Sharp decrease in approved construction projects

Source : Khmer Times 

Despite the drop in the number of approved projects, Phnom Penh’s skyline continues to expand quickly. KT/Chor Sokunthea

The Ministry of Land Management this week reported a 19 percent drop in the number of approved construction projects for 2018, with only 2,867 projects being greenlighted, compared to 3,052 last year.

Total investment in construction projects this year totalled $5.2 billion, down from 2019’s $6.4 billion. Continue reading

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Construction sector sees 20% fall

Source : Phnom Penh Post 

One Park Condominium, a project developed by Graticity Real Estate Development Co Ltd, is under construction in the capital’s Boeung Kak area in May. Hong Menea

The Kingdom’s construction sector has seen a 20 per cent fall in capital investment this year compared to last year, while the government collected nearly $100 million in national revenue from real estate services, according to the Ministry of Land Management, Urban Planning and Construction’s 2018 annual report released on Monday. Continue reading

Capital’s apartments set to triple by 2030

Source : Phnom Penh Post 

Tronum Sothearos stands out with its abundance of greenery in Chamkarmon district’s Tonle Bassac commune. The number of apartments in Phnom Penh is set to almost triple by 2030. Photo supplied

Phnom Penh’s Chamkarmon and Tuol Kork districts will continue to see investment in apartments, while Sen Sok will become a new target market, as the number of apartments in Phnom Penh is set to almost triple by 2030.

According to a report issued on Tuesday by property firm VTrust Appraisal, Chamkarmon district ranks first in terms of apartment numbers, with 5,820 units spread across 230 projects, equivalent to 64 per cent of the total supply. Continue reading

Russey Keo, a project away from a boom

Source : Khmer Times 

High-rise residences and mixed-use complexes will soon make their debut in Russey Keo district. Realestate.com.kh

Earlier this year, the World Bank reiterated that Cambodia’s GDP growth will stay above 6 percent through 2020. All this growth means that Phnom Penh is becoming more bustling, busy and more international with each passing day. Because of this, land and property prices are also on the rise. The outer districts of the capital, particularly Russey Keo in the north, are becoming some of the most popular areas to live and start a business. Continue reading

Police, NGOs review policy aimed for child protection

Source : Phnom Penh Post 

Cambodian children wade in polluted water at a village in Phnom Penh on October 18, 2017. TANG CHHIN SOTHY/afp

Contents of the Child Friendly Police Procedure Manual are being reviewed to ensure it helps to protect the rights of minors, said Child Rights Coalition Cambodia (CRC-Cambodia) executive director Son Penh.

He said the review is being carried out by the Police Academy of Cambodia, in cooperation with CRC-Cambodia and support from Plan International Cambodia. The three had originally cooperated to create the Child Friendly Police Procedure Manual in July last year. Continue reading

EU Ambassador ‘Concerned’ Over Rights Situation in Cambodia

Source : VOA

European Union’s ambassador to Cambodia George Edgar speaks to the press at the 70th Anniversary of the Universal Declaration of Human Rights at the Institute of Technology Cambodia, Phnom Penh, Cambodia, Monday, December 10, 2018. (Nem Sopheakpanha/VOA Khmer

The European Union’s ambassador to Cambodia, George Edgar, has expressed concern over the deterioration of human rights in Cambodia.

On the 70th anniversary of the passing of the Universal Declaration of Human Rights on Monday, Edgar said it was “no secret” that the E.U. was concerned by the dissolution of the opposition Cambodia National Rescue Party last year and the jailing of its leader, Kem Sokha, on treason charges. Continue reading

Listed real-estate companies on rise

Source : Phnom Penh Post

Several on-going construction projects fill the Phnom Penh skyline. Hong Menea

The number of listed real-estate companies in Cambodia continues to increase due to the sector’s growth in the Kingdom, data from the Cambodian Valuers and Estate Agents Association (CVEA) said.

CVEA figures show that its membership has increased from 96 companies early this year to 107, 18 of which are foreign-owned. Continue reading