Property News Roundup August 22nd, 2022
We’re delighted to share the weekly news highlights below.
- H&M to open a big flagship store at Chip Mong 271 Mega Mall in mid-September
H&M had signed MoU with Chip Mong Retail to open another flagship store in Cambodia at the Chip Mong 271 Mega Mall with a total retail space of 2,100 sqm, expanding two floors. The store is scheduled to open on 12 September, the same time as the soft opening of Chip Mong 271 Mega Mall.
August 16, 2022 | Construction Property | Link: https://bit.ly/3SWxaR0
- Three Investment Projects Worth US$15.7million Approved for K. Speu & Phnom Penh
The Council for the Development of Cambodia (CDC) has approved the plans of three private firms to invest US$15.7 million in building three factories, JADE FASHION (CAMBODIA) GARMENTS COMPANY LIMITED, HONG YU FANG GARMENT CO., LTD, and SHUN WEI FANG ZHI KE JI CO., LTD, in Kampong Speu and Phnom Penh.
August 16, 2022 | Construction Property | Link: https://bit.ly/3Qu0WL1
- The National Minimum Wage Council has started talks to consider raising the $194 monthly salary of garment workers
Unions representing garment workers in Cambodia are seeking a monthly wage hike of between $20 and $50 for their members in talks with the Garment Manufacturers Association in Cambodia (GMAC).
August 16, 2022 | Khmer Times | Link: https://bit.ly/3C8TjWc
- Singapore Real Estate Company acquires 3.5 hectares of land on Koh Nora Development Island
Singapore real estate company AKRAM Development Co., Ltd has acquired 3.5 hectares of land on Koh Norea with plans to turn it into a new landmark property. The investment is estimated at over US$150 million while the construction of the sales office and mock-up units will be completed in the first quarter of 2023.
August 16, 2022 | Construction Property | Link: https://bit.ly/3Qu1HUz
- ARDB inks $30M loan pact to promote agri sector
The Agriculture and Rural Development Bank of the Ministry of Economy and Finance has signed the $30 million subsidiary loan agreement with three banks and micro-financial institutions to provide loans with an annual interest rate of 5 percent for farmers, small and medium enterprises, agricultural cooperatives and producers for all agricultural products except rice.
August 17, 2022 | Khmer Times | Link: https://bit.ly/3QMHuJ7
- Phnom Neak Sor Rehabilitation Project Worth Over US$2 Million Completed
The project to rehabilitate the historical mountain area “Phnom Neak Sar or Lor Ang Preah Neang Romsay Sak” which is located Khsach Laeth village, Ansa Chambak commune, Krakor district, Pursat province, has been completed at a cost of more than US$2 million US dollars
August 17, 2022 | Construction Property | Link: https://bit.ly/3QTz9nj
- RUPP, University of Seoul collaborate on urban planning dept
The Royal University of Phnom Penh (RUPP) and the South Korea-based University of Seoul (UoS) have jointly launched an urban planning education faculty in Cambodia. The “Leading University for International Cooperation” project is slated to run for seven years from 2021 to 2028 with UoS assisting it to build an appropriate infrastructure for a quality learning environment.
August 18, 2022 | Phnom Penh Post | Link: https://bit.ly/3A8a8O6
- Huawei Cambodia Signs Green & Smart Campus MoU with Cambodia Travel Goods and Leather Association (CTLA)
On 6 August 2022, Cambodia Travel Goods and Leather Association (CTLA) launched its grand opening ceremony in Sofitel Phnom Penh Phookethra while Huawei Cambodia and CTLA also signed a Memorandum of Understanding for further cooperation in Green & Smart Campus.
August 18, 2022 | Khmer Times | Link: https://bit.ly/3SVLEjT
- 150MW Tatai Leu Hydropower Dam in Koh Kong completed about 15%
The Tatai Leu Hydropower Dam located in Thma Bang district and Koh Kong district in Koh Kong is about 10 to 15 percent complete. The project will be implemented by Cambodia Upper Tatay Hydropower Co Ltd with a total investment of US$389 million and a concession of 39 years.
August 18, 2022 | Construction Property | Link: https://bit.ly/3AubN23
- Cambodia-Thailand Stung Bot-Ban Nong Ian border gate close to trial use
Cambodia and Thailand are considering putting the Stung Bot-Ban Nong Ian border gate into trial use, aiming to facilitate trade activities and travel of people and tourists. The facilities are being built by CM Grand Development Co., Ltd & Tan Kim Eng Co., Ltd with a budget of approximately $24 million, a loan from the Thai government.
August 19, 2022 | Khmer Times | Link: https://bit.ly/3QADSue