Property News Roundup January 23rd, 2023

23 January 2023 | Posted in News

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

  1. MPWT to renovate drainage system along NR4

The Ministry of Public Works and Transport is planning the enhance and renovate the drainage system along NR4 in Phnom Penh’s Por Senchey district.

January 12, 2023 | Construction Property | Link: https://bit.ly/3ZIjfkW

  1. Japan to help set up new clean water supply system in Siem Reap

Japan has provided a grant of US$204,637 for the installation of a water supply system in the community of Kampong Kleang commune of Siem Reap province.

January 13, 2023 | Construction Property | Link: https://bit.ly/3iHMHqs

  1. Gov’t approves draft law to transform Sihanoukville into “Multi-Purpose Special Economic Zone”

The Royal Government of Cambodia has fully approved the draft “Land Management and Use Policy for the Development of Sihanoukville as a Multi-Purpose Special Economic Zone 2022-2038”

January 13, 2023 | Construction Property | Link: https://bit.ly/3iLPjn1

  1. Mid-range & Affordable housing still in high demand in 2023

Mid-range and affordable housing will continue to have the highest demand in 2023 as the supply is still far below the demand of 30,000 units per year.

January 13, 2023 | Construction Property | Link: https://bit.ly/3GJAIk3

  1. Construction of new road connecting Bokor to NR4 approx. 60% complete

As of January 2023, the construction of a new road connecting Bokor National Park to NR4 with a total length of 61km, has been approximately 60% complete.

January 13, 2023 | Construction Property | Link: https://bit.ly/3CR2iut

  1. Construction of US$35M Russey Keo Bridge 93% complete

As of January 2023, the construction of the Russey Keo cable bridge across the Tonle Sap River has been 93% completed.

January 16, 2023 | Construction Property | Link: https://bit.ly/3CP7fUz

  1. Cambodia receives over US$4B FDI in 2022

In 2022, Cambodia received foreign investment inflows worth US$4.6 billion, an increase of 7.5% compared to 2021, according to the report of the Council for the Development of Cambodia.

January 14, 2023 | Construction Property | Link: https://bit.ly/3kol8D6

  1. Cambodia allows Korean companies to own 100% of shares without local shares

Cambodia has allowed Korean companies to own 100% of the shares without requiring local shares. This was said during a meeting to pay a courtesy call and discuss the work between Samdech Techo Prime Minister and His Excellency Dr O Myung, former Deputy Prime Minister and delegation of the Korean industry.

January 17, 2023 | Construction Property | Link: https://bit.ly/3XCz62j

  1. Phnom Penh’s retail space tops 613,000 sq m

The launch of nine new development in 2022 has brought the total retail space in Phnom Penh to more than 613,000 sq m, according to real estate firm CBRE Cambodia, in a feat that has been attributed to effective Covid-19 management and relatively early reopening of the country in November 2022.

January 17, 2023 | The Phnom Penh Post | Link: https://bit.ly/3IWm6As

  1. Cambodia has nearly 2,000 industrial plants worth US$16 billion in 2022

Cambodia has 1,982 factories in operation by 2022 with a total investment capital of US$16.6 billion, according to a report from the Ministry of Industry, Technology, Science and Innovation.

January 17, 2023 | Construction Property | Link: https://bit.ly/3HhBE0s

  1. Royal Group to build US$300 international airport on Koh Rong Island

The Royal Group Koh Rong Development Company, a subsidiary of the Royal Group Co Ltd, will build an international airport on Koh Rong which will take five years to complete.

January 18, 2023 | Construction Property | Link: https://bit.ly/3QRISvk

  1. Cambodia’s business establishments increase 50% in 10 years

Cambodia has 753.670 business establishments, employing 2.98 million people, the preliminary results of the 2022 Economic Census said here on Wednesday.

January 19, 2023 | Khmer Times | Link: https://bit.ly/3iRxx1Y

  1. Techo Santepheap Hospital is more than 80% completed

Techo Peace Hospital for Covid 19 is more than 80% completed and is scheduled for completion in June 2023. This was stated by Samdech Techo Hu Sen, the Prime Minister, during a ceremony to inspect the progress of the construction project.

January 19, 2023 | Construction Property | Link: https://bit.ly/3kvORKj

  1. CDC Approves Four Major Projects Worth US$65.4 million in Three Provinces

The Council for the Development of Cambodia (CDC) has given permits to four private firms to invest US$65.4 million to establish four factories in Kampong Speu, Kandal and Svay Rieng provinces.

January 19, 2023 | Construction Property | Link: https://bit.ly/3QU6PlZ