Property News Roundup July 11th, 2022
We’re delighted to share the weekly news highlights below.
- KH’s e-commerce surges nearly a fifth in 2021
The total market value of e-commerce in Cambodia in 2021 was to the tune of $970.10 million, marking an increase of 19.29 per cent from $813.25 million in 2020, according to the commerce ministry’s Trade Training and Research Institute (TTRI).
July 4, 2022 | Phnom Penh Post | Link: https://bit.ly/3bN2WyL
- Royal Gov’t to implement $84M-sewer development project in Poipet
The government has set aside $84 million for the development and construction of a drainage system for large sewers in Poipet City, Banteay Meanchey.
July 4, 2022 | Khmer Times | Link: https://bit.ly/3bNYu2H
- MEF: Construction is forecasted to recover only 3% in 2022
In the first quarter of 2022, there werea total of 1,001 approved construction projects, down by 6.1% from the same period last, according to a recent report by the Ministry of Economy and Finance (MEF).
July 5, 2022 | Construction Property | Link: https://bit.ly/3OJT5Ij
- Credit in construction sector at approx. $13B as of Q1 2022, over 29% rise y-o-y
As of the end first quarter of 2022, the loan provided by banking and financial institutions to the private sector was recorded at over US$50.7 billion. Among these, credit taken by the construction sector shares the highest amount, according to a recent report by the National Bank of Cambodia (NBC).
July 5, 2022 | Construction Property | Link: https://bit.ly/3nDtUeK
- KH’s consumer price index to increase 6.4% in 2022: AMRO
The ASEAN+3 Macroeconomic Research Office (AMRO) has forecast Cambodia’s consumer price index will rise above the regional average tipped to peak at 6.4% in 2022 then drop to 4.4% in 2023 as the protracted war in Ukraine and persistent inflation have ushered in a new set of challenges for policymakers.
July 6, 2022 | Cambodia Investment Review | Link: https://bit.ly/3IhwQaz
- Greenlit $15.6M K.Speu vehicle plant revving up industry hopes
GTV Motor Co Ltd’s planned $15.6 million vehicle assembly plant in eastern Kampong Speu province has brightened prospects for Cambodia’s nascent automotive industry and reaffirmed the enormous unexplored potential of this Southeast Asian market.
July 6, 2022 | Phnom Penh Post | Link: https://bit.ly/3yIvkLh
- AMRO lowers Asean+3 growth forecast for 2022 to 4.3%
The Asean+3 Macroeconomic Research Office (AMRO) yesterday marginally lowered its short-term growth forecast for the Asean+3 region, reflecting the impact of the recent re-emergence of Covid-19 in China and stronger headwinds arising from the war in Ukraine and tighter global financial conditions.
July 7, 2022 | Construction Property | Link: https://bit.ly/3amBdED
- Kampong Chhnang set for $20M wastewater treatment plant
Kampong Chhnang’s first state-of-the-art water treatment plant to be built at a cost of over $20 million in the province is scheduled to break ground on construction in September as the government demarcated a site that includes a large lake to build the facility.
July 7, 2022 | Phnom Penh Post | Link: https://bit.ly/3agTtiz
- Program to offer a ten-year visa to foreign investors launched in KH
Cambodia has launched a program to encourage foreign investment that offers a ten-year visa and other benefits to those who invest in the country. Named, the “Cambodia – My Second Home” program, it is exclusively launched by the Khmer Home Charity Association with full authorization from the Ministry of Interior.
July 8, 2022 | Construction Property | Link: https://bit.ly/3Pc7Kfq
- Apartment rents in capital tick up
Rents and demand for serviced apartments in Phnom Penh are back on the up, buoyed by the reopening of the country in early November and general improvement in the Covid-19 situation, according to a prominent real estate company.
July 8, 2022 | Phnom Penh Post | Link: https://bit.ly/3yNOJua