Property News Round-up February 28th, 2022

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

1. City hall outlines 5 strategic roadmaps to transform PP into smart city

The Phnom Penh Municipal Administration has outlined a strategic roadmap to convert Phnom Penh into a smart city through the transformation of five main focus areas including land use, safety & security, urban mobility, environment, and digital management.

Feb 21^st, 2022 | Construction Property | Link: https://bit.ly/3gZ6Kfl

2. Hong Kong-based SUNWAH Group mulls investing in real estate sector in SHV

The Sihanoukville provincial administration has expressed its full support to Hong Kong-based SUNWAH Group which intends to invest in the real estate sector in Sihanoukville, as company representatives are currently exploring investment potential in the province.

Feb 21^st, 2022 | Construction Property | Link: https://bit.ly/3gYrXGo

3. PPWSA exceeds expected profit earning $31.7M in 2021

The municipal water utility – Phnom Penh Water Supply Authority (CSX:PWSA) has reported $31.7 million in after tax profit for 2021 an increase of 30% from $24.17 in 2020, as ongoing water leakage remains an issue.

Feb 22^nd, 2022 | Cambodia Investment Review | https://bit.ly/3s64wkF

4. International tourism revenue declines 82%

Cambodia booked just $184 million in international tourism revenue last year, marking an 82 per cent nosedive from $1.023 billion in 2020, as the Covid-19 pandemic curtailed travel throughout the world.

Feb 22^nd, 2022 | Phnom Penh Post | Link: https://bit.ly/3t0eKlW

5. PM rejects criticism accusing SHV deep seaport development as CN’s debt trap

Prime Minister Samdech Techo Hun Sen once again dismissed criticism of the development of Sihanoukville deep seaport as a China debt trap, given that the port has been developed and supported by Japan.

Feb 23^rd, 2022 | Construction Property | https://bit.ly/3BHImsa

6. JP plans to invest in building 2000-unit housing project in Siem Reap

Japanese company UR Linkage Co Ltd has unveiled a study plan to invest in building a 2,000-unit Japanese standard affordable housing project in Siem Reap. This project was presented in the 3rd Public-Private Forum on “Cambodia-Japan Urban Development’ held on 16 February.

Feb 23^rd, 2022 | Construction Property | https://bit.ly/3LW26NJ

7. Gov’t to help resume unfinished high-rise constructions in SHV

The Cambodian government has set out a plan to help attract new investors to continue the development of unfinished high-rise buildings in Sihanoukville that were affected by the COVID-10 pandemic in the past two years.

Feb 24^th, 2022 | Construction Property | https://bit.ly/3pbebVq

8. Gov’t wise in testing the market with $300M debt

The government plans to issue $300 million of sovereign bonds this year to cut its dependence on foreign loans and help fund projects linked to power production, infrastructure and other key sectors.

Feb 25^th, 2022 | Khmer Times | https://bit.ly/35a98xz

9. SHV Autonomous Port Q4 net surges to $5.9M

Sihanoukville Autonomous Port (PAS) recorded a net profit of $5.9 million for the fourth quarter in 2021 due to an increase in container throughput and foreign exchange gains.

Feb 25^th, 2022 | Khmer Times | https://bit.ly/3vg61ic

10. New US$10-M beachfront concrete road in Kep set to begin construction in Mar

Kep Provincial Administration will break ground on the construction project of an 11km beachfront road in Kep city on 1 March.

Feb 25^th, 2022 | Construction Property| https://bit.ly/3tpCpwD