Property News Roundup 16th January 2024

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

1. Indonesia-Cambodia trade sees milestone as business between two countries reach almost US$1bil

The milestone of trade relations between Indonesia and Cambodia, which reached $965.24 million in 2023, making Indonesia the 6th-largest trading partner of Cambodia. The article highlights the diversification of trade commodities, such as the first shipment of Cambodian rice to Indonesia, and the cooperation in various sectors, such as education, culture, and tourism. The article also mentions the celebration of the 65th anniversary of diplomatic ties between the two countries and their support for each other in regional and multilateral forums.

January 7^th, 2024, | Thestar | Link: t.ly/zo9-n

2. CDC Invites Chinese Companies to Invest in Designated 1k Hectare of Land Near New Siem Reap Airport

Cambodia seeks Chinese investment in a 1,000-hectare special economic zone near the new Siem Reap airport, aiming to boost logistics, manufacturing, and economic ties, particularly with China. The project promises jobs, growth, and preferential tax benefits, but raises concerns about environmental impact and potential displacement.

January 2^nd, 2024, | Construction & Property | Link: t.ly/S9zI-

3. Cambodia attracts FDI worth $4.92 bn in 2023, up 22% YoY

Cambodia’s foreign direct investment (FDI) surged an impressive 22% year-on-year to reach $4.92 billion in 2023, showcasing the country’s burgeoning appeal to international investors. This significant jump highlights Cambodia’s growing potential as a destination for investment, particularly in industries like infrastructure, agriculture, and tourism.

January 5^th, 2024, | fibre2fashion | Link: t.ly/iin-A

4. Cambodia’s per capita income tipped to pass USD2,000 in 2024

Cambodia’s economic outlook is rosy, with its per capita income projected to exceed US$2,000 for the first time in 2024. This 8% surge signifies a major milestone in the country’s development, fueled by robust growth in sectors like garment exports, tourism, and construction. The government’s commitment to improving living standards and attracting foreign investment bodes well for Cambodia’s continued economic ascent.

January 9^th, 2024, | Boneo Bulletin | Link: t.ly/6FMQR

5. Siem Reap in Cambodia and Samui in Thailand are also set to host Banyan Tree resorts before 2024 is out

2024 promises a dazzling array of hotel openings worldwide, from Banyan Tree’s Dubai debut to Six Senses’ carbon-neutral Arctic escape in Norway. Closer to home, Melbourne’s Standard Hotel and the reborn Hotel Sorrento in Australia bring fresh vibes, while Grenada welcomes Six Senses’ Caribbean premiere and London snags its own outpost in a former art deco department store. Buckle up, travel enthusiasts, it’s gonna be a globetrotting year!

January 8^th, 2024, | TTGMedia | Link: t.ly/BLmW_

6. Foster + Partners begins construction on Cambodia airport under canopy roof

Foster + Partners’ vision for Techo International Airport in Phnom Penh, Cambodia, takes root as construction kicks off. Inspired by Cambodian vernacular and the tropical climate, the design features a sprawling terminal cloaked in a “tree-canopy” roof. This grid-shell structure, supported by innovative “structural trees,” spans the central head house and two aerofoil-shaped piers, providing natural light and shelter from the elements. The airport aims for sustainability and passenger comfort, aiming to be one of the greenest in the world while offering clear navigation and breathtaking views. This impressive project promises to be a modern gateway to Cambodia, embodying its cultural heritage and embracing green solutions.

January 9^th, 2024, | Archinect | Link: t.ly/bj2Zy

7. Investment in processing for local products urged by Cambodian agriculture minister

Cambodian Agriculture Minister Veng Sakhon is calling for greater investment in processing Cambodian agricultural products, aiming to boost revenue and economic growth. Highlighting the potential of rice, cashews, rubber, and aquaculture, he sees value-added processing as key to maximizing farmer profits and attracting investors. The government supports this vision with tax breaks and financial aid, hoping to move beyond raw material exports and capture more value in the global market.

January 7^th, 2024, | Thestar | Link: t.ly/yGgVn

8. The Bay of Lights: Home to Cambodia’s Premiere USGA-Certified Waterfront Golf Course by Greg Norman

Cambodia’s golfing landscape prepares for a stunning transformation with The Bay of Lights, a $41 million masterpiece designed by legendary golfer Greg Norman. This USGA-certified waterfront paradise promises championship-caliber play amidst breathtaking coastal beauty near Sihanoukville. Picture rolling hills, natural wetlands, and shimmering ocean vistas – all seamlessly woven into an 18-hole course. But The Bay of Lights is more than just a golfer’s dream. Envision luxurious resorts, scenic walkways, and a driving range opening as early as Q3 2025, making it a holistic coastal retreat for everyone. By 2027, the full course will be ready to welcome golf enthusiasts from around the world, marking a new era for Cambodian tourism and leisure. Get ready to tee off in paradise!

January 9^th, 2024, | Zawya | Link:  t.ly/oV3-p

9. Cambodia-China trade continues to grow despite global demand slowdown

efying the global slowdown, Cambodia-China trade is booming! 🇨🇳 Despite a dip in global demand, trade between Cambodia and China has continued to surge, reaching over $10 billion in the first 10 months of 2023 alone. This impressive growth is powered by the Regional Comprehensive Economic Partnership (RCEP) and the Cambodia-China Free Trade Agreement (CCFTA), both of which took effect in 2022.

January 10^th, 2024, | Xinhua | Link: t.ly/loz9y

10. Koh Ker is 34th best attraction on global travel list: New York Times

This ancient wonder, nestled amidst the Cambodian jungle, is finally getting the recognition it deserves. Koh Ker served as the Khmer Empire’s capital for a brief period in the 10th century and boasts a mesmerizing collection of temples and ruins, each whispering tales of a glorious past. The New York Times’ recognition puts Koh Ker on the global tourism map, but its charm lies in its peaceful atmosphere and historical significance. If you’re seeking an off-the-beaten-path adventure and a glimpse into Cambodia’s ancient past, Koh Ker is the perfect destination for you.

January 10^th, 2024, | Thestar | Link: t.ly/5fAlc