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

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

Rights activists demand more freedom

Source : Khmer Times

People gather yesterday at Freedom Park to mark Human Rights Day. KT/Mai Vireak

During the 70th anniversary of Human Rights Day at Freedom Park yesterday, activists urged all governing bodies to pay closer attention to human rights in order to address challenges still being faced.

About 500 people marked the anniversary yesterday at the park, including land activists, farmers, youths, factory workers, civil servants and teachers. Continue reading

JICA holding tax seminars at universities

Source : Khmer Times 

The seminars run until the end of the month. KT/Pav Suy

The General Department of Taxation and the Japan International Cooperation Agency are holding a series of tax seminars in universities across the country to promote the importance of tax revenue.

The series of seminars, which began last month, will run until the end of December.

JICA chief adviser Muto Shizuki said during Tuesday’s seminar at Asia Europe University that education on what taxes can do is key to promoting its importance. Continue reading