Property News Roundup August 7th, 2023
We’re delighted to share the weekly news highlights below.
- Elevating Travel Horizons: Siem Reap International Airport Set to Soar on 16 October
A milestone in Cambodia’s aviation landscape is set to unfold as the new Siem Reap International Airport opens for flights on 16 October 2023. The Secretariat of State for Civil Aviation confirmed the official opening date, marking a momentous occasion for the nation’s travel industry.
July 27, 2023 | Construction Property | Link: https://tinyurl.com/4wfzm5tj
- Three Indicators: Glimmer of Hope for APAC Real Estate Market, but Depending on China
China’s reopening and the perception that interest rates are nearing their peak have led to brighter economic prospects in the region. However, Q1saw a dip in commercial real estate investment, plunging to its lowest level since 2010.
July 28, 2023 | Construction Property | Link: https://tinyurl.com/yt6y3th4
- Historic Cambodia-Thailand Railway Line Launches, Boosting Cross-Border Trade
A significant milestone in regional transportation was achieved today as Cambodia and Thailand celebrated the official opening of their first-ever railway link, forging a crucial connection to facilitate seamless cross-border trade and bolstering economic ties between the nations.
July 29, 2023 | Construction Property | Link: https://tinyurl.com/42x4yym4
- Korea Pledges $37M for Mobile Hospital in Kampong Speu
The University College of Medicine is gearing up to establish a state-of-the-art mobile hospital, offering free medical treatment to the local community. Mr. Vy Samnang, Governor of Kampong Speu Province, took to his official Facebook page on July 27, 2023 to share the promising news, announcing the planned investment of over US$37 million for this noble initiative.
July 29, 2023 | Construction Property | Link: https://tinyurl.com/yc3etytp
- Cambodia’s Citizenship by Investment Ranked 11th, Emerges as Key Catalyst for Foreign Real Estate Interest
Cambodia’s real estate market is witnessing a surge in foreign interest, fuelled by its impressive Citizenship by Investment (CBI) program, which recently earned the remarkable 11th spot in Henley & Partners’ global rankings. This naturalisation offers foreign investors the gateway to become freehold landowners in the country.
July 31, 2023 | Construction Property | Link: https://tinyurl.com/4sj8r7b6
- Vietnam’s Cutting-Edge Rubber Processing Plants Unveiled in Kampong Thom, Paving the way for Enhanced Production
Vietnam’s Chipa rubber processing plant in Kampong Thom, capable of processing 2 tons of rubber per hour was officially launched in an inauguration ceremony on 28 July 2023.
July 31, 2023 | Construction Property | Link: https://tinyurl.com/2tmudjy7
- Laos route to China for the Kingdom’s good explored
The Ministry of Public Works and Transport is coordinating efforts to improve the ease of transporting Cambodian agricultural products to Chinese markets, as current routes through Thailand and Vietnam present some difficulties, said ministry spokesman Kong Vimean.
July 27, 2023 | Khmer Times | Link: https://tinyurl.com/ynvvv6ah
- Construction & Real Estate Sector Shows Signs of Recovery in H1 2023
The echoes of recovery reverberate through Cambodia’s construction and real estate sectors, painting an optimistic picture as the nation strides forward into the first half of 2023. A surge in the import of construction materials and equipment, registering a 0.4% increase, amounting to approximately US$911 million compared to the previous year, signifies an industry back on the rise.
August 01, 2023 | Construction Property | Link: https://tinyurl.com/3ekcbus8
- More than 2.64 million tourists visited Angkor in the first seven months of 2023
According to tourism officials from APSARA Authority, the number of national and international tourists visiting Angkor in the first seven months of 2023 was more than 2,643,000, a significant increase compared to last year, 2022.
August 01, 2023 | Khmer Times | Link: https://tinyurl.com/yknxarjr
- Progress Reches 65% in Conversion of Old Railway into Modenr Concrete Road, Russey Keo
The ambitious project to renovate the former 4,400-metre-long railway line in Russey Keo district into a reinforced concrete road has edged closer to completion, boasting a commendable 65% progress. National Television of Cambodia shared this significant update on 31 July 2023.
August 02, 2023 | Construction Property | Link: https://tinyurl.com/878nundj
- CamDX Registers Construction Companies with Investment Capital of US$1bn & Real Estate Firms with US$921m
The innovative Online Business Registration Platform, CamDX, has emerged as a catalyst for economic growth, registering an impressive influx of investments within Cambodia’s construction and real estate domains.
August 02, 2023 | Construction Property | Link: https://tinyurl.com/3wta6x2c
- Transformative Mekong River Bridge Project in Kratie Province Gains Momentum, Reaches 15% Completion
A large infrastructure project is swiftly shaping the landscape of Kratie province as the construction of a pivotal bridge across the Mekong River marks a significant milestone, achieving an impressive 15% completion rate as of July 2023.
August 02, 2023 | Construction Property | Link: https://tinyurl.com/4jccnuf3
- The Grand Inauguration of Ring Road 3 at a Whopping US$464 Million
The highly anticipated inauguration of Ring Road 3, a testament to connectivity and progress, was celebrated under the leadership of Samdech Hun Sen, the PM of Cambodia on 3rd August 2023.
August 03, 2023 | Construction Property | Link: https://tinyurl.com/37v7c95v
- Kampot tourism port seeks public-private partnership
The Ministry of Economy and Finance, Ministry of Public Works and Transport, and the Ministry of Tourism will co-host an investor seminar on “The Operations and Maintenance of Kampot Tourism Port through the Public-Private Partnerships”.
August 03, 2023 | Khmer Times | Link: https://tinyurl.com/yw98s7z6