Property News Roundup July 10th, 2023

10 July 2023 | Posted in News

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

  1. Aeon Mall Meanchey Selected as a Prime Station for Phnom Penh-Techo International Airport Rail Line

In an exciting development for Cambodia’s transportation infrastructure, the Ministry of Public Works and Transport (MPWT) has officially announced that the upcoming light rail or underground train project connecting Phnom Penh to Techo International Airport in Kandal province will include a strategically located station at Aeon Mall Meanchey.

July 01, 2023 | Construction Property | Link:

  1. Groundbreaking Innovation: Cambodia-Made Product to Revitalize Phnom Penh’s Major Roads

The Cambodian government has chosen to employ a revolutionary product developed locally, known as Cold Mix AC, for the repair and revitalization of three prominent roads. This momentous decision was announced by HE Dr. Om Yentieng.

July 01, 2023 | Construction Property | Link:

  1. Central bank’s regulations to boost financial resilience in Cambodia

The National Bank of Cambodia (NBC) has announced the enforcement of regulations on capital buffer and on credit risk for capital adequacy ratios (CAR) for banks and deposit-taking microfinance institutions (MFIs). These measures aim to bolster the management of diverse risks.

July 01, 2023 | The Phnom Penh Post | Link:

  1. India Expands Trilateral Highway Projects to Connect Cambodia, Boosting Regional Trade and Connectivity

India has unveiled plans to extend the 1,360-kilometer trilateral highway project to Cambodia. Currently under construction between India, Myanmar and Thailand, the highway section linking Thailand to Myanmar has been completed, awaiting its official public opening.

July 03, 2023 | Construction Property | Link:

  1. An Underground car park and a modern shopping mall project commence in the Heart of Phnom Penh

A new era of urban development is set to unfold on the centre of Phnom Penh as EDC Juta (Cambodia) embarks on its groundbreaking underground project in the heart of Phnom Penh.

July 03, 2023 | Construction Property | Link:

  1. CDC okays 27 private non-SEZ projects in Q1 valued at $193M

The Council for the Development of Cambodia (CDC) approved 27 private investment projects outside of the Kingdom’s special economic zones (SEZ) in the first quarter (Q1) of the year worth a total $192 million.

July 02, 2023 | The Phnom Penh Post | Link:

  1. Koh Pich-Koh Norea bridge construction to wrap up in November

The construction of a bridge connecting Koh Pich satellite city in Phnom Penh to the Koh Norea development area in the capital’s Khan Chbar Ampov has been achieved at 85% and is expected to complete in November this year.

July 05, 2023 | Khmer Times | Link:

  1. Cambodia’s Tourism Soars: H1-2023 Records 75% Surge with Over 11 Million Visitors

In an exceptional tourism surge, Cambodia witnessed a remarkable increase in visitor numbers during the first half of 2023. The Ministry of Tourism’s report, published on July 3, 2023, revealed a staggering 75% rise as Cambodia welcomed a total of 11.1 million domestic tourists, compared to the same period in 2022.

July 04, 2023 | Construction Property | Link:

  1. NBC formally rolls out CSS inter-bank payment system

The National Bank of Cambodia (NBC) on July 4 formally launched Cambodian Shared Switch (CSS), a chip-and-card inter-bank payment system, following a pilot run since October 2017.

July 04, 2023 | The Phnom Penh Post | Link:

  1. Jan-Jun Angkor ticket sales surpass $17.8M, but still 29% of 2018 levels

A total of 385,769 standard tickets for Siem Reap province’s Angkor Archaeological Park, the mainstay of the Kingdom’s tourism industry, were sold to foreign visitors in the first six months of 2023, amounting to $17,877,418, available in one-day, three-day and seven-day passes, Angkor Enterprise reported on July 5.

July 05, 2023 | The Phnom Penh Post | Link:

  1. Study underway for Phnom Penh-S’ville high-speed rail

A feasibility study is underway on a proposed project to convert the Southern Railway Line that links Phnom Penh with Preah Sihanouk province into high-speed rail to better handle the growing demand for passenger and freight transit, according to Minister of Public Works and Transport Sun Chanthol.

July 04, 2023 | The Phnom Penh Post | Link:

  1. Korea Extends Generous Funding of Nearly US$2 Million for New Referral Building in Pursat Province

In a significant development, the construction of a new non-communicable disease building at Pursat Provincial Referral Hospital, valued at nearly US$2 million, has commenced.

July 05, 2023 | Construction Property | Link:

  1. NR No.10 Upgrade in Pursat Province Reaches Final States, Enhancing Connectivity

The construction of NR No.10 in Pursat province has reached its final stages, as reported by the Pursat Provincial Administration on June 28, 2023. The completion of a section from Veal Veng town, Bramoy commune to O’Som commune brings significant improvements to travel accessibility in the region.

July 05, 2023 | Construction Property | Link:

  1. CBRE Cambodia to Showcase Unique Property Investments at Peninsular Sales Gallery

Leading real estate firm, CBRE Cambodia, is set to host a prestigious property sales event on Saturday, July 8th, at the Peninsular Sales Gallery. The exclusive event, scheduled from 10 am to 4 pm, will showcase two exceptional real estate projects: the Angkor Grace Resort and the Peninsular Private Residences.

July 01, 2023 | Cambodia Investment Review | Link:

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