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ខ្មែរ Business and Market
With First 4 Phases Sold Out in Pandemic, Urban Village Triumphs at Asia Pacific Property Awards 2021-2022
- 29 September 2021
Urban Village and Factory Phnom Penh, the biggest mixed-use Hong Kong-standard development in Cambodia, has once again surprised the leading real estate players in the region by scoring two prestigious awards at the Asia Pacific Property Awards 2021-2022 organized by the International Property Awards, according to co-founders, Ms. Catherine Chan and Dr. Ben Li. Urban Village is the best-selling...
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Pan Pacific Hotels Group to Open Branches in Phnom Penh & Siem Reap in 2023
- 23 September 2021
Singapore-headquartered Pan Pacific Hotels Group will enter the Cambodia market in 2023, with one hotel scheduled to open in Phnom Penh and another in Siem Reap city. According to the group press release on 22 September, the group will open Pan Pacific for Phnom Penh, and PARKROYAL for Siem Reap. The 212-room Pan Pacific Phnom Penh will be situated centrally on the bustling Norodom Boulevard...
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ADB Lowers 2021 Cambodia Growth Forecast to 1.9%, Jumping Back to 5.5% in 2022
- 23 September 2021
The Asian Development Bank (ADB) has lowered the 2021 Cambodia economic growth forecast from 4% to 1.9% but expects to see a 5.5% to the growth rate in 2022. According to the Asian Development Outlook Update (ADOU) 2021 report, the main factors causing the lower growth rate are the prolonged pandemic, closures and temporary shutdowns which affected domestic demand services, and the garment sect...
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Chinese Investors Mull Establishing Public bus service in Sihanoukville
- 22 September 2021
Chinese investors have requested approval from the government to invest in establishing a public bus network and service in Sihanoukville. This request was made during a meeting between Sihanoukville Governor HE Kouch Chamroeun and Chinese investors on Wednesday 22 September. According to the Chinese investors, for the first phase, there will be 30 buses, which will run on some major roads i...
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US$5-million Eco-Friendly Cup & Straw Factory in Pursat Province Begins Production
- 20 September 2021
TK&D, a US$5-milion eco-friendly cup and straw production factory located in Kroko district, Pursat province has officially opened for operation. Founder of TK & D Lok Chumteav Tith Sokhom said during the opening ceremony on 19 September that the factory will produce paper cups and straws from flour of rice, corn, and cassava without any added chemicals. “This kind of factory is quit...
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Phnom Penh Autonomous Port Earns US$19 million Income in First Eight Months of 2021
- 17 September 2021
The Phnom Penh Autonomous Port has earned audited revenue of US$19 million during the first eight months this year, a year-on-year increase of 11%. Report from the Phnom Penh Autonomous Port issued on Monday 13 September indicated that of the total revenue, port operation attributed for US$15.3 million, the port authority US$2.4 million, other services US$0.155 million, and other income US$1.6 ...
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Veng Sreng’s first modern office tower set to open in November
- 16 September 2021
ISI Tower, part of the KMH Park masterplan development along Veng Sreng Boulevard, is set to serve as one of the first contemporary office buildings for businesses in the area from November this year. Developed by award-winning home-grown real estate developer Urbanland, the new ISI Tower is the only commercial office tower of its kind in Veng Sreng and Chom Chao. Fronting Veng Sreng Boulevard,...
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Three Investment Projects Worth Over US$8 million Approved for Pou Senchey & Angk Snuol Districts
- 16 September 2021
The Council for the Development of Cambodia (CDC) has recently given permits to private firms to invest US$8.5 million in building three news factories in Kandal and Phnom Penh. The first investment permit has been granted to New T&K Textile Co., Ltd to invest US$2 million to build a garment factory in Trapeang Krasaing village, Sangkat Trapeang Krasaing, Khan Por Senchey, Phnom Penh. Th...
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As of 2021, Cambodia has Nine Registered Automotive & Automotive Component Factories
- 16 September 2021
As of 2021, Cambodia has a total of nine registered automotive and automotive component factories worth over US$61 million, according to the Ministry of Industry, Science, Technology, and Innovation. The ministry’s data showed that the investments are from Japan, China, South Korea, Thailand, and a local company. Of the total factories, two factories are automotive factories with a total inv...
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Koh Norea Development Project 48% Complete, First Phase Set for Completion in 2023
- 15 September 2021
Construction of the main infrastructure for the US$2.5-billion Koh Norea development project remains on track despite the pandemic, as of September 2021, reaching an average of 48% competition. Project General manager Men Poly told the Construction & Property Magazine on Wednesday 15 September that there are five main parts of the construction, each of which has different progress. “The ...
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