Property News Roundup April 26th, 2022
Property News Roundup April 26th, 2022
We’re delighted to share the weekly news highlights below.
- Power generation surges 8% in2021
Cambodia generated more than 9.709 billion kilowatt-hours (kWh) of electricity on its own in 2021, an increase of 7.86 per cent compared to over 8.614 billion kWh in 2020.
April 18, 2022 | Phnom Penh Post | Link: https://bit.ly/3rx4Lov
- KNY saw over 4.6million visitors
For the three-day Khmer New Year from April 14-16, 2022, a total of 4,590,326 people, including 4,561,477 national guests and 28,849 domestic foreigners, travelled in Cambodia.
April 18, 2022 | Khmer Times | Link: https://bit.ly/3EkMfEY
- World Bank predicts Cambodia’s economic growth for 2022 and 2023
The World Bank forecasts that the Cambodian economy will return to positive growth in 2022 at 4.5% and 5.5% in 2023 according to a recent report.
April 18, 2022 | Cambodia Investment Review | Link: https://bit.ly/3JQi35I
- IA Chief on Cambodia Smart City ambitions
The PPLC will be part of the Smart Growth Connect initiative, and the second project under the ASEAN Smart Logistics Network (ASLN), that supports the ASEAN Connectivity Master Plan 2025.
April 19, 2022 | Phnom Penh Post | Link: https://bit.ly/3EtnI0h
- Over 1,000 construction sites in Angkor Park inspected
The APSARA National Authority (ANA) inspected, consulted, and provided technical assistance to home construction sites for 1029 families in Angkor Park within the Angkor Archaeological Park.
April 19, 2022 | Construction Property | Link: https://bit.ly/3uT53rJ
- Cambodia, Japan inaugurates multiple education facilities in Battambang
Multiple infrastructure and facilities within the Battambang Provincial Teacher Education College built with a Japanese grant have recently been inaugurated.
April 20, 2022 | Construction Property | Link: https://bit.ly/3Meqd9F
- Winners of the Cambodia Real Estate Awards 2022 announced
IPS Cambodia, CBRE, Knight Frank and Century 21 Advanced Property shared the glory for the agency of the year awards in CREA 2022.
April 21, 2022 | Khmer Times | Link: https://bit.ly/3v1Cdpi
- New Concrete Bridge Connecting Pak Klang & Koh Yor in Koh Kong Planned
The government has decided to build a new concrete bridge connecting Pak Klang commune to Kor Yor in Koh Kong province, replacing the old steel bridge to facilitate the travel of people and tourists.
April 21, 2022 | Construction Property | Link: https://bit.ly/3rFDIaD
- Retail’s vacancy rates up as flood of projects loom
CBRE Cambodia reported the drop of retail occupancy rate in Phnom Penh to 66.6 per cent in the first quarter of this year, down 0.4 percentage points from 67 per cent in October-December 2021,
April 22, 2022 | Phnom Penh Post | Link: https://bit.ly/36DPHhA
- $36M Flood prevention system inaugurated
The Project for Flood Prevention and Drainage Improvement aims to tackle the emerging issues of rain water flooding in the northern Wat Phnom in Daun Penh district and in Tuol Kork district’s Boeung Kak I and Boeung Kak II communes was inaugurated on April 20.
April 22, 2022 | Phnom Penh Post | Link: https://bit.ly/3Lbw5jN
- GDT: Unused land registration before end of 2023 get three tax incentives
The General Department of Taxation (GDT) has called on owners of unused land who hold soft titles to register their tax obligations before 2023 to get tax incentives.
April 22, 2022 | Construction Property | Link: https://bit.ly/3vxviDm
- Tax obligations for condos under construction
By law, condos, or any construction projects with construction less than 80% completed and without occupancy/usage, are not subject to tax. The tax exemption is only valid if the project meets both conditions.
April 22, 2022 | Construction Property | Link: https://bit.ly/3K9GmM2