Property News Roundup August 8th, 2022

08 August 2022 | Posted in News

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

  1. Cambodia, South Korean Firm Discuss Smart Water Technology Cooperation

Ministry of Industry, Science, Technology and Innovation and Korea-based GREENTECH INC have discussed cooperation on smart water technology to solve challenges and strengthen the efficiency of water supply management in Phnom Penh.

July 30, 2022 | Khmer Times | Link: https://bit.ly/3zgIAWy

  1. Cambodia’s poverty rate falls to 17.8 pct in 2020

The poverty rate for Cambodia has dropped to 17.8 percent in 2020, from nearly 40 percent in 2009, a senior official said here on Friday.

July 30, 2022 | Khmer Times | Link: https://bit.ly/3vvCvo1

  1. Credit to construction & real estate sector rises to $14B as of H1 2022: NBC

As of June 2022, total loans provided to the private sector reached over US$51.5 billion, a 23.4% year-on-year rise. Among all sectors, loans provided to construction and real estate represent 32%, or approximately US$14 billion. According to the National Bank of Cambodia (NBC) report published on 25 July, for banking institutions, personal home loans grabbed 13.7% of the total, while the construction and real estate sectors took 9.3% each.

August 01, 2022 | Construction & Property | Link: https://bit.ly/3bofGvK

  1. US$1.5bn Kampot Port Listed as Largest Port Project Initiated Globally in Q2 2022

he newly announced US$1.5 billion international port in Kampot province has become the largest port project initiated globally in Q2 2022, according to GlobalData. In 2022, there are five giant port projects, of which the Cambodian port ranks first.

August 01, 2022 | Construction & Property | Link: https://bit.ly/3BzJ9xB

  1. Imports of construction materials worth $1.27B in first half

A National Bank of Cambodia report showed that the imports of raw materials and construction materials to Cambodia were valued at US$1.27 billion in the first half of 2022, an increase of about 10% over the same period last year.

August 01, 2022 | Construction & Property | Link:  https://bit.ly/3Jlx0OD

  1. $300M+ worth tyre plant planned in Sihanoukville SEZ

A Chinese firm plans to invest over US$300 million to construct a largest tyre plant at Sihanoukville Special Economic Zone (SSEZ) in Preah Sihanouk province in 2023

August 01, 2022 | Khmer Times | Link:  https://bit.ly/3vxxHhW

  1. 62% in the AmCham survey say buying real state in Cambodia a good investment now

Over 62% of respondents of the recent Real Estate & Construction Survey conducted by AmCham Cambodia have said that buying property in Cambodia now is a good investment as the market has started to see an increase in international investors.

August 02, 2022 | Construction & Property | Link:  https://bit.ly/3Sm8ZuR

  1. Battambang Provincial Administration to continue beautification process of provincial capital’s conservation area

Local news reported that the provincial administration said that the beauty of Battambang City Conservation Area has started to appear gradually through the collaborative work of the people with the administration.

August 02, 2022 | Khmer Times | Link:  https://bit.ly/3P9Futz

  1. Gov’t eyes 7% poverty rate

The government will redouble efforts to reduce Cambodia’s poverty rate to a level at or below seven per cent in the near future to continue the nation’s recent record of progress, from at least 50 per cent in the 1990s to below 10 per cent before the Covid-19 pandemic struck.

August 02, 2022 | The Phnom Penh Post | Link:  https://bit.ly/3Q0BjkK

  1. NBC: In 2022, the Cambodian economy Growth by 5.3% over 2021-3%

The National Bank of Cambodia (NBC) has projected that Cambodia’s economic growth in 2022 will be at 5.3%, higher than the previously-estimated rate, which was only 3%. The growth is due to the global economic recovery and the rapid resumption of economic activity.

August 03, 2022 | Construction & Property| Link:  https://bit.ly/3boozWl