Investment and Funding
Spain Mulls Building World’s Largest Floating Wind Farm
Spanish utility Iberdrola is considering investing over US$1.2 billion in a 300MW floating windfarm northwest of Spain and is currently seeking funds from the EU’s Next Generation programme, reported GCR. The scheme is expected to begin this year and become operational by 2026. If approved, it would be the largest floating wind farm built so […]
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New US$1.5 billion Phnom Penh Airport Set for 50% Completion by End 2021
Chairman of renowned local conglomerate Overseas Cambodia Investment Corporation (OCIC) Neak Oknha Pung Kheav Se said that OCIC aims to have the construction of the new US$1.5 billion Phnom Penh International Airport 50% complete by the end of 2021. Neak Oknha Pung Kheav Se told Construction & Property Magazine earlier this month that according to […]
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Japan Provides US$2-million Grant Aid to Help Repair Flood-Damaged Infrastructure
The Japanese government has provided grant aid of approximately US$2 million to help repair damaged infrastructure caused by severe flooding in October last year. Speaking at the aid signing ceremony on 22 February, the Ambassador of Japan to Cambodia HE Mikami Masahiro said that the US$2 million fund will be provided through the World Food […]
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US$100 million Housing Development Project Launched in Sihanoukville
The US$100-million Lorn City Lotus Sea housing development project will be soon built on over 66 hectares of land in Prey Nop district of Sihanoukville, after sales were launched on 22 February. The launch ceremony was presided over by Sihanoukville Governor HE Kouch Chamroeun and Senator HE Neak Oknha Ly Yong Phat, along with hundreds […]
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Sihanoukville Governor Requests China to help advance PP-SHV railway system
Sihanoukville Governor H.E. Kuoch Chamroeun has requested the Chinese government to help improve the Phnom Penh-Sihanoukville railway, especially regarding technical advancement. The proposal was made during a meeting between the governor and Chief Representative of the Chinese Consulate in Sihanoukville Jiang Wei on 16 February. HE Chamroeun stated that the current PP-SHV railway is only […]
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U.S. Seeing More International Buyers Snap Up Great Deals
Foreign Real Estate Transaction Trends in the United States International buyers of U.S. residential real estate account for a significant 5% of total residential real estate purchases, with top geographies for international buyers including Florida, California, Texas, New Jersey, and New York. The average price foreign buyers pay for a U.S. home is $300,000, which […]
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Wyndham Hotels & Resorts Open First Five-Star Hotel in Sihanoukville
Five-star international brand hotel Howard Johnson Plaza by Wyndham Blue Bay Sihanoukville has been officially opened along Independence Beach, according to PR Newswire. This is the very first time that Wyndham Hotels & Resorts, the leading provider of hotel management services with over 8,900 hotels across nearly 95 countries, opens a hotel in Cambodia. Howard […]
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Cambodia’s Construction Sector Investment Value US$60.8 billion since 2000
In the past two decades, the construction sector has the major backbone of Cambodia’s economic growth, with the investment value reaching over US$60.8 billion, according to Minister of Land Management, Urban Planning and Construction HE Chea Sophara. During the 2nd Public-Private Forum on Cambodia-Japan Urban Development held on 16 February, HE Chea Sophara said that […]
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CBRE Cambodia Hosts Annual Flagship Event Fearless Forecast 2021
CBRE Cambodia held their annual flagship event Fearless Forecast 2021 on the morning of 17 February at the new Hyatt Regency Hotel in Phnom Penh with an approximate 200 people attending. Managing Director of CBRE Cambodia James Hodge said, “Many sectors are facing a period of limited demand and increasing supply which will continue to […]
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Feasibility Study of Phnom Penh Rapid Transit to Complete Next Month
The feasibility studies for three choices for the Phnom Penh mass transit project are ongoing. The AGT and monorail choices have been completed, while the subway option will be finalised next month. In the meantime, the government is also seeking funds to implement this massive undertaking. Minister of Public Works and Transport HE Sun Chanthol […]
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