Property News Roundup May 02nd, 2022
We’re delighted to share the weekly news highlights below.
- FTB Breaks Ground on its US$112 million New Headquarters “FTB Tower”
The groundbreaking ceremony was held on 22 April and presided over by HE Chea Sophara, Deputy Prime Minister and Minister of Land Management, Urban Planning and Construction. The Tower consist of 77,593 square meters with 28 floors.
April 22, 2022 | Construction Property | Link: https://bit.ly/3OLhkqe
- Feasibility study on upgrading railways to high-speed to finish 3 months
The feasibility study of upgrading two existing railways Phnom Penh-Poi Pet and Phnom Penh-Sihanoukville to high speed ones is set to be completed in the next 3 months, according to the Ministry of Public Work and Transport (MPWT).
April 22, 2022 | Construction Property | Link: https://bit.ly/3rO0tsO
- New US$8.6 million investment project approved for Pou Senchey District
The Council for the Development of Cambodia (CDC) has given a permit to QMDJ (Cambodia) Co., Ltd to invest US$8.6 million in building a garment factory in Phnom Penh’s Pou Senchey District.
April 22, 2022 | Construction Property | Link: https://bit.ly/3KehrXF
- NR2 & 22 construction poor quality; MPTW orders urgent fix & set deadline for August
The Ministry of Public Works and Transport (MPTW) has found that some parts of NR2 and NR22 construction are poor in quality and lack technical standards while instructing the restricting construction companies to fix them immediately and finish the whole project by August 2022.
April 25, 2022 | Construction Property | Link: https://bit.ly/38sTUFr
- Pilot flight launches at Koh Kong’s new airport
Dara Sakor International Airport in Koh Kong province is operating a pilot flight to ensure full equipment functionality and staff capability before it applies for government licensing to officially operate.
April 24, 2022 | The Phnom Penh Post | Link: https://bit.ly/3LnQ92l
- Cambodia races towards a post COVID normality as cases remain low
Case number appears to be dropping to lower level as Cambodia moves towards the lifting of yet more COVID restriction, as it appears that the expected rise in numbers due to the suspension of COVID safety rules during mass gathering of Khmer New Year has not occurred.
April 25, 2022 | Khmer Times | Link: https://bit.ly/39oiU0Z
- Japan Seeking Investment Opportunities in Clean Energy in Cambodia
Japanese investors are interested in the development of clean energy and energy technology with high efficiency and carbon neutrality in Cambodia.
April 26, 2022 | Construction Property | Link: https://bit.ly/3KnXeyU
- Construction of Expressway 90% complete, Set to Open in July
Construction of the Phnom Penh-Sihanoukville Expressway is 90% complete as of April. The Ministry of Public Works and Transport (MPTW) has confirmed that the expressway will be put into temporary use in July this year.
April 26, 2022 | Construction Property | Link: https://bit.ly/3OGFn9D
- PM Hun Sen Urges China to Invest More in Cambodia, Emphasising Five Key Reasons
Prime Minister Hun Sen has urged Chinese firms to invest more in Cambodia especially in the prioritized sectors, emphasizing five main reasons why Cambodia is a strong potential investment destination.
April 26, 2022 | Construction Property | Link: https://bit.ly/3EXNOJb
- GDT to Send Property Tax Bills to Taxpayers’ Homes Annually to Encourage on-Time Payment
The General Department of Taxation (GDT) is planning to issue annual property tax invoices, just like water and electricity bills, and send them taxpayer’s homes, to increase the efficiency of property tax collection.
April 27, 2022 | Construction Property | Link: https://bit.ly/3rUYbbC
- Wear face mask in closed space, says Tourism Ministry
The Ministry of Tourism dropped the requirement for face masks at tourist facilities but urged people to keep them on at crowded and closed space.
April 28, 2022 | Khmer Times | Link: https://bit.ly/3Ko2mDa
- US$1.3 billion Kampot multi-purpose port to begin construction in early May
A new US$1.3 billion multipurpose port & logistic center in Kampot provinces is set to begin construction in early May, according to Minister of Public Works and Transport HE Sun Chanthol.
April 28, 2022 | Construction Property | Link: https://bit.ly/3w9H9I7
- Cambodia’s four coastal provinces receive US$100m for sustainable marine development projects
US$100 million fund from Asia Development Bank (ADB) and French Development Agency (FDA) has been approved for implementing sustainable marine development projects in four of Cambodia’s coastal provinces including Koh Kong, Sihanoukville, Kampot and Kep.
April 28, 2022 | Construction Property | Link: https://bit.ly/3rUmAOb
- Stamp Duty Tax Exemption for Property Worth Under US$70,000 Extended to End of 2022
The stamp duty tax exemption for houses and condos worth equal to or under US$70,000 will be continued to the end of 2022, as part of the government’s measures to boost economic recovery from the COVID-19 pandemic.
April 28, 2022 | Construction Property | Link: https://bit.ly/3y0e6Jp