Property News Roundup 23rd July 2024
We’re delighted to share the weekly news highlights below.
- Phnom Penh’s Flood Mitigation Efforts Progressing: 13 Projects Achieved 6.5% Completion
Of the 50 flood mitigation projects initiated by the government to alleviate flooding in Phnom Penh over five years, 13 projects are currently underway, achieving 6.5% completion. This was announced on Prime Minister Samdech Hun Manet’s official Facebook page.
July 13, 2024 | Construction Property | Link: https://tinyurl.com/4vff4up8
- Construction Project on NR No. 71c (Tbong Khmum – Kampong Cham) Completed 3 Months Ahead of Schedule
The construction of NR No. 71c, stretching 114.62 km from NR No. 7 point PK150 + 700 in Tbong Khmum province to NR No. 71 point PK30 + 400 in Kampong Cham province, has been completed 100% and is set to be officially inaugurated soon. This information was announced on the Ministry of Public Works and Transport.
July 14, 2024 | Construction Property | Link: https://tinyurl.com/pdwe8atu
- Master Plan to Transform Preah Sihanouk into Leading Logistics, Trade and Tourism Hub
A master plan to position Sihanoukville as a leading regional logistics hub, international trade and financial centre, world-class tourist destination and an intelligent green city has been developed from 2025 to 2038.
July 12, 2024 | KiriPost | Link: https://tinyurl.com/3ve6mcrp
- Cambodia-China trade sees robust growth in the first half of 2024
Cambodia and China have witnessed a substantial increase in bilateral trade during the first half of 2024, according to an official report released on Wednesday by the General Department of Customs and Excise.
July 15, 2024 | Khmer Times | Link: https://tinyurl.com/4pm7ac3b
- Billions spent on 3 major infrastructure projects in Cambodia
The Royal Government in recent years has spent billions of US dollars for the development of three major infrastructure projects with an estimated budget of US $ 5.3 billion.
July 15, 2024 | Khmer Times | Link: https://tinyurl.com/3rtpwu8j
- Cambodia Approves 1330 Construction Projects Worth US$1.81 Billion in Five Months of 2024
The Ministry of Land Management, Urban Planning and Construction (MLMUPC) approved 1,330 construction projects in the first five months of 2024, with a total investment capital of $1.811 billion. This marks a 9 % decrease from the 1,463 projects approved in the same period last year.
July 16, 2024 | Construction Property | Link: https://tinyurl.com/ynu3jbby
- Phnom Penh-Real Estate CBRE Mid-Year Review 2024: Economic Indicators and Market Trends
CBRE Cambodia has released its highly anticipated Phnom Penh Mid-Year Review for 2024, providing a comprehensive analysis of the city’s economic indicators and market trends. The report, unveiled on July 16th, 2024, highlights key metrics in various sectors, offering valuable insights for investors, developers, and policymakers.
July 17, 2024 | Cambodia Investment Review | Link: https://tinyurl.com/5n8v737y
- Techno International Airport Set to Open Mid-2025; $378M+ in Bonds Issued by CAIC
In last than a year’s time, Cambodia will have a new iconic infrastructure and landmark which all Cambodian will be proud of; the Techo International Airport (“TIA”).TIA is developed by Cambodia Airport Investment Co., Ltd. (“CAIC”), a joint venture between the Cambodian conglomerate Overseas Cambodia Investment Corporation and the Cambodian Government represented by the State Secretariat of Civil Aviation.
July 17, 2024 | Cambodia Investment Review | Link: https://tinyurl.com/2ktnxrp4
- $4.2 Billion PP-SR-Poipet Expressway Predicted to Boost Economy and Tourism
An economic expert has said that the Phnom Penh-Siem Reap-Poipet Expressway will drive more tourists from Phnom Penh to Siem Reap, while supporting the economy by providing a quick and convenient way to transport goods to and from the Thai border
July 19, 2024 | Kiri Post | Link: https://tinyurl.com/bdeuydp4
- PM calls for establishing direct international flights to Siem Reap
To attract more tourists to visit Cambodia, especially Siem Reap province – a historical tourist destination – Prime Minister Hun Manet requested to establish more connecting direct flights from major tourist destinations from other countries to Siem Reap.
July 19, 2024 | Khmer Times | Link: https://tinyurl.com/4ttyenv2