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ខ្មែរ 
CAMBODIA TO HOST AVA CONGRESS FOR FIRST TIME
The Asean Valuers Associations (AVA) Congress meeting is to be hosted in Phnom Penh for the first time on 4-6 May on the theme of “One ASEAN, One Valuation Standard.” Delegates from eight ASEAN member countries will meet in the capital to discuss real estate and valuation regulations, standards and techniques adopted in the profession. New AVA president Kim Heang told the Phnom Penh Post tha...
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CHINESE OFFERING UNITS ON MALAYSIAN ISLAND ECO-CITY
A Chinese developer is promoting residential units on a mega-project located on four artificial islands in the Johor Strait separating Malaysia and Singapore. Forest City is projected to be a $41 billion, 14 square kilometre self-contained eco-city scheme developed by Country Garden, though no units are yet completed as the islands themselves are still under construction. The project which b...
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VINGROUP MOVES INTO AUSTRALIAN MARKET
Vingroup, Vietnam’s top property developer, has entered the Australian market after a $16 million land deal in Sydney’s central business district, according to The Australian newspaper. It was reported that Vingroup will build a hotel complex in the city. A 172-room hotel was proposed for the 1,030 square metre land, but no approval has been given on the development. It is expected that Vingrou...
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ISSUES FACING REAL ESTATE IN AEC
A recent CBRE study, ‘ASEAN Economic Community: A boost to South East Asian real estate’, noted a number of challenges and opportunities facing the sector with the advent of the AEC. Transparency in markets was highlighted as a challenge with Cambodia in particular needing to create an atmosphere more conducive to doing business. A lack of skilled labour and a mismatch of skills also threate...
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INDONESIA HALTS RAIL PROJECT AFTER 5 DAYS
The Indonesian government has halted work on the controversial Jakarta-Bandung high-speed rail project just five days after the ground-breaking ceremony. The chaotic bidding process for the $5 billion project saw the government first halt the bid in favour of a cheaper local line before then finally awarding the bitterly contested bid to China over Japan. The Indonesian transport ministry confi...
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AIIB OPENS FOR BUSINESS
Chinese President, Xi Jinping officially launched the Asian Infrastructure Investment Bank (AIIB) in Beijing on 16 January in a move expected to change the global economic balance of power. “Asia’s financing needs for basic infrastructure are absolutely enormous,” Xi said in a speech at the launch, adding the bank would aim to invest in projects that were “high-quality, low-cost”. The Chines...
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New Cbd Slated for Capital
According to a filing to the ASX by developer Kingsland Global Ltd, an agreement with a subsidiary of Shukaku Inc has been signed to develop 10,000 square metres of undisclosed prime real estate in Phnom Penh’s “central business district”. The agreement paves the way for a JV to build a mixed use development to include a hotel, residential units, retail outlets and office space according to the...
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Thailand and Uk Create Anti-corruption Initiative
The British Embassy in Bangkok and Thailand’s State Enterprise Policy Office have co-hosted a seminar on the Construction Sector Transparency (CoST) Initiative. Last year Thailand signed up to become the 14th member country of CoST, a global initiative to reduce corruption in the construction industry. Mark Kent, British Ambassador to Thailand, said, “it is a challenging process, with constr...
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Construction Law Draft Complete
The Council of Ministers will soon receive the draft Construction Law which may be passed into legislation by mid-2016 according to senior government advisor Sok Siphana. “There are about 300 articles of the draft and we have taken models from many countries and adapted them to meet the requirements in our country,” Mr. Siphana said. “Many laws from foreign countries do not fit the situation he...
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LEGISLATE TRANSACTIONS URGES CVEA
To ensure sellers to use a registered real estate company to value their property before placing it on the market, the CVEA has called on the government to regulate all property transactions as part of the pending management law. The initiative would mirror the US model and is designed to control speculation and artificial price jumps in the local real estate market. Ensuring stability and cons...
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Bosch’s 2015 Sales Surpass €70bn
Robert Bosch, a world leader in technologies and services, announced that its 2015 sales exceeded €70 billion for the first time in its history—marking a 10 percent growth against 2014 sales of about €65 billion. Driven mainly by an increasing number of solutions for the connected world, the growth varied among its four business divisions, according to the company’s press release published in e...
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Views Vary on Future of Phnom Penh at Gac
The recent announcement of the Phnom Penh Urban Master Plan provided the backdrop for a robust discussion on the future development of the capital among industry insiders at the 2nd Annual Global Alumni Convention (GAC) organised by IDP Education in January. December 2015 saw the Cambodian government adopt a comprehensive urban master plan for Phnom Penh to ensure the sustainability o...
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