Property News Roundup August 2nd, 2021
We’re delighted to share the weekly news highlights below.
- Thai Boon Roong Towers on hold
The study on the technical designs and fundamental constructions of the Thai Boon Roong Twin Towers has been completed, while the main construction is expected to begin soon after the COVID-19 pandemic subsides.
July 26th 2021 | Construction Property | Link: https://bit.ly/36Y1jbR
- Chip Mong Retail continues construction despite C-19
The construction for Chip Mong 4 Retail Malls has not stopped despite the worsening of the covid. Chip Mong Sen Sok will be opened this year while Chip Mong 271 Mega Mall and Chip Mong 598 Mall in 2022.
July 26th 2021 | Construction Property | Link: https://bit.ly/3732JSa
- RK-CCV Concrete Bridge 50% Complete
Construction of the concrete bridge across the Tonle Sap River from National Road 5 in Khan Russey Keo to National Road 6 in Khan Chroy Changvar is 50% complete as of 23 July 2021.
July 26th 2021 | Construction Property | Link: https://bit.ly/3y9gR8C
- $2M Stadium in Kampong Speu construction to complete in April 2022
Located in Chabar Mon city, the project is being built on over 4 hectares of land under a US$2 million fund from the NagaWorld Foundation and is scheduled to be completed by April 2022 in time for the 2023 SEA Games.
July 27th 2021 | Construction Property | Link: https://bit.ly/3i8sWFv
- New Concrete Road in Meanchey District breaks ground
The project focusses on expansion of the road to 12 metres wide and 1,370 metres long. The road will connect Street 217 to Street 271 in Sangkat Stung Meanchey II in Khan Meanchey.
July 27th 2021 | Construction Property | https://bit.ly/3f1LeGt
- 55 projects implemented through MLC
Through Mekong-Lancang Cooperation (MLC), Cambodia has implemented 55 projects worth $21 million, six of which were through the Ministry of Agriculture, Forestry and Fisheries.
July 28th 2021 | Phnom Penh Post | https://bit.ly/3l54Tci
- Cambodia signed Nuclear power-MOU with China and Russia
Cambodia signed MOU with the Russian Atomic Energy Corporation and the China National Nuclear Corporation, aims to boost cooperation on nuclear energy and the use of nuclear technology in priority areas such as industry, agriculture, food safety, energy, construction, the environment and medicine.
July 28th 2021 | Khmer Times | https://bit.ly/3y8SaJl
- Meridian International Holding Appoints CBRE Cambodia as Sale Agent for Flatiron Project
Meridian International Holding signed an agreement with CBRE Cambodia on Tuesday, appointing the international real estate service provider as their sole agent in the kingdom for sales and leasing at ‘Flatiron by Meridian’.
July 28th 2021 | Construction Property | https://bit.ly/3BLP6oB
- MPWT urges the drafting of New Port Law
Minister of Public Works and Transport urged all relevant officials to speed up works on drafting the New Port Law. The main objective of this law is to effectively control and manage the port system in Cambodia.
July 28th 2021 | Construction Property | https://bit.ly/3x4ghY9
- H&M’s first store to open in Cambodia in 2022
H&M plans to open its first store in Cambodia next year as part of its business expansion in the region. It signifies strong economic growth with increased domestic consumption by Cambodians.
July 29th 2021 | Construction Property | https://bit.ly/3l8OXFN
11. Gov’t press forward new roads for SHV
The government’s relentless push to improve the Kingdom’s logistics infrastructure got another boost this week with officials committing to build 11 new roads.
July 29th 2021 | Khmer Times | https://bit.ly/3zIYfMU
12. Consumer loans rise to over US$33B as of H1, construction & property attributed 31%
As of H1of 2021, consumer loans in the banking sector have increased to over US$33.9 billion, 31% which were attributed to the construction and property sectors.
July 29th 2021 | Construction Property | https://bit.ly/3x8NdPd
13. Number of Construction Projects, Value & Area in H1 Dropped
The number of construction projects, the investment value, and total area approved in H1 2021 have decreased by 11.4%, 34.3%, and 29.9% respectively, compared to the same period last year. The drop predominantly stems from the slowdown in tourism and commercial construction projects.
July 30th 2021 | Construction Property | https://bit.ly/3rHEUJ7
14. City Hall confirms curfew and restrictions in Phnom Penh
The Governor of Phnom Penh, Khuong Sreng, has issued administrative measures in Phnom Penh for 14 days from 23:59 on July 29 until August 12, 2021 and imposed a curfew from 9 pm to 3 am to fight and prevent the spread of COVID-19.
July 30th 2021 | Khmer Times | https://bit.ly/3xdAXwX