Property News Roundup December 06th, 2023
We’re delighted to share the weekly news highlights below.
- MoU to end speculation in local real estate sector
Real estate appraisal services in Cambodia are expected to become better and more professional next year following the recent signing of a memorandum of understanding (MoU) by 32 licensed companies hoping to enhance law enforcement in the sector, according to the Cambodian Valuers and Estate Agents Association (CVEA).
24 November 2023 | The Phnom Penh Post | Link: https://tinyurl.com/ynj96y33
- Foreign tourist numbers skyrocket
Cambodia welcomed over 4 million foreign tourists in the first ten months of 2023, a sharp increase compared to the corresponding period last year. Visitors from three neighbouring ASEAN member states remained at the top of the arrivals list, according to the Ministry of Tourism.
30 November 2023 | The Phnom Penh Post | Link: https://tinyurl.com/3aedkra9
- Angkor Wat Secures its Prestige as Eighth Wonder of the World, Surpassing Italy’s Pompeii
In a momentous declaration, the esteemed status of the eighth wonder of the world was officially announced. Angkor Wat’s ascension to this prestigious rank signifies its triumph over Italy’s historic city, Pompeii. This declaration was made by Samdech Hun Manet, Prime Minister of Cambodia, on 24 November 2023.
25 November 2023 | The Phnom Penh Post | Link: https://tinyurl.com/3wcshp85
- WWF: Mekong Sand Running Out Due to Construction
A World Wildlife Foundation report has warned that sand in the Mekong Delta in Vietnam may run out by 2035 with catastrophic impacts on ecosystems due to a combination of huge demand in the country’s construction sector and the installation of hydroelectric dams.
29 November 2023 | Construction & Property | Link: https://tinyurl.com/ytc85wbz
- The Gov’t approved USD$ 65.5 Million Solar Power Plant in Svay Rieng
The Council for the Development of Cambodia (CDC) has officially endorsed the registration of “SCHNEITEC VIBRANT CO., LTD” for a pioneering project – the construction of a USD$ 65.5 million solar power plant in Svay Rieng province, according to the publication of the CDC on November 30, 2023.
30 November 2023 | Construction & Property | Link: https://tinyurl.com/2jauj9x8
- Construction Begins on US$400 Million Tatai Hydropower Dam Generating 150MW
The groundbreaking ceremony for the Tatai Hydropower Dam project, also known as the Ta Tay Leu Dam, worth nearly US$ 400 million took place in Thmar Bang district, Koh Kong province.
01 December 2023 | Construction & Property | Link: https://tinyurl.com/y2edauy7
- New Phnom Penh airport 55% completed
The construction of the new international airport in Phnom Penh is 55 percent completed as of November and it is on course to open for operations in 2025 with work progressing as per the schedule, according to the State Secretariat of Civil Aviation.
01 December 2023 | Khmer Times | Link: https://tinyurl.com/2nd6hsm8