Property News Roundup 3rd February 2025

03 February 2025 | Posted in News

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

  1. Govt grants incentives to 42 projects worth $565M in S’ville

The Royal Government of Cambodia approved special incentives for 42 projects in Sihanoukville, totaling $565 million and expected to create nearly 7,500 jobs. These projects include customs warehouses, resorts, eco-agrotourism, industrial parks, hotels, and multi-functional buildings. The incentives, extended until the end of 2025, aim to boost local development, attract tourists, and address construction bottlenecks. Sihanoukville, home to Cambodia’s largest port, presents significant potential for transportation and investment opportunities.

January 27th 2024 | Khmer Times | Link: https://tinyurl.com/mry9u8pu

  1. Cambodia, US push for closer trade ties

Cambodia and the US have pledged to strengthen their economic and trade ties. In 2024, bilateral trade reached $10.18 billion, with Cambodia’s exports at $9.9 billion. The US is Cambodia’s largest export market, and the partnership has grown in various sectors. The US has contributed $3 billion to Cambodia’s development, and many US companies plan to expand their investments in the country.

January 27th 2024 | Khmer Times | Link: https://tinyurl.com/yckxn4s2

  1. Trump discussing TikTok purchase with multiple people, decision in 30 days

U.S. President Donald Trump announced he is in talks with multiple parties about buying TikTok and expects a decision within 30 days. The Trump administration is considering a plan involving Oracle and other investors to take control of TikTok’s operations, while ByteDance would retain a stake. Oracle would oversee data collection and software updates to address national security concerns. The deal’s terms are still fluid, and discussions are ongoing.

January 27th 2024 | Reuters | Link: https://tinyurl.com/4cy36vzf

  1. After PM’s call, banks rally around to support farmers

Following Prime Minister Hun Manet’s call for flexible loans to the agricultural sector, the Association of Banks in Cambodia (ABC) has pledged to support SMEs in rice milling and exporting. ABC Chairman Rath Sophoan announced plans to expand lending and develop supply chain finance mechanisms for MSMEs. The government has also increased its allocation to $150 million to stabilize rice prices. In 2024, Cambodia exported 651,522 tonnes of milled rice, generating $491 million, and 5.1 million tonnes of paddy rice, generating $1,496 million.

January 28th 2024 | Khmer Times | https://tinyurl.com/4rb7kvru

  1. Cambodia’s Real Estate Market Faces Mixed Signals Amid Regional Benchmarks

Cambodia’s commercial real estate market faces challenges with low office (65.1%) and retail (61.8%) occupancy rates, below international benchmarks. Despite this, premium rents remain high. The condominium sector is adding over 3,200 units, with prices competitive regionally. The serviced apartment segment shows promise with Grade A rents at $19.3 per square meter. Stakeholders may need to adjust strategies to improve occupancy rates and align with international standards.

January 28th 2024 | Construction & Property | Link: https://tinyurl.com/2p9z5nuu

  1. Xi Jinping puts focus on defusing economic risks in Lunar New Year message

Chinese President Xi Jinping, in his Lunar New Year message, called for efforts to counter economic risks and external shocks, emphasizing resilience and high-quality development. He highlighted the need for deepening reforms, expanding opening-up, and addressing key risks. Xi also reaffirmed his commitment to anti-corruption and announced plans for the next five-year plan (2026-2030). Despite economic challenges, he stressed the importance of responding to the needs of the Chinese people.

January 28th 2024 | South China Morning Post | Link: https://tinyurl.com/ykhufn9t

  1. Cambodia Achieves Major Milestones in Road Development by 2024!

Cambodia has made significant strides in infrastructure, with 854 national and provincial roads totaling 20,307.6 kilometers as of 2024. This includes 9 level 1 national roads (2,254 km) and 71 level 2 national roads (5,120.87 km). The provincial roads have increased to 774, covering 12,932.72 kilometers, with 41.63% paved. The expressway network includes the completed Phnom Penh-Sihanoukville Expressway (187.05 km) and the under-construction Phnom Penh-Bavet Expressway (135.10 km), both developed under the PPP framework. These developments are enhancing connectivity and promoting economic growth.

January 29th 2025 | Construction & Property | Link: https://tinyurl.com/ycxe4ykf

  1. Nearly Completion of Water Diversion System Project in Phnom Penh and Surrounding Provinces

Cambodia’s water diversion project is nearly complete, with significant progress in Phnom Penh and three neighboring provinces. Key systems like Stung Toch and Sak Sampov have 100% of earthworks and 97% of engineering works done. The project aims to manage 700 cubic meters of water per second, reducing flood risks and enhancing infrastructure. This initiative will improve flood management, transportation, tourism, and urban development.

January 29th 2025 | Construction & Property | Link: https://tinyurl.com/2p3wmb4x

  1. Cambodia, Laos outline strategies to boost bilateral trade

The second Cambodia-Laos Joint Trade Committee Meeting in Vientiane on January 28 resulted in four key agreements to boost bilateral trade and tourism; reviewing potential areas for expanding trade, exploring mechanisms to support trade growth, considering annual provincial-level meetings for trade and infrastructure development and planning investment and tourism exhibitions and forums. Both nations aim to enhance cooperation, with a focus on border trade and infrastructure. Despite strong diplomatic ties, trade and tourism between Cambodia and Laos remain relatively low compared to Thailand and Vietnam.

January 30th 2025 | The Phnom Penh Post | Link: https://tinyurl.com/2rwe837f

  1. Cambodia’s exports to EU rise by 20 percent in 2024

Cambodia’s exports to the EU reached $4.41 billion last year, a 20.34% increase from 2023. Imports from the EU fell by 3.3% to $917 million. Total trade between Cambodia and the EU rose by 15.47% to $5.32 billion. Spain and Germany were the largest EU trade partners, with bilateral trade volumes of $1,041 million and $911 million, respectively. Cambodia’s main exports to the EU include textiles, footwear, bicycles, foodstuffs, and milled rice. This growth highlights the competitiveness of Cambodian products in the European market.

January 30th 2025 | Khmer Times | Link: https://tinyurl.com/3pwxmbsd

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