Property News Roundup November 29th, 2023

29 November 2023 | Posted in News

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

  1. Boosting Trade: Gov’t Announces Customs Duties Exemption for Goods Under US$1,000

Prime Minister Hun Manet declared the waiver of customs duties on both imports and exports valued at less than US$1,000. This pivotal announcement was unveiled during the 19th “Government-Private Sector” forum.

November 17, 2023 | Construction Property | Link:

  1. Gov’t Allocates US$60 Million for New Siem Reap Airport Access Road Expansion

In a strategic move to enhance connectivity and accommodate the growing demands of Siem Reap’s evolving infrastructure, Prime Minister Samdech Hun Manet announced a substantial investment of US$60 million in a road improvement project.

November 18, 2023 | Construction Property | Link:

  1. Siem Reap’s Soaring Aspirations: Cambodian PM Urges Chinese Investment for Multi-Purpose Development

In a visionary move to elevate Siem Reap province into a thriving multi-purpose development hub, Prime Minister Samdech Hun Manet extended a warm invitation to Chinese companies, encouraging them to expand their investments beyond the construction of the Siem Reap Angkor International Airport.

November 18, 2023 | Construction Property | Link:

  1. PM promises more infra for Capital development

The Royal Government of Cambodia is planning to build more roads and bridges to support the economic growth of the country, facilitating the travel of people and transport of goods.

November 17, 2023 | Khmer Times | Link:

  1. PM Directs Ministry of Land Management to Prepare Comprehensive Master Plan for Cambodia’s New City

Prime Minister Samdech Hun Manet has called upon the Ministry of Land Management, Urban Planning, and Construction (MLMUPC) to meticulously prepare a Master Plan for an upcoming new city. The prime focus of this strategic initiative is twofold: ensuring clarity in public infrastructure development and implementing a well-defined zoning framework.

November 20, 2023 | Construction Property | Link:

  1. Japan’s Extends Over US$250K Grant Fuels Vital Projects in Prey Veng & Siem Reap

In a demonstration of unwavering friendship and commitment to fostering better living conditions, the Government of Japan has granted a sum of US$252,136 for two pivotal projects in Cambodia.

November 20, 2023 | Construction Property | Link:

  1. PM asks PAS to speed up expansion work

Sihanoukville Autonomous Port (PAS) has been directed by Prime Minister Hun Manet to speed up the expansion project, planned to convert it into a major shipping hub of the region, revealed its Deputy Director General of Administration, Thong Viro, recently.

November 20, 2023 | Khmer Times | Link:

  1. Cambodia to construct two more airports

Cambodia will add two more airports to the construction agenda in a bid to improve connectivity between the country and other tourism hubs in the world, said Mao Havannall, Minister in charge of the State Secretariat of Civil Aviation.

November 20, 2023 | Khmer Times | Link:

  1. Khmer electrical power Embarks on US$447.5 Million Hydropower Venture in Koh Kong

The Council for the Development of Cambodia (CDC) has given the green light to a colossal initiative. The ambitious project entails the construction of two substantial hydropower plants, with an investment surpassing US$447.5 million, poised to reshape Koh Kong province’s energy landscape.

November 21, 2023 | Construction Property | Link:

  1. Road to Progress: Cambodia’s NR 5, Prek Kdam to Battambang, Officially Unveiled

NR No. 5, stretching from Prek Kdam to Battambang province, was ceremoniously inaugurated after an extensive 7-year construction period. The auspicious event was presided over by Samdech Hun Manet, Prime Minister of the Kingdom of Cambodia, on the morning of 22 November 2023.

November 22, 2023 | Construction Property | Link:

  1. Six Factories Set to Transform Cambodian Industries in Four Provinces with US$32M Investment

The Council for the Development of Cambodia (CDC) has greenlit the registration of six companies. These enterprises are poised to construct state-of-the-art factories, injecting a collective investment of US$32.26 million into the thriving provinces of Kandal, Kampong Chhnang, Kampong Speu, and the bustling capital, Phnom Penh.

November 22, 2023 | Construction Property | Link:

  1. Riverbank worries vanish: Koh Norea’s development success

The government’s decision to designate Chbar Ampov district’s Koh Norea peninsular for development is paying dividends for local residents, who no longer worry about long commutes, or riverbanks collapsing into the river and flooding during the rainy season.

November 22, 2023 | The Phnom Penh Post | Link:

  1. Koh Norea Aspires to New Heights with a Towering 555-Metre Landmark

In an audacious venture set to redefine Cambodia’s skyline, the Overseas Cambodia Investment Corporation (OCIC) unveils plans for a colossal building soaring over 500 metres in the Koh Norea development area.

November 23, 2023 | Construction Property | Link:

  1. Gov’t Unveils Non-Tax Incentives to Revitalise Stagnant Buildings in Sihanoukville

In response to the challenge posed by nearly 400 incomplete buildings in Sihanoukville, hindering the city’s progress, the Cambodian government has introduced groundbreaking initiatives aimed at revitalising these stagnant projects.

November 23, 2023 | Construction Property | Link:


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