Property News Roundup August 10th, 2021

We’re delighted to share the weekly news highlights below.

1. KH restructures $5.5B worth of loans to ease people’s burden

Cambodia’s banking and financial institutions have restructured 22.2 trillion riel ($5.5 billion) in loans for 367,239 borrowers in the first half of this year, to ease the burden of the people as the ongoing coronavirus outbreak dampens economic activities, according to the National Bank of Cambodia (NBC).

Aug 02^nd, 2021 | Khmer Times | Link: https://bit.ly/3idhtEt

2. CDC approves $71M in new investments to create 9,500 jobs

Eight new projects worth $71.4 million have been approved by the Council for the Development of Cambodia (CDC). The new projects will create over 9,500 jobs at a critical juncture in the Kingdom’s economic recovery.

Aug 03^th, 2021 | Khmer Times | Link: https://bit.ly/3Cde0ho

3. NR 4 to be widened from 7m to 10m

The Ministry of Public Works and Transport is in the final stages of project planning for the widening of National Road 4 from 7m to 10m. The project is scheduled to last 24 months from 2022 to 2023.

Aug 03^th, 2021 | Phnom Penh Post | Link: https://bit.ly/37hqS7O

4. PP city hall unveils plan to build 3 more wastewater treatment plants by 2035

The Phnom Penh Municipality in cooperation with JICA has unveiled plans to build three more wastewater treatment plants from 2026 to 2035, following the ground-breaking on the Beoung Choeung Ek plant in May.

Aug 03^th, 2021 | Construction Property | Link: https://bit.ly/3A6YeT1

5. MoE to strengthen waste management; 50 incinerators built in 49 districts

The Ministry of Environment (MoE) has thus far built over 50 incinerators in 21 provinces or 49 districts, to strengthen the nationwide waste management system more effectively.

Aug 03^th, 2021 | Construction Property | https://bit.ly/3fpdB1f

6. Condo developer JS Land Plc approved in-principle for the CSX Growth Board

Cambodia Securities Exchange (CSX) has formally announced an in-principal approval for the condominium developer JS Land Plc on the exchange’s Growth Board. The approval is the second for the board launched in 2015, designed to assist SMEs raise capital.

Aug 04^th, 2021 | Construction Property | https://bit.ly/3yo2Yn0

7. 2 Factories worth over $8M approved for Kampong Speu & Kandal

The Council for the Development of Cambodia (CDC) approved two investment projects on Monday 2 August worth US$8.5 million. The first one has been granted to Sen Wang Ying New Material Co., Ltd to invest US$4.1 million to build a shoe accessories factory in Samraong Tong district, Kampong Speu province, and the second one is Gianni Vince Bags (Cambodia) Co.Ltd, which will be in Samraong Tong district, Kandal province.

Aug 04^th, 2021 | Construction Property | https://bit.ly/3CcUTUv

8. New Tourism Port set for Kep Province

The Kep provincial administration has recently allowed a private company to build another tourism port in the city to facilitate the travel of tourists and fishermen. Named Se Sar (White Horse) port, the port project has reached the construction agreement after studying the impacts for over a year.

Aug 05^th, 2021 | Construction Property | https://bit.ly/3ltAJQc

9. 10ha Landfill in Kampong Chhnang set for completion by late 2021

Construction of the 10-hectare landfill in Kampong Chhnang is proceeding smoothly and scheduled for completion as planned. The entire project includes the construction of landfills, sewage treatment plants, filter ponds, administrative buildings, water quality control well, access roads, generators, drainage systems, and fences, among other infrastructure.

Aug 05^th, 2021 | Construction Property | https://bit.ly/3s1BWzp

10. Mortgage applications drop by 32% in Q2; value shrinks 17%

The number of mortgage loan applications in the second quarter of 2021 dropped by 32% while the total loan value also decreased by 17%, compared to the first quarter of the same year, according to a recent report by the Credit Bureau Cambodia (CBC). It also added that as of June 2021, the number of mortgage loan applications was recorded at 146,380 applications, or equal to 11.26% of the total 1.3 million loan applications.

Aug 06^th, 2021 | Construction Property | https://bit.ly/3AafNSc

11. 3 draft laws on trades – RCEP, CCFTA, Competition, ‘effective in 2021’

Three major draft laws on trade are expected to take effect before the end of 2021, after receiving full support from National Assembly (NA) leaders and specialised committees, as well as the Senate, according to a Ministry of Commerce spokesman.

Aug 06^th, 2021 | Phnom Penh Post | https://bit.ly/3CpP5au

12. Preah Vihear breaks ground on Tourism & Hospitality Centre

The National Authority for Preah Vihear has broken ground on the new Preah Vihear Tourism and Hospitality Centre, to boost the tourism sector in the province. The project is scheduled to be completed by mid-2022.

Aug 06^th, 2021 | Construction Property | https://bit.ly/3fwhvFR