PM Hun Sen: Stamp duty exemption also includes condos

Prime Minister Samdech Hun Sen has clarified that the stamp duty tax exemption also includes condominiums, as long as the property worth less than US$70,000. Samdech Hun Sen gave this statement during the inauguration ceremony of National Road 58 on 26 February. "Anyone who has enough money and buys a house worth under US$70,000; they can enjoy tax-free. However, I want to clarify that by sa...

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Gov’t calls for property developers to join with stamp duty tax exemption

The government has called on property developers to lower the cost of housing given that property tax on properties worth less than US$70,000 will be exempted from tax duty for a year in 2020. On the morning of 02 March 2020, H.E Kong Vibol, Director General of General Department of Taxation, urged all property developers to join with government's one-year tax relief strategy. "Property develop...

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Samdech Sar Kheng: NR development proposals shall be requested in package

Samdech Sar Kheng, Deputy Prime Minister and Minister of Interior suggested that the next proposal for national road development should be requested as a package, as this would make it easier for approval and the construction itself. Samdech Sar Kheng made this statement at the Road Safety Monitoring Meeting on 27 February. “Whenever we propose any plans to build or repair any roads, please ...

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Construction law will encourage more responsibility and trust in real estate investment

By Chhaya Addressing the 3rd Workshop on “Construction Law” Dissemination Seminar on Construction Professionals at the Garden City Hotel in Phnom Penh, On February 21, 2020; Deputy Prime Minister Chea Sophara, Minister of Ministry of Land Management, Urban Planning and Construction  (MLMUPC) talked about the importance of implementation of the newly adopted “Construction Law” which will contrib...

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Tax on agricultural land exempted for another 100 years, says PM Hun Sen

The government has exempted tax on agricultural land for more than 41 years and will continue to exempt it for another 100 years or as long as the ruling party is in power, according to the prime minister. Samdech Techo Hun Sen made the announcement on 26 February during the inauguration ceremony for the official opening of National Road No. 58 connecting Banteay Meanchey to Oddar Meanchey. (Re...

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MLMUPC organizes second construction law workshop

The Ministry of Land Management, Urban Planning and Construction (MLMUPC) organized a second dissemination workshop on construction law for professionals in the construction sector at the Sokha Phnom Penh Hotel on 13 February. H.E. Chea Sophara, Deputy Prime Minister and Minister of Land Management, Urban Planning, and Construction stated, “The main goal of this law is to ensure the quality and...

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World Bank: Large construction and property credit downside risk for Cambodia’s economy

The combination of construction, real estate, and mortgage businesses captured the largest share in bank credits, which is one of the main downside risks for the kingdom's economy, according to the World Bank. According to the latest Economic Development and Outlook Report published in November 2019, economic risks for Cambodia are due to three main factors, including the uncertainty over EBA w...

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MLMUPC to organise second construction law workshop

The Ministry of Land Management, Urban Planning and Construction (MLMUPC) will organise a second dissemination workshop on construction law for professionals in the construction sector at the Sokha Phnom Penh Hotel on 13 February. According to a Ministry announcement issued on 5 February, the dissemination workshop is for those registered architects, engineers, and electrical engineers who were...

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Regulated sand mining poses no threat to the riverbank says Mines Ministry

The Ministry of Mines and Energy condemned a recent report regarding the potential of the Mekong riverbank collapsing due to excessive sand mining, arguing that the mining volume in Cambodia is remarkably low and under strict technical regulation. The condemnation comes in response to research done by the University of Southampton, which discovered that the Mekong riverbanks, especially in Camb...

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MLMUPC committee ordered 23 buildings demolished in Sihanoukville in 2019

By the end of 2019, the Construction Review Committee had ordered the demolition of 23 buildings under construction in Sihanoukville due to their inadequate quality. The Construction Review Committee was established by the Ministry of Land Management, Urban Planning and Construction (MLMUPC) in response to the July 2019 collapse of the 7-storey building in Sihanoukville to review the standards ...

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