Property News Roundup October 02nd, 2023

02 October 2023 | Posted in News

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

  1. Non-Garment Manufacturing Sector Skyrockets by 172% in First Half of 2023, Amid Surging Foreign Investment

Despite the prevailing global financial uncertainty, Cambodia is experiencing a remarkable influx of foreign direct investment (FDI) in the first semester of 2023, with an astounding growth rate of approximately 41.6%.

September 22, 2023 | Construction Property | Link: https://tinyurl.com/3smtvpcj

  1. CDC Greenlights Seven New Industrial Giants with $24.3M Investment, Propelling Job Creation in Svay Rieng and Sihanoukville

The Council for the Development of Cambodia (CDC) has granted approval to seven visionary companies to embark on transformative ventures, collectively investing an impressive $24.3 million.

September 22, 2023 | Construction Property | Link: https://tinyurl.com/zmr5ehwb

  1. Experts Share Cambodia’s Real Estate Market Recovery Path

Amidst a challenging global economic landscape, the Cambodian real estate market has weathered a prolonged downturn since 2019, leaving industry stakeholders pondering when and how recovery will take place.

September 23, 2023 | Construction Property | Link: https://tinyurl.com/3bpan7u7

  1. PM pitches Cambodia before US investors

The Cambodian government has made a strong pitch to attract US investors, promising support for starting as well as expanding businesses and becoming key partners of the government in its development efforts.

September 25, 2023 | Khmer Times | Link: https://tinyurl.com/mvn5jv9z

  1. Cambodia Construction Update: 2,000 Permits Issued in 7 Months, Valued at Nearly $3 Billion

Cambodia’s construction sector is experiencing a remarkable surge as the Ministry of Land Management, Urban Planning, and Construction announces the issuance of 2,036 construction permits within the first seven months of 2023.

September 25, 2023 | Construction Property | Link: https://tinyurl.com/kvsvt63f

  1. Cambodia prepares land for SEZ to welcome more Japanese investors soon

The Ministry of Land Management, Urban Planning, and Construction is preparing to consider suitable land for the establishment of more existing special economic zones for Japanese investors.

September 25, 2023 | Construction Property | Link: https://tinyurl.com/yey9s4un

  1. $1B needed to finish unfinished projects in Sihanoukville

At least $1 billion is required to invest in completing the unfinished buildings in the coastal city Sihanoukville, said a senior official at the Preah Sihanouk Provincial Administration.

September 26, 2023 | Khmer Times | Link: https://tinyurl.com/4ytuactz

  1. Skytrain Coming: PM pushes for skytrain in Phnom Penh to meet the growing population

Prime Minister Hun Manet said that the government has conducted studies on skytrain and subway train projects to be operated in Phnom Penh in addition to increasing road connectivity countrywide to meet the growing population in Cambodia.

September 26, 2023 | Khmer Times | Link: https://tinyurl.com/33zzb769

  1. ADB Revises Cambodia’s 2023 Economic Growth Forecast to 5.3% from 5.5%

The Asian Development Bank (ADB) has adjusted its economic growth forecast for Cambodia, revising it from an initial estimate of 5.5% to 5.3% for the year 2023.

September 26, 2023 | Construction Property | Link: https://tinyurl.com/ye24ck4h

  1. India Boosts Ecotourism Development in Kampong Thom and Prey Veng Provinces

India has pledged its strong backing for ecotourism community development projects in two Cambodian provinces, Kampong Thom and Prey Veng.

September 26, 2023 | Construction Property | Link: https://tinyurl.com/yv4tnuke

  1. Majestic 45-Meter-High Buddha Statue Set to Grace Kep Province’s Skyline

A towering 45-meter-high Buddha statue is poised to adorn the picturesque landscape of Kep province, marking a sacred site for Buddhists and an enchanting tourist attraction.

September 26, 2023 | Construction Property | Link: https://tinyurl.com/4hybtxyb

  1. Cambodia is among 10 countries where $1.95 billion of the total foreign investment by major Chinese power companies went

The 24th Conference on the Electric Power Supply Industry (CEPSI) will take place in Xiamen, Fujian province, from October 19 to 23, said China Electricity Council on Tuesday, co-organizer of the conference together with the Association of the Electricity Supply Industry of East Asia.

September 28, 2023 | Khmer Times | Link: https://tinyurl.com/523epy6r

  1. Japan Commits $430 Million to Transform Sihanoukville Port into ASEAN’s Largest by 2028

Japanese government has pledged a substantial investment of $430 million for the expansion and enhancement of Sihanoukville port. This transformative endeavor, set to be realized by 2028, aspires to position Sihanoukville as “the largest port in ASEAN.”

September 28, 2023 | Construction Property | Link: https://tinyurl.com/4pn8b2pz

  1. New Port at Koh Kong Province Inaugurated and Tested

Koh Kong Port Management Co., Ltd has been piloted in Koh Sdach Village, Koh Sdach Commune, Kirisakor District, Koh Kong Province to facilitate the safe and efficient transportation of tourists and tourists in the coastal area.

September 28, 2023 | Construction Property | Link: https://tinyurl.com/34tkdtm8

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