Property News Roundup October 31st, 2022
We’re delighted to share the weekly news highlights below.
- Two Ring Road Constructions Worth US$140m Planned for Siem Reap
Two ring roads are planned to build in Siem Reap city with 55km-Northern Ring Road and 46km-Southern Ring Road under US$45.7 million loan from Asian Development Bank and US$94.1 million concessional loan from South Korean government, respectively.
October 24, 2022 | Construction Property | Link: https://bit.ly/3TvSc8U
- Chinese Company wants to set up an electric car assembly plant in Koh Kong
China Matrix Technology Group-Horche Intelligent Automobile aims to invest in industrial technology by setting up a factory and assembling electric vehicles in Koh Kong province.
October 25, 2022 | Construction Property | Link: https://bit.ly/3DszOb8
- Expressway company decides to reduce truck fee
Currently, the round-trip price for a container truck is $120. The Phnom Penh-Sihanoukville Expressway Investment Company has decided to reduce the cost of using the road for container trucks after the private sector raised concerns over the bit-costly price of using the road.
October 26, 2022 | Construction Property | Link: https://bit.ly/3sAve4y
- Real-estate ETFs on CSX by 2023, says regulator chief
Securities and Exchange Regulator of Cambodia (SERC) plans to authorise the creation of real-estate exchange-traded funds (ETF) by 2023 and allow them to be traded on the Cambodia Securities Exchange (CSX), raising additional capital for the real estate sector to catalyse economic development.
October 27, 2022 | Phnom Penh Post | Link: https://bit.ly/3f8wkRQ
- New deal paves way for clean energy exports to Singapore
Cambodia and Singapore are slated to set up a joint technical working group “soon” to look into the work and procedures involved in a proposed transmission line that will carry clean energy by underwater cable from the Kingdom to the city-state.
October 27, 2022 | Phnom Penh Post | Link: https://bit.ly/3sySakB
- The project to improve the quality of NR33 to be built very soon
National Road No. 33 from Kampot to Chrak Lok (Cambodia-Vietnam border) will be opened for construction soon, while the Ministry of Public Works and Transport is currently studying the design of the project and some points that may be a challenge in The implementation of this road project has already been completed.
October 27, 2022 | Construction Property | Link: https://bit.ly/3gL0Ku6
- Tax Exemption for tourism, and hospitality Extended to December 2022
The state has continued to exempt all types of monthly taxes, except value-added tax, for hotels, guesthouses, and travel agencies registered with the General Department of Taxation and doing business in Phnom Penh, Siem Reap, and Sihanoukville for three periods. Additional months are from October to December 2022.
October 27, 2022 | Construction Property | Link: https://bit.ly/3FkBBjW
- Sea tourism sports recreation site to be established in Sihanoukville
A company branded Le Soleil Meilan International Travel Co., Ltd. is interested in establishing sea tourism sports recreation site in Sihanoukville, approximately 1.5 hectares. It will house some water sports including water temple, water volleyball, swirled airbag, airbag boat, floating airbag, swing and sailboat.
October 28, 2022 | Khmer Times | Link: https://bit.ly/3U0qMHW
- Concessional loan for National Road 7 expansion project to be signed next month
The project to improve and expand the quality of National Road 7 from Skun to Kampong Cham city will be signed next month with a loan from China.
October 28, 2022 | Khmer Times | Link: https://bit.ly/3NcbBt0
- Second Expressway Concession Loan in Cambodia to be Signed in November
The Phnom Penh-Bavet Expressway concession loan is likely to be signed in November as the Ministry of Public Works and Transport and a Chinese construction company is accelerating the concession agreement while the framework agreement was already confirmed.
October 28, 2022 | Construction Property | Link: https://bit.ly/3U5k3MQ
- Construction of the third ring road was almost 80 percent completed by October
The construction of the US$267-million third ring road was about 77 percent completed by October, while the construction of the bridge across the Bassac River was 88 percent
October 28, 2022 | Construction Property | Link: https://bit.ly/3gEnmMy
- Gov’t to expand the national road section from the new airport to Siem Reap to four lanes
The road from the new airport to Siem Reap will be expanded from two to four, and in some sections to six lanes with 16 kilometers long, which is under negotiation for construction.
October 28, 2022 | Construction Property | Link: https://bit.ly/3TKMShM