Property News Roundup June 13th, 2022

13 June 2022 | Posted in News

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

  1. Special Working Group is established to Study National Building Technical Regulations

The Royal Government of Cambodia has created the National Council for Building Technical Regulations to study and develop effective and sustainable regulations in accordance with article 11 of the Law on Construction in Sub-decree 103 dated 31 May 2022.

June 07, 2022 | Construction Property | Link:

  1. Residential property price index to track sector

The National Bank of Cambodia (NBC) and the National Institute of Statistics (NIS) launched the Residential Property Price Index (RPPI) which compiles economic and financial statistics to analyse and evaluate economic processes, following the pre-Covid-19 boom in the real estate and construction sectors.

June 07, 2022 | Phnom Penh Post | Link:

  1. Cambodia-Australia officially announces New Regulations on Health and Safety for construction sites

New regulations on health and safety at construction sites have been officially announced as the growth of the construction sector in Cambodia requires preparing and implementing an official standard related to the quality of construction, the design of construction structures, and health and safety at construction sites.

June 08, 2022 | Construction Property | Link:

  1. MEF & WB take on high logistic cost in KH

The Ministry of Economy and Finance and World Bank (WB) are looking at in-depth strategies to reduce logistics costs in Cambodia via systematic and structural reform measures as per the “The Strategic Framework and Programmes for Economic Recovery in the Context of Living with Covid-19 in a New Normal 2021-2023”, a comprehensive roadmap to safely guide the economy as the novel coronavirus becomes endemic.

June 09, 2022 | Phnom Penh Post | Link:

  1. Ministry Studies Expansion of National Road 4 to Ease Congestion

The rehabilitation and expansion of National Road 4 funded by a loan from the World Bank as it is one of the major roads connecting Phnom Penh to vital economic and tourist spots such as Sihanoukville and Koh Kong and is expected to ease traffic congestion, lessen travel time, and overall reduce costs of transportation in this economic corridor.

June 09, 2022 | Khmer Times | Link:

  1. Expressway postponed to September as construction completes 93%

Cambodia’s first expressway project between Phnom Penh and Sihanoukville has been postponed from July to September, with 93 % of construction completed by the first week of June while the official launch will be by the end of this year or early next year. Currently, it is preparing to install traffic lights and toll plazas.

June 09, 2022 | Construction Property | Link:

  1. PP: 310 Borey and 1,603 high-rise buildings by the beginning of 2022

As of the beginning of 2022, there are 310 projects of Boreys and apartments and 1603 high-rise buildings in Phnom Penh, of which 225 buildings with 20 floors up. Phnom Penh still receive 1,050 new construction projects on a total construction area of ​​more than 4.63 million square meters with an investment capital of more than US$2.26 billion

June 09, 2022 | Construction Property | Link:

  1. Health ministry draft minimum standards for all private health facilities

Issuance of licences to private services in the future would require that they meet the minimum standards, which could start as early as next year. Licenses for private health services issued by the health ministry are valid for four to five years. Therefore, private services that are licenced based on these minimum standards must implement them and put them into practice and the ministry would continue to monitor their compliance.

June 10, 2022 | Phnom Penh Post | Link:

  1. Deal to bring top European tech firms to Cambodia

European Chamber of Commerce in Cambodia (EuroCham) and Cambodia Academy of Digital Technology (CADT) signed a memorandum of understanding (MoU) yesterday to attract more potential technology and digital companies to Cambodia by developing local digital talent.

June 10, 2022 | Khmer Times | Link:

  1. Three-phase port terminal construction project to boost Cambodia’s maritime transport sector

The three-phase construction of new port terminal at the Sihanoukville Autonomous Port will boost Cambodia’s maritime transport sector, with the first phase set to begin by the end of 2022.

June 10, 2022 | Khmer Times | Link:

  1. World Bank forecast Cambodia’s economic growth remains at 4.5 per cent this year

The World Bank forecasts economic growth in Cambodia at 4.5 percent this year, unchanged from the prediction made in January this year, citing that the growth is forecast to accelerate to 5.8 percent in 2023.

June 10, 2022 | Construction Property | Link:

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