CBRE Cambodia is delighted to present our Weekly Property News Round-up for April 17th, 2020.
CBRE Appointed as Property Manager for New Office Tower in Phnom Penh, Cambodia
RETALK – April 17th, 2020
The latest grade A office development in Phnom Penh appointed CBRE Cambodia as the sole agent and property manager. Developed by Maruhan Group, the complex will be the third grade A office to join the market. The development offers a total of 17,951 square metres of Grade A office space across 19 storeys. Maruhan General Manager Yano Kentaro said at the signing ceremony that “CBRE had a deep understanding of the Phnom Penh market and significant experience in delivering large scale, prestigious leasing and property management project across the city”. According to Mr James Hodge, Director at CBRE Cambodia, Sathapana Tower is an inclusive addition to the market which will contribute a more comprehensive choice to those who are seeking premium office space in Phnom Penh.
USD23.5 Million in New Investment Projects Licensed
Khmer Times – April 14th, 2020
The Council for Development of Cambodia (CDC) has greenlit six new investment projects with the overall capital of USD23.5 million. The announcements were made at two different occasions by the CDC. During the press releases, the CDC stated that the six new approved investments are estimated to generate over 4,000 jobs for the locals.
CBRE: Condominium Prices to Face Downward Trend if COVID-19 Continues
Construction Property – April 10th, 2020
According to the latest report published by the real-estate firm CBRE Cambodia, the condominium sector has observed slight downward adjustments in the quoting prices in the first quarter of the year. High-end and mid-range sector witnessed a drop by 0.4% and 0.6%, while the affordable condominium shined with a 0.3% increase. CBRE Cambodia expected the trends to gradually soften if COVID-19 remains present.
Exports Soar 24% in the First Two Months
The Phnom Penh Post – April 14th, 2020
Cambodia exports witnessed a 24 per cent hike during the first two months of 2020. The private sector estimated that trade figure will soften from the third month onwards in response to the US and Europe economic crisis caused by COVID-19.
Hun Sen Blvd To Become a Shopping Mall Hub
Property Area (Khmer) – April 15th, 2020
Hun Sen Blvd is on the verge of becoming a shopping mall hub, with three mega shopping mall projects in line. The first shopping mall is PH Diamond Place, developed by Peng Huoth Group. The second mall is Chip Mong 271 Megamall, under the development of Chip Mong Group. Aeon 3 is the third and the largest mall to establish in Cambodia.
CSX: Four More Companies to List Bonds and Equity
Khmer Times – April 15th, 2020
Three financial institutions and one privately-owned company are expecting to list their corporate bonds and equity on Cambodia Securities Exchange (CSX) by the end of April and early May.
60-megawatt Solar Power Station Stars Generating to the National Grid
Construction Property – April 15th, 2020
The latest solar power station located in Kampong Chhnang province has officially put into use. The solar power plant is an investment of Scheitech Renewable Co., ltd. The plant currently generates up to 60-megawatt of power.
Most Factories in Cambodia Operate as Usual During Khmer New Year
Vietnamplus – April 14th, 2020
Up to 95% of the total factories in Cambodia are operating as usual during Khmer New year. The measure was put out by the government to fight with the spread of the COVID-19 virus. According to Heng Sour, Cambodia’s Labour Ministry spokesman said that only 5 per cent of the total factory workforce was taking emergency leave.
See also our previous weekly news round-up: