Property News Roundup August 23rd, 2021

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

1. Gov’t Approves Proposed New Public Beach Resort Development in Kep

The Cambodian government has officially approved a project to transform a 2.7-kilometre-long section of muddy beach from the Crab Market to a mangrove forest zone in Phum Thmey village in Kep province into a public beach resort.

Aug 16^th, 2021 | Construction Property | Link: https://bit.ly/2W0YFzS

2.  Local offices being challenged to raise their energy efficiency

Your office is killing the planet, according to the Cambodia Energy Efficiency Competition. It says cutting down on the excessive use of lighting and air conditioners could take a sizeable dent out of carbon dioxide emissions. To encourage companies to play their part, it will be launching a competition to persuade office owners to cut their electricity bills.

Aug 16^th, 2021 | Khmer Times | Link: https://bit.ly/37RCjTL

3.  Asia’s leading luxury brand distributor and operator Bluebell Group launches operations in Cambodia

Bluebell Group – Asia’s leading omnichannel luxury brand distributor and operator – has formally announced the launch of its Cambodian operations. The launch was described as a watershed moment in Cambodia’s timeline of economic development.

Aug 17^th, 2021 | Khmer Times | Link: https://bit.ly/3ALSajb

4.  South Korea funds road testing lab

The Korea Institute of Civil Engineering and Building Technology – through South Korea’s Ministry of Land, Infrastructure and Transport – has granted funds for the construction of a laboratory project at the Techo Sen Institute of Public Works and Transport for the development of road construction and management systems.

Aug 17^th, 2021 | Phnom Penh Post | Link: https://bit.ly/3slodnj

5.  Economic growth projected at 4.8 percent in 2022: Deputy PM

Cambodia’s economic growth is projected to see robust growth next year because of economic recovery resulting from the government’s Covid-19 vaccination programme.

Aug 18^th, 2021 | Khmer Times | https://bit.ly/3CVz2Bl

6.  Gov’t Approves Further US$100-million Financial Support Scheme for SME Sector

The Ministry of Economy and Finance (MEF) has approved a financial support scheme for the SME sector Phase II with a budget of US$100 million after the first phase was successfully implemented, according to a press release on Monday 16 August.

Aug 18^th, 2021 | Construction Property | https://bit.ly/3k0V2lz

7.  Capital’s south an ‘improving foundation to build on’: CBRE

Interest in “Southern Phnom Penh” has gained substantial traction over the past five years since plans for Hun Sen Boulevard were unveiled, triggering a frenzy of real estate speculation, CBRE Cambodia reported on August 12.

Aug 19^th, 2021 | Phnom Penh Post | https://bit.ly/3m9EACm

8.  Australia supports Cambodia through Mekong-Australia Partnership

Australia’s Ambassador to Cambodia, Pablo Kang briefed Aun Pornmoniroth, Minister of Economy on various new Australian programes commencing in Cambodia under the Mekong-Australia Partnership (MAP), a AUD $232 million package ($168 million) over four years to assist the Mekong sub region’s recovery from Covid-19 and to build the region’s ongoing economic and environmental resilience.

Aug 19^th, 2021 | Phnom Penh Post | https://bit.ly/2VYUwwH

9.  Ministerial talks today on post Covid revival with tourist sector

The tourism minister is holding talks with tourism and hospitality industry representatives today. It’s the first of a series of meetings designed to prepare for the return of international visitors and encourage more to come to the Kingdom once Coronavirus is under control.

Aug 20^th, 2021 | Khmer Times | https://bit.ly/37UZo8p

10.  2021-23 plan for economic recovery on way: minister

Cambodia is getting ready to launch a 2021-2023 plan to lift the economy out of the Covid-19 rut and chart a course for sustainable and inclusive growth, according to Minister of Economy and Finance Aun Pornmoniroth.

Aug 20^th, 2021 | Phnom Penh Post | https://bit.ly/3gjOgGx