Property News Roundup 26th August 2024
We’re delighted to share the weekly news highlights below.
- Thailand Changes Strategy to Attract Chinese Investors, Extend 99-year Lease and 75% of Condo Ownership to Foreigners
Chinese investors are increasing their presence in Thailand’s property market, with over 100 billion baht invested in key economic cities. The trend is expected to accelerate further as the Thai government considers extending the leasehold period for foreigner from5 50 to 99 years and raising the foreign ownership limit in condominium from 49% to 75% of usable space, which potentially transforming the dynamic of the market.
18 August 2024 | Construction & Property | Link: https://tinyurl.com/2kc8papf
- Japanese companies pull out of China as Vietnam becomes next destination
Japanese companies are becoming increasingly cautious about operating in China, as supply chain risk, anti-espionage legislation, and rising geopolitical tensions create an uncertain environment. However, some Japanese companies continue to see opportunities in China’s vast market.
19 August 2024 | Construction & Property | Link: https://tinyurl.com/4abr4wxd
- Foreign Investors Turn Cautious as China’s Real Estate Market Faces Challenges
Amid growing uncertainty in China’s real estate market, foreign investors are becoming increasing selective, with many shying away from commercial properties. This downturn reflects broader concern about the market’s stability, particularly among US-based investors, who question whether they can exit the Chinese market profitability in the future.
19 August 2024 | Construction & Property | Link: https://tinyurl.com/5b8s7uxa
- Overview of Cambodia’s Economic Situation
Cambodia’s economy has been facing several challenges, including reduced growth rates, increased inflation and a decline in export demand. The ongoing global economic downturn has further exacerbated these challenges, leading to decline investment and weaker domestic demand. Despite these issues, the government has access to liquidity but faces difficulties in stimulating.
20 August 2024 | Kiri Post | Link: https://tinyurl.com/mr3n43xr
- Cambodia-Laos-Vietnam Development Triangle: Shared Aspirations and Interests for All
The Cambodia-Laos-Vietnam Development Triangle Area (CLV-DTA) continues to play an important role in narrowing the development gap among these less developed ASEAN members. The cross-border is to foster growth and opportunity through trade, investment, and tourism. By improving connectivity, the CLV-DTA has the potential to bring more economic opportunities to local populations, enabling them to participate in and benefit from national and regional economic.
24 August 2024 | Khmer Times | Link: https://tinyurl.com/4jr47hkx
- China’s stable economic growth significant to global economy
Giving the effective incentive policies by the Chinese government, China’s economic growth is projected to exceed market expectations his year and be a boon to the global economy. China is a major driver of global economic growth that has boosted international investors’ confidence and reduced international financial market volatility.
20 August 2024 | Khmer Times | Link: https://tinyurl.com/2schy6u6
- Cambodia’s Trade Volume Surges to Over USD 31 Billion in First Seven Months of 2024, Reflecting a 15% Growth
In the first seven months of 2024, Cambodia’s international trade volume soared past USD 31 billion, reflecting a robust 15% growth compared to the same period in 2023. This significant increase underscore the nation’s expanding trade activities.
20 August 2024 | Construction & Property | Link: https://tinyurl.com/yf8kuy5u
- Chak Angre Krom – Prek Pra Bridge starts to take shape
Chak Angre Krom – Prek Pra bridge will have a total length of 1,650 meters has reached 12.36% as of August 2024. Currently, 36 of the 156 pillars have been cast and 6 out of 20 pillars have been cast. Part of the lower part of the twin pillars have been completed.
21 August 2024 | Khmer Times | Link: https://tinyurl.com/ynz2hw2v
- Cambodia’s First Electric Truck Assembly Plant Breaks Ground in Pursat
Cambodia has embarked on a significant step towards green technology with the commencement of construction for ZO MOTORS (CAMBODIA) CO., LTD’s electric vehicle assembly plant in the Krakor Special Economic Zone, Pursat Province. Spanning 10 hectares, the plant aims to assemble electric vehicle for freight and household business, catering to both the domestic market and export within ASEAN.
21 August 2024 | Construction & Property | Link: https://tinyurl.com/3235n86p
- Iron ore prices fall amid falling real estate in China, threatening profits of mining giants
Iron ore process have plummeted to their lowest levels in two years, driven by a significant downturn in China’s property market that has sharply reduced demand for steel. This decline poses a serious challenge to the profitability of major global mining companies.
21 August 2024 | MENAFN | Link: https://tinyurl.com/yyvkczw4
- Chinese tourist arrivals in Cambodia up 45.6% in first 7 months of 2024
The number of Chinese tourists to Cambodia rose by 45.6% year-on-year in the first seven months of this year. A total of 463,980 Chinese visitors travelled to Cambodia during the January-July period, up 45.6% from 318,498 over the same period last year. The Chinese tourist arrivals accounted for 12.4% of a total of 3.74 million international arrivals to Cambodia during the cited period, the report said, adding that China was the third largest source of international visitors after Thailand and Vietnam.
23 August 2024 | Source: Khmer Times | Link: https://tinyurl.com/mv9jh956
- Takeo to establish SEZ in Bati district
Governor of Takeo province endorsed a proposal to establish a special economic zone (SEZ) on a 32-hectare area in Bati district by the Chinese Chamber of Commerce of Chaoshan. The project for the special economic zone in Takeo will help create more jobs for people in the province, reduce migration and improve the economy overall.
23 August 2024 | Source: Khmer Times | Link: https://tinyurl.com/3sdp7w42