Property News Roundup April 11th, 2022
We’re delighted to share the weekly news highlights below.
- Up to 700,000 foreign tourists expected to visit Cambodia this yearUp to 700,000 international visitors are expected to visit Cambodia this year, after the Royal Government had recently eased the entry rules. According to Thong Khon, Minister of Tourism, in the first three months of this year, 151,680 foreign tourists were recorded in Cambodia, an increase of 114 percent in the same period last year.
Date: 04 April 2022 | Khmer Times | Link: https://bit.ly/3DDyuk8
- CDC okays $2.39B of projects in Q1
The Council for the Development of Cambodia (CDC) has in the first three months of this year announced its approval of final registration certificates for 41 projects with total capital investment of more than $2.39 billion that are expected to create 40,147 jobs.
Date: 04 April 2022 | Phnom Penh Post | Link: https://bit.ly/3DB76TX
- Preah Sihanouk plan’s Phase II ‘soon’
Preparation for the Preah Sihanouk Multi-Purpose Special Economic Zone masterplan is entering into the second phase, which illustrates the future of the plan, once the Ministry of Economy and Finance reviews and finalises the draft results from the report’s first phase.
Date: 05 April 2022 | Phnom Penh Post | Link: https://bit.ly/3qZkFaY
- New International Airport in Siem Reap will help kick start Cambodia’s economy and tourism
Cambodian Prime Minister Hun Sen said in Siem Reap on Sunday that Chinese-invested Siem Reap Angkor International Airport will play an important role in boosting the kingdom’s economy and tourism when it comes online in late 2023.
Date: 05 April 2022 | Phnom Penh Post | Link: https://bit.ly/3J3mb1X
- World Bank says RCEP, bilateral FTAs will boost Cambodia’s economy
The Regional Comprehensive Economic Partnership (RCEP) free trade pact and bilateral free trade agreements (FTA) will be a booster for Cambodia’s economic growth in the coming years, according to the World Bank’s economic update report released on Tuesday.
Date: 06 April 2022 | Khmer Times | Link: https://bit.ly/3M1uSMb
- Prudential Invests US$5 million in CAIC Guaranteed Bonds
Prudential (Cambodia) Life Assurance PLC has invested US$5 million in guaranteed bonds of the Cambodia Airport Investment Co Ltd (CAIC) for supporting the development of the Techo International Airport.
Date: 06 April 2022 | Construction Property | Link: https://bit.ly/3KhJKoU
- Direct Zhengzhou-Phnom Penh route launched: SSCA
Cambodia Angkor Air, the national flag carrier airline, on April 5 launched a direct flight from the east-central Chinese city of Zhengzhou to Phnom Penh, according to a senior aviation official. State Secretariat of Civil Aviation (SSCA) spokesman Sin Chansereyvutha lauded the launch as a step forward in the resumption of direct air routes between Cambodia and China after a hiatus of more than two years due to Covid-19.
Date: 07 April 2022 | Phnom Penh Post | Link: https://bit.ly/3JfMPVl
- IFC helps promote competitiveness and sustainable growth in Cambodia’s garment sector
Despite the challenges of COVID-19, local apparel and textile suppliers have cut energy and water consumption through a range of sustainable solutions under an IFC programme which aims to increase resource efficiency and reduce operating costs.
Date: 07 April 2022 | Khmer Times | Link: https://bit.ly/3r4dgac
- WB: Law on Investment, FTA, & RCEP Expected to Attract More Investment in Cambodia
The new Law on Investment, the China and South Korea FTAs, and the Regional Comprehensive Economic Partnership (RCEP) are expected to help boost investment and trade in Cambodia in the coming years, according to a World Bank report on Tuesday.
Date: 08 April 2022 | Construction Property | Link: https://bit.ly/3LNNnTX
- Cambodia’s real-estate sector remains robust in Q1: CBRE
While not showing any spectacular growth the Phnom Penh real-estate sector remained robust in the first quarter of 2022, with many areas offering scope for optimism, according to a press conference hosted by CBRE Cambodia.
Date: 08 April 2022 |Cambodia Investment Review | Link: https://bit.ly/37rx4xs
- Q1 office occupancy rates disappoint as Covid-19 cloud hangs
The occupancy rate of office space in the capital dipped by 1.2 percentage points to 66.9 per cent in the first quarter of 2022, compared to the fourth quarter of last year, as three new projects were launched and Covid-19 uncertainty persisted, according to Chin Chandaluch, a representative of real estate company CBRE Cambodia.
Date: 08 April 2022 |Phnom Penh Post | Link: https://bit.ly/3jjjI9c