Weekly Property News Round-up, October 4th, 2021

If you haven’t already, join our upcoming event Q3  2021 Market Update on October 12th at 8:30 am, where we will be exploring how to reposition in a changing market.

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This webinar will be presented by our Managing Director James Hodge, Associate Director Lawrence Lennon and Senior Manager for Research & Consulting Kinkesa Kim. We will welcome your questions during our event.

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

1. Over 80% of Cambodian population vaccinated

More than 80% of the total population have been vaccinated against Covid-19 with first doses.

Sep 27^th, 2021 | Phnom Penh Post | Link: https://bit.ly/2XWGqgi

2. Pan Pacific plans 2 hotels in Q4 2023

Pan Pacific Hotels Group plans to open two hotels by December 2023 with one along Norodom blvd in Phnom Penh and one at Siem Reap.

Sep 27^th, 2021 | Phnom Penh Post | Link: https://bit.ly/3ud6qPY

3. NR5: Battambang-Banteay Meanchey highway completed

A 84.74km stretch of the highway – part of the Asian Highway 1 – was completed at a cost of $160.0m, linking Battambong to Banteay Meanchey.

Sep 27^th, 2021 | Phnom Penh Post | Link: https://bit.ly/39EklFc

4. ADB Lowers 2021 Cambodia Growth Forecast to 1.9%

The Asian Development Bank (ADB) has lowered the 2021 Cambodia economic growth forecast from 4% to 1.9% but expects to see a 5.5% to the growth rate in 2022.

Sep 27^th, 2021 | Construction Property | Link: https://bit.ly/3o6ZXoQ

5. Ground breaks on project at Koh Tonsay

Try Pheap Koh Tunsay Resorts Co Ltd’s 144ha development on Koh Tonsay island broke ground on September 27 with an investment capital of $130m.

Sep 29^th, 2021 | Phnom Penh Post | Link: https://bit.ly/3ogJdvx

6. WB lowers GDP forecast

The World Bank has revised its economic forecast for Cambodia down to 2.2% this year, from 4% in April.

Sep 30^th, 2021 | Phnom Penh Post | Link: https://bit.ly/3CVuwC4

7. GDT extends Property tax payment to end of October

The General Department of Taxation (GDT) has extended the deadline for property tax payment for 2021 from 30 September to 31 October 2021.

Sep 30^th, 2021 | Construction Property | Link: https://bit.ly/2YcpzG7

8. 4 regions in Kep selected as main development zones in the 2021-2035 master plan

4 major areas – the old Kep town, Angkor beach area, the Phnom Voar zone, and offshore islands zone – have been selected as strategic development poles for Master Plan 2021-2035.

Oct 1^st, 2021 | Construction Property | Link: https://bit.ly/3F7qtEE

9. New Boutique Shopping Mall to complete by mid-2022

Lucky Pavilion Mall 2^nd Phase along the Sihanouk Blvd in BKK1 is scheduled for completion and operation by mid-2022 with CBRE Cambodia as the exclusive agent and property manager.

Oct 1^st, 2021 | Construction Property | Link: https://bit.ly/3uuSgK5

10. Kampot Tourism Port 84% Complete

The overall construction of the Kampot Tourism Port has been over 84% completed as of September and is scheduled final complete by the end of 2021.

Oct 1^st, 2021 | Construction Property | Link: https://bit.ly/3uuqQUE