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ខ្មែរ Investment and Funding
New US$1.5 billion Phnom Penh Airport Set for 50% Completion by End 2021
- 23 February 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 the plan, the construction will be at least...
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Japan Provides US$2-million Grant Aid to Help Repair Flood-Damaged Infrastructure
- 23 February 2021
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 Program. He continued that this assistance will sup...
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US$100 million Housing Development Project Launched in Sihanoukville
- 22 February 2021
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 of participants. Located in Bit Trang commune of Prey Nu...
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Sihanoukville Governor Requests China to help advance PP-SHV railway system
- 20 February 2021
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 go...
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U.S. Seeing More International Buyers Snap Up Great Deals
- 20 February 2021
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 many buyers have found highly...
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Wyndham Hotels & Resorts Open First Five-Star Hotel in Sihanoukville
- 19 February 2021
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 Johnson Plaza by Wyndham B...
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Cambodia’s Construction Sector Investment Value US$60.8 billion since 2000
- 18 February 2021
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 investment in the construct...
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CBRE Cambodia Hosts Annual Flagship Event Fearless Forecast 2021
- 17 February 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 pressure rents and prices over the medium term. COVID-relate...
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Feasibility Study of Phnom Penh Rapid Transit to Complete Next Month
- 16 February 2021
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 said during the 2020 Work Progress and 2021 Goals ...
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CDC Approves Two Investment Projects Worth Nearly US$70 Million
- 15 February 2021
The Council for the Development of Cambodia (CDC) has officially approved private firms to invest in building two factories worth nearly US$70 million in Kandal and Svay Rieng provinces. The first investment permit has been granted to Onion Mobility Co., Ltd, with the firm investing US$20 million to build a factory to assemble motorcycles and electric tricycles in Sovannaphum SEZ in Kandal prov...
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