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ខ្មែរ Business and Market
Hotels in Siem Reap exempted from tax for 4 months
- 24 February 2020
The government has decided to exempt all kinds of monthly taxes for hotel owners, and guesthouses in Siem Reap for four months, from February to May 2020, as a counter policy to the tourist slowdown caused by COVID-19 outbreak. Announcing the measure at a press conference on the morning of 24 February 2020, Prime Minister Samdech Hun Sen addressed the issue of COVID-19 affecting tourism busines...
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Century 21 to recruit 3,800 real estate agents
- 19 February 2020
Century 21 Zillion Holding is recruiting 3,800 potential real estate agents in response to a strong increase in market demand amid Cambodia's booming real estate sector. The firm announced the recruitment drive during a training program they hosted for prospective real estate agents on 19 February at the Grand Phnom Penh Hotel. According to Ms Grace Rachy Fong, CEO of Century 21 Cambodia, th...
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CCA to organise oversea business tours for members
- 18 February 2020
The Cambodia Constructors Association is planning to organise oversea business tours for members to seek further business opportunities and broaden networks with foreign business partners. According to CCA Secretariat General Manager Mr Chhiv Sivpheng, the association is working on the details with partners, and is hoping to host the trip within this year. “Currently, we are dealing with our...
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5th Annual PropertyGuru Cambodia Property Awards follows banner year for Khmer condo development
- 8 February 2020
Asia’s most respected real estate honours renewed its call for the most award-worthy development firms and projects in Cambodia with the announcement of the timeline for the 2020 PropertyGuru Cambodia Property Awards, presented by Hitachi Elevators and Escalators. The fifth edition of Cambodia’s most prestigious real estate awards programme will be staged at a black-tie gala dinner and awards c...
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Phnom Penh Mega Mall 99.4% complete, expected to open by Q4 this year
- 7 February 2020
Construction of Phnom Penh Mega Mall is currently 99.4% complete and is expected to open for operation by Q4 of 2020, which is another delay from last year’s announcement. According to the president and CEO of the Hassan (Cambodia) Development Mr Olvy Othsaman, the original plan for the opening was in Q3 this year. However, due to internal work, it has now been pushed back. “Actually, we hav...
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Loose real estate credit harms buyers the most, says expert
- 6 February 2020
Real estate analyst and managing director of CBRE Cambodia Mrs Sothida Ann recently expressed her concern that real estate buyers in Cambodia are the most prone to risk from poorly regulated lending measures, in particular from project owners. The concern comes after several international organisations urged Cambodia to tighten its lending measures on the real estate sector to avoid risk. In...
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Cambodia construction sector to slow down in 2020, say experts
- 4 February 2020
Despite ongoing GDP growth, local leading real estate analysts foresee that the construction sector in Cambodia will see a slight slowdown in 2020 due to three significant factors. Given the current economic situation, experts came up with three primary factors being the causes of a real estate slowdown in the kingdom including the outbreak of coronavirus that strongly affects the Chinese econo...
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Hyatt Regency hotel Phnom Penh 90 percent complete, expected to open by this year
- 29 January 2020
Construction of Cambodia’s first Hyatt Regency Hotel in downtown Phnom Penh is currently 90 percent completed and is on schedule to open by the year 2020. An executive staff responsible for this project told Construction & Property Magazine that the project is going well following the schedule. After completing the building structure in April last year, the construction team is currently...
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Chinese developer pledges continued investment in Cambodia
- 21 January 2020
China-based property developer Prince Real Estate Group (Cambodia) has pledged to continue investing in the Cambodia real estate market in 2020, after investing billions of dollars in more than ten projects in Cambodia last year. The ten major projects by Prince Real Estate Group in 2019 cover a total area of 1,876 hectares nationwide; six in Sihanoukville, and four in Phnom Penh, AKP reported ...
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Condo supplies projected to grow at 55% in 2020: CBRE
- 17 January 2020
CBRE, a leading commercial real estate services and investment firm, has projected growth of condominium unit supplies at 55% in 2020, thanks to strong growth in the construction sector in 2019 and the newly approved construction law which builds confidence in the future quality of buildings and condos. CBRE’s report issued on 16 January stated that the affordable condo projects are expected to...
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