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ខ្មែរ Economy and Finance
NagaWorld to Slash 1,300 Jobs as COVID-19 Hits Profits
- 3 May 2021
Due to the large drop in profit caused by the COVID-19 pandemic, Cambodia’s largest casino NagaWorld has decided to slash 1,300 jobs, according to the South China Morning Post. These 1,300 jobs are equal to more than 15% of the total staff, who will be laid off in the next few weeks. The SCMP added that NagaWorld will calculate severance packages based on reduced wages in 2020 and using gove...
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Cambodia Construction Investment Capital Valued at US$1.6 billion in Q1 2021, Down by 35%
- 30 April 2021
Total investment capital in the construction sector nationwide was valued at US$1.66 billion in the first quarter of 2021, down by 35% compared to the same period in 2020, according to figures from the Ministry of Economy and Finance. Of the approved construction projects, housing and villa projects represent the largest portion of investment at US$922 million, followed by commercial and indust...
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ADB Prepares Over US$1.3bn in Loans & Aid for Cambodia for 2021-2023
- 29 April 2021
The Asian Development Bank (ADB) has prepared a total of over US$1.3 billion in loans and grant aid for Cambodia to support the country’s economic development and recovery from the COVID-19 pandemic. According to an ADB report released on 28 April, of the total lending pipeline for 2021-2023, US$1.35 billion is in form of concessional loans while another US$32.4 million is in grant aids. ADB...
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Analysts Question ADB’s Property & Construction 2021 Growth Forecast
- 29 April 2021
The Asian Development Bank (ADB) on 28 April released a report forecasting that the Cambodian economy will grow by 4% in 2021 and 5.5% in 2022, while the construction and real estate sectors are also expected to recover from last year’s contraction. This growth forecast is indeed a positive sign. However, given the current lockdown and community outbreak situation, will the growth happen as for...
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Construction & Property Weekly Video News ( 24 April 2021)
- 27 April 2021
<div class="youtube"> https://www.youtube.com/watch?v=HM76f5mlYbE </div> This week content (24 April 2021): #1 Cambodia, Japan Officially Sign Construction Contract for Choeung Ek Wastewater Treatment Plant [Read more] #2 Singaporean Firms Unveil Details for US$200 Million Phnom Penh Logistics Complex [Read more] #3 Study Complete for NR33 Renovation Connecting Kampot Tow...
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Will Conflict Between China and Australia Over BRI Contract Affect Cambodia?
- 23 April 2021
Photo credit to Wccftech On 21 April, the Australian government announced it would revoke contracts signed by the state of Victoria with China over the Belt and Road Initiative in 2018 and 2019, stating that they were out of line with Australia’s foreign policy and their action is to prevent Australia from hosting a giant infrastructure scheme used for propaganda. China in response claimed t...
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Construction delays another greatest risk for the condo market besides oversupply
- 12 April 2021
Construction delays, as well as the delays in handover date, are the two main concerns in the condominium market at the moment, followed by the oversupply issue, according to CBRE Cambodia’s recent report. The report added among other causes, the loss of foreign investment in the sector is the prominent one that negatively impacts the market. According to the report, seven projects out of 19...
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Four New Malls Open in Q1 2021 Despite Recent Community Outbreak
- 7 April 2021
During the first three months of 2021, four new malls have completed construction and started operations, despite the market being hit hard by the current COVID-19 community outbreak, according to a recent report by CBRE Cambodia. Those new malls include Green Avenue in Sen Sok, TK Central in Toul Kork, View Park Mall in Duan Penh, and Boeung Snor Food Village in Chbar Ampov. These four added o...
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Oversupply, Liquidity Reduction, and Construction Delays Pose Greatest Threats to Real Estate Market in 2021
- 7 April 2021
Among other projected risks, oversupply, reduction of liquidity, and construction delays have been the top three concerns that pose greatest threats to the real estate market in 2021, according to CBRE Cambodia’s recent survey. The survey also listed out other risks such as the threat of international sanctions, lack of infrastructure capacity, domestic regulatory change, construction disasters...
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Cambodia Imports Over US$1 Billion of Construction Materials in 2020, Down by 7.3% Y-o-Y
- 5 April 2021
Construction materials imports were valued in 2020 at over US$1 billion, a decrease of 7.3% compared to 2019, according to a recent report by the Ministry of Commerce. Of all construction materials, steel imports fell by 27.52%, from about US$556 million in 2019 to US$403 million in 2020. Similar, cement imports value dropped sharply by 48.59% from US$128 million in 2019 to US$66 million in ...
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