Property News Roundup August 29th, 2022

29 August 2022 | Posted in News

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

  1. Over 8,000 illegal construction cases found in Angkor Park

After inspection by the Minister of Land Management Urban Planning and Construction HE Chea Sophara in Siem Reap, there were over 8,000 cases illegal construction and land ownership in the Apsara protected zone.

August 19, 2022 | Construction Property | Link: https://bit.ly/3dGI5hn

  1. Speed Cameras Along NR3 to be Upgraded to Smart CCTVs to Spot Traffic Law Violators

The Ministry of Public Works and Transport (MPTW) is preparing to connect to the internet with security cameras along NR3 to spot drivers who do not obey the traffic rules.

August 19, 2022 | Construction Property | Link: https://bit.ly/3R1KfGH

  1. 2,025ha of Phnom Tamao Land Officially Registered as Protected Zone Under New Royal Decree

Under a new Royal Decree No. 0822/1008, the land is divided into three areas including 1,021ha of protected forest for wildlife rehabilitation; 530ha for a botanical garden, and 474ha of zoo & wildlife care for tourism and education.

August 20, 2022 | Construction Property | Link: https://bit.ly/3R0WXFz

  1. $17M investment projects in Kandal, Preah Sinhanouk Province

Aiding the job prospects and investment potential in two provinces in the country, the Council for the Development of Cambodia (CDC) gave approval for four new investment project worth $17 million.

August 22, 2022 | Khmer Times | Link: https://bit.ly/3pAIc0D

  1. Gov’t approved to build of 2 more flyovers in Phnom Penh City

The Phnom Penh Municipal Administration will build these two bridges including: 1. The flyover at the intersection of Hun Sen Blvd, Monivong Blvd, and Royal Cambodia Armed Force Blvd (Street 271); 2. The flyover at the intersection of St. John Plaza and the intersection of Russian Federation Blvd.

August 22, 2022 | Construction Property | Link: https://bit.ly/3dPo4Fw

  1. Global interest rate increases hurt Cambodia, says ADB

The increase in global interest rate has adversely affected many ADB developing member countries (DMCs) with heavy food import needs such as Cambodia, Fiji, Nepal, Philippines and Thailand, according to the Asian Development Bank report.

August 23, 2022 | Khmer Times | Link: https://bit.ly/3T9VkqZ

  1. 54th AEM to focus on economic growth with ASEAN partners

Cambodia is all set to host the 54th ASEAN Economic Ministers’ (54th AEM) meet in Siem Reap Province from September 14-18 with prime agenda on growth in the region, economic recovery from pandemic and trading with most important economic powers.

August 23, 2022 | Khmer Times | Link: https://bit.ly/3PK3gfV

  1. Koh Yor Bridge Projects Begins Construction

The construction of a concrete bridge connecting Koh Yor, now the working group has started to open the construction site. This was confirmed by Mr. On Davuth of the Public Works Department of Koh Kong Province.

August 23, 2022 | Construction Property | Link: https://bit.ly/3dRtOi1

  1. Land Ministry speeds up Run Ta Ek new community zone establishment

After finding over 8,000 cases of illegal construction in Angkor Park, the Minister of Land Management, Urban Planning & Construction HE Chea Sophara has issued an urgent order to pare 6,500 plots of land in Run Ek in Banteay Srey District for those families,

August 23, 2022 | Construction Property | Link: https://bit.ly/3dFMH7l

  1. MLMUPC has registered more than 1.6 million plots of land in the last 5 years

From 2018 to the middle of 2022, the initial registration reached 1,691,489 plots, equal to 24.16%. This was stated by HE Theng Chansangvar in the press conference on August 24 2022.

August 24, 2022 | Construction Property | Link: https://bit.ly/3TrKxsH

  1. Cambodia attracts more than 2000 construction investment projects worth $1.2 billion in first six month

Cambodia has provided licenses in some 2,000 construction projects with a total investment of $1.2 billion in the first half of 2022, a senior officer said on Wednesday.

August 25, 2022 | Khmer Times | Link: https://bit.ly/3wsEgTC

  1. NR67 development to boost Cambodia-Thailand trade, tourism

The development of National Road 67 (NR67), connecting Cambodia and Thailand, is expected to enhance the trade, tourism and investment tie between the neighboring countries.

August 25, 2022 | Khmer Times | Link: https://bit.ly/3TgcXFB

  1. Gov’t urges private sector to build more affordable housing amid high demand

The government has urged the private sector to continue building more affordable housing projects to meet growing demand, while to date Phnom Penh and Kandal have a total of four state-private affordable housing projects.

August 25, 2022 | Construction Property | Link: https://bit.ly/3q4Om9L

  1. Road 11-km connecting Rolea Bier and Kampong Tralach districts Begins to Construct

Ministry of Rural Development inaugurated the construction of 01 double-deck asphalt road with a length of 11,085km from Rolea Bier District to Kampong Tralach district Kampong Chhnang province with a budget of more than US1.5 million.

August 25, 2022 | Construction Property | Link: https://bit.ly/3KjLb7j

  1. Royal Government to issue $300 million in government bond

The Royal Government of Cambodia will officially start issuing $300 million worth of government bond for the first time from September 2022.

August 25, 2022 | Construction Property | Link: https://bit.ly/3RdvOPS