDC), said in a press conference held on Thursday that the 15% from solar farms in the national grid will join with power generate from hydropower dams w...
Read MorePublic Works ministry to establish special undercover road inspection group
The Ministry of Public Works and Transport (MPWT) is to establish a special undercover road inspection group after some inspection firms and government officials failed to report roads that do not meet with the technical standards, said Minister of Public Works and Transport H.E Sun Chanthol. Speaking on the sidelines with reporters after a meeting with construction and inspection companies on ...
Read MoreAvani Hotels Officially Opens First Property in Siem Reap
After six months of renovation by Thai hotel chain Avani, the French colonial architecture-styled Foreign Correspondents’ Club has been officially re-opened under the new name of ‘FCC Angkor managed by Avani Hotels & Resorts. Located a 20-minute drive from Siem Reap’s airport, this new hotel comprises 80 rooms and suites decorated in vintage style. The property was also designed by keeping ...
Read MoreLICADHO: Upsurge in microfinance debt leads to land loss and human rights abuses in Cambodia
The acceleration in microfinance debt in Cambodia - for which land titles are mostly used as the collateral - can poses significant risks to millions of local debtors in the kingdom including land loss and many other systematic human rights abuses, according to the latest joint research by the Cambodian League for the Promotion and Defense of Human Rights (LICADHO) and Sahmakum Teang Tnaut (STT). ...
Read MoreCentury Plaza market to be transformed into shopping centre
One of the oldest markets in Phnom Penh along the Russian Federation Blvd Century Plaza is to be transformed into a shopping centre following a recent meeting between the developer, vendors, and city hall. On 04 August, a meeting was held between Mr Nuon Pharat, vice governor of Phnom Penh Municipal Hall, the developer, and around 300 vendors from Century Plaza to discuss the transformation of ...
Read MoreSpecial economic zone for Mondulkiri province studied
The Cambodian government has been studying the establishment of a special economic zone (SEZ) in the north-eastern area of Cambodia to diversify the economy. The establishment of this SEZ is in line with the economic and social development goals of the northeast area. H.E. Vongsey Visoth, Secretary of State at the Ministry of Economy and Finance, said at a recent seminar on macroeconomic policy...
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