The government on October 12 set up an inter-institutional commission tasked with resolving the issue of unfinished buildings in Preah Sihanouk province, most of which are owned by Chinese investors,
Global economic growth uncertainty has sapped considerable momentum from the Phnom Penh condominium market, which is well-known for its heavy dependency on foreign customers, with no developments in the capital completed or ready for move-ins in the third quarter (Q3) ended September 30.
Cambodia imported $244.754 million worth of “iron and steel” in the first eight months of 2022, up 19.97 per cent from the $204.018 million recorded over the same time in 2021, according to Customs.
Credit Bureau (Cambodia) Co Ltd (CBC) and VTrust Appraisal Co Ltd have teamed up to develop and launch Digital Real Estate Appraisal (Indication Plus Platform), a locally first-of-its-kind property valuation service, to tap into the rapid development of the Kingdom’s construction
PropNex (Cambodia) Co Ltd, a fanchise of the largest listed Singapore real estate company, on September 23 held a “grand opening” in Phnom Penh where it affirmed its vision of expanding its network of agents by roughly 150 per cent to 1,000 by the end of next year.
Duong Sophavy, a local entrepreneur who started out as a wholesale trader and an owner of a Khmer-Thai tour agency, among other businesses in Cambodia and Thailand, is now turning her energies to the mobile home market as they are increasingly being used at resorts, plantations and as bungalows.
Four condominium projects – categorised as either “mid-range” or “affordable” – were completed and ready for move-ins in the second quarter of this year, adding 3,204 units to Phnom Penh’s supply, 9.5 per cent more than in the previous quarter, raising the total to more than 36,000 units as of June
Cambodia imported $215.26 million worth of iron and steel in the first seven months of 2022, up by 20.1 per cent over the $179.18 million logged in the same period in 2021, Customs reported, as the construction sector and general economic situation in the Kingdom continue to improve.
A senior official at the Ministry of Land Management, Urban Planning and Construction said the problem of nearly 100 unfinished buildings under construction in Preah Sihanouk province will eventually be resolved as some building owners are gradually beginning work on them again
The construction ministry reportedly approved 19,322 projects nationwide in the 54 months from January 2018 to June 2022, representing total investment commitment of $31.484 billion, with China remaining the top source market.