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ខ្មែរ Business and Market
Two sectors key to Cambodia achieving middle-income status by 2030
- 21 November 2019
Cambodia has set itself the target of progressing from a low-income to a middle-income country by 2030 with an aim of achieving similar status to Thailand or Malaysia today in just over 10 years. At the 2nd Asia Pacific Summit on 19 November Samdech Techo Hun Sen said that, “now, Cambodia is making further efforts to become an upper middle-income nation by 2030 and to become a high-income natio...
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A History of Quality Sports Construction in South East Asia
- 14 November 2019
When the founders of Sports Engineering And Recreation Asia Ltd (Seara) first established their presence in Bangkok in 1991, a strategic decision was made to only build to international standards. This was not only a business marketing strategy but an important branding strategy that would take years to pay off. “We saw in markets like Singapore and Kuala Lumpur that certain segments of sports con...
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The decrease in Chinese demand in the Sihanoukville real estate market
- 14 November 2019
By Eric Wong Chon Lap China plays the biggest role in Sihanoukville’s economy and property market, where Chinese nationals comprise the largest number of expatriates with work permits in Sihanoukville. Within the tourism industry, the most visible increase has been in Chinese tourist arrivals and the number is expected to still rise further. The country is Cambodia’s largest source of foreig...
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OCIC to open the second phase of Olympia Mall in 2020
- 7 November 2019
Overseas Cambodian Investment Corporation (OCIC), Cambodia’s leading developer is set to open the second phase of its Olympia Mall project in 2020. OCIC is renowned for its infrastructure projects and Olympia Mall opened its first phase on 22 June 2019. Construction & Property Magazine reporter Ms Khat Leakhena sat down with Mr Sao Monasy, leasing manager of Olympia Mall to learn more about th...
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How will QR code payment systems help the retail industry in Cambodia?
- 5 November 2019
With the rapid increase in retail supply and space, there will soon be a QR code-based payment system to Cambodia. By 2024, shopping mall space will increase to 496,857 square metres, retail podium will reach 143,956 square metres, and community mall space will also extend to approximately 100,000 square metres, according to a recent CBRE report. James Hodge, CBRE Cambodia Director said that “P...
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Online real estate marketers buzzing as Cambodia’s e-commerce law approved
- 28 October 2019
Real estate marketers have expressed excitement at the ability to develop online digital platforms to promote sales after the Cambodian National Assembly approved the draft law on e-commerce. Speaking at the Property Market Update event on 25 October hosted by Vtrust Appraisal, Chairman of VTrust Mr. Kuy Vat views online marketing as a vision for growing and promoting real estate sales in Cambo...
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Construction boom causes competition in home loan interest rates
- 17 October 2019
Recent figures from Ministry of Land Management Urban Planning and Construction indicate that the number of house construction projects has increased from 3,052 worth US$6.4 billion in 2017 to 43,136 worth more than $43,3 billion in 2018. As a result, the competitiveness of home loan interest rates has begun to attract more customers while most individual banks now offer mortgage policies. For ...
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CBRE Market View: Total retail supply drops nearly 17%, yet more projects announced
- 12 October 2019
The newly launched Phnom Penh market view compiled by international real estate agency CBRE Cambodia shows that total retail supply over Q3 2019 has dropped by 16.9%. However, despite these figures, more projects continue to be announced. Presented during an event held at Rosewood Hotel on 10 October, the reported drop is due to the partial closer of Sovanna Shopping Centre for renovation, leav...
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300,000 condo units needed by 2030
- 19 September 2019
With the lifestyles of the capital’s residents witnessing changing trends particularly among the younger generation, and while the prices of landed houses have increased, key real estate insiders say the demand for condo units will increase over the next five to ten years. Real estate experts say the current demand for condos in Phnom Penh is relatively low compared to the more affordable lande...
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Olympia Mall set for 2nd phase in 2020 to attract 50,000 visitors daily
- 18 September 2019
Cambodia's leading developer Overseas Cambodia Investment Corporation (OCIC) will expand its Olympia Mall in 7 Makara district in 2020 hoping to attract around 50,000 visitors daily. Following the success of the launch of the first phase in June 2019, OCIC is constructing a second phase that will bring the total floor area to 12,000 square metres per floor or about 84,000 square metres across a...
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