Economy and Finance
Let’s Find Out! EP49: Real Estate Market Update in Q3
The Phnom Penh Real Estate Market in Q3 of 2020 remains under pressure from the COVID-19 pandemic. However, compared to other neighbouring countries, the Cambodian market shows the most significant recovery steps. What is the overview of the real estate market in the third quarter?
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KrisEnergy Receives Loan to Secure Scheduled Oil Extraction in Cambodia
KrisEnergy has reached a loan agreement with Kepinvest Singapore to secure oil extraction offshore of Cambodia as planned before the end of this year. According to the firm’s recent announcement, the US$87-million loan will be divided into two parts, with US$30 million to be used for facility A and another US$57 million to be used […]
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Real Estate Market Update in Q3 and Roadmap for Recovery
The Phnom Penh Real Estate Market in Q3 of 2020 remains under pressure from the COVID-19 pandemic. However, compared to other neighbouring countries, the Cambodian market shows the most significant recovery steps, according to a report from CBRE Cambodia. The same report also projects that due to the very low number of cases, thanks to […]
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GDT to Strengthen Property Tax Collection Amid 3.5% Tax Revenue Growth in Q3
The General Department of Taxation (GDT) will continue to strengthen property tax collection. This news comes as tax revenue in Q3 2020 has risen to over US$2 billion, according to the GDT quarter report on 12 October. The tax revenue collected by GDT has reached US$2.2 billion or equal to 78.1% of the annual plan. […]
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China-backed Dara Sakor Airport to Test First Flight Before March 2021
The controversial China-backed Dara Sakor Aiport in Koh Kong will run its first test flights before March 31, 2021, as construction is approaching completion, according to Minister of the Secretariat of Civil Aviation HE Mao Havanna during an official inspection from 10-12 October. During the inspection, the technical team reviewed the report from the Union […]
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ADB Revises 2020 Cambodia Growth Forecast Upward, Construction Sector Still at Risk
The Asian Development Bank (ADB) recently re-forecast Cambodia’s economic growth to rebound to 5.9% by 2021, yet the construction and garment sectors remain at risk. The Asian Development Outlook (ADO) 2020 Update also projected that due to the COVID-19 pandemic, Cambodian GDP would drop by 4% in 2020, which is better compared to the previous […]
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US-China Fight over Union Development Group Could Harm Cambodia’s FDI and Real Estate Market
Economists, analysts, and real estate experts are concerned that the geopolitical fight between US and China over the Union Development Group (UDG) in Cambodia could hurt Cambodia’s Foreign Direct Investment (FDI) and real estate market, especially in Koh Kong province. On 15 September, the US Treasury Department issued a statement imposing sanctions on the UDG […]
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AIIB & ADB to loan Philippines with US$750m loan to manage COVID-19 impacta
The Philippines has been offered a US$750 million loan from the Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB) to assist the nation to kickstart its economy following a slump caused by the COVID-19 pandemic. The loan is intended to help the Philippines increase its testing program and provide support to affected […]
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New Shopping Mall Construction Overshoots Local Demand
The number of shopping malls has been increasing rapidly while the local demand and average purchasing power have yet to catch up, indicating that the retail market in Cambodia is oversupplied, according to a Nikkei Asian Review report on 24 July. Real Estate Consultancy Knight Frank predicted that by the end of 2022, the total […]
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New Phnom Penh International Airport Expresses Cambodia’s Ambition to Promote Economic Growth Amid COVID-19
Cambodian Prime Minister Hun Sen’s inspection visit to the construction site of the new Phnom Penh International Airport on 22 June 2020 was more than a symbolic inspection and represented a strong endorsement of the airport project and the health of the nation’s construction sector. The prime minister also approached the visit from the perspective […]
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