Property News Roundup August 21st, 2023
We’re delighted to share the weekly news highlights below.
- MoT Approved Master Plan to transform Kep into High-End Luxury Tourist Haven
The Cambodian government, with its sights set on fostering unparalleled tourism growth, has granted approval to the Kep Tourism Development Master Plan 2023-2035.
August 14, 2023| Construction Property | Link: https://tinyurl.com/yc7e4ye5
- Property Insurance Premiums reach $10.7M in Q2 2023
The dynamic landscape of Cambodia’s insurance sector continues to make waves as property insurance premiums surged to an impressive US$10.7 million in Q2 of 2023.
August 14, 2023| Construction Property | Link: https://tinyurl.com/25dm3rab
- Danong Development Group: Pioneering a $12.7B Agro-Industry Revolution across 6 Cambodian Provinces
In a landmark move poised to redefine Cambodia’s agricultural landscape, China’s Danong Development Group has unveiled a visionary investment initiative, setting its sights on a colossal investment of over US$12.7 billion spanning six strategic provinces.
August 15, 2023| Construction Property | Link: https://tinyurl.com/bdjzyxfc
- Revenue up for PWSA, MJQE in second quarter of 2023
Two listed firms reported sound business performance in the second quarter of the year ended June 30, thanks to business growth despite the regional and global economic slowdown.
August 15, 2023| Phnom Penh Post | Link: https://tinyurl.com/bdese6b6
- Kep Sea Festival aiming to establish province on the international map
Kep province is set to host the 10th Sea Festival during the third week of December 2023. The annual festival (except during Covid-19) alternates between Cambodia’s four coastal provinces, Kep, Kampot, Preah Sihanouk and Koh Kong.
August 16, 2023| Phnom Penh Post | Link: https://tinyurl.com/4xdr7b42
- Sihanoukville port slides one third owing to falling market
The state-run, listed deep-sea port Sihanoukville Autonomous Port (PAS) reported slower growth in the second quarter of 2023 due to the slowdown of the regional and global economy stemming from the ongoing impact of the geopolitical tension.
August 16, 2023| Phnom Penh Post | Link: https://tinyurl.com/242nzecj
- Preserving KH’s Natural Legacy: Gov’t establishes 13 flourishing natural heritage sites spanning 40K+ ha
In a resounding commitment to safeguarding the nation’s cultural and ecological treasures, the Government of Cambodia has unveiled a visionary plan to establish 13 natural heritage sites spanning an expansive area of 46,949.42 hectares.
August 17, 2023| Construction Property | Link: https://tinyurl.com/mrxvwzhh
- KH gears up to welcome 7 million tourists by 2026
Cambodia is giving top priority to training professionals in the tourism sector as it gears up to receive seven million international tourists by 2026, said Chhay Sivlin, President of the Cambodia Tourism Association (CATA).
August 17, 2023| Khmer Times | Link: https://tinyurl.com/23ar93ed
- Factory demand soars in 2023, despite slower overall investment
Demand for industrial property in 2023 is rising compared to 2022, said Stephen Suen, long-time commercial and industrial property expert and co-owner-operator of Yi Fung Real Estate Services in Phnom Penh since 2015.
August 18, 2023| Phnom Penh Post | Link: https://tinyurl.com/2cvus5kh
- Tax revenues, debt collections decline in first 7 months
The General Department of Taxation (GDT) of the Ministry of Economy and Finance (MEF) has collected approximately $2.31 billion in the first seven months of 2023 or 64.76 percent of the target set in the national budget law 2023, while the collection in July this year alone has contributed about $240.43 million or 6.73 percent of the target, said a GDT statement on Wednesday.
August 18, 2023| Khmer Times | Link: https://tinyurl.com/4snbvpax