Property News Roundup March 21th, 2022

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

1. PP Governor: Construction sector continues to grow with over $2.2B investment recorded in 2021

During the ground-breaking ceremony of a new 44ha borey project in Prek Pnov district, HE Khuong Sreng said, as of 2022, there are a total of 310 boreys and 1,603 high-rise buildings (225 are buildings with 20 floors up).

Mar 14^th, 2022 | Construction Property | Link: https://bit.ly/35NjTqc

2. KH signs $905M concessional loan pacts in 2021

The Cambodian government signed concessional loan agreements with development partners totaling $905.6 million, mainly to finance public investment projects in the priority sectors that support long-term sustainable economic growth.

Mar 15^th, 2022 | Khmer Times | Link: https://bit.ly/3IoRtA5

3. $8M Ang Duong Hospital ENT Treatment Centre to be inaugurated this month

Construction of Cambodia-Korea Friendship Ear, Nose and Throat (ENT) at the Ang Duong Hospital, worth building with US$8-mllion fund from South Korea has been completed and is scheduled to be inaugurated this month.

Mar 15^th, 2022 | Construction Property | Link: https://bit.ly/3wejY0y

4. KH may exit LDC ‘by 2028’ on RCEP

The Regional Comprehensive Economic Partnership (RCEP) agreement could provide a “vital impetus” to drive the Cambodian economy to exit Least Developed Country (LDC) status by 2028, according to the commerce minister on March 14.

Mar 16^th, 2022 | Phnom Penh Post | Link: https://bit.ly/3q8MmO9

5. CDC okays $2.38B of projects in Jan-Feb

The Council for the Development of Cambodia (CDC) has in the first two months of this year announced its approval of final registration certificates for 37 investment projects worth about $2.38 billion, an indication of significant progress in economic recovery as Covid-19 wanes.

Mar 16^th, 2022 | Phnom Penh Post | Link: https://bit.ly/34KhiMY

6. Construction of Chom Chao flyover & underpass 99%, to open for traffic on 19 Mar

Phnom Penh Governor HE Khuon Sreng said that the construction of the flyover and underpass at the Chom Chao roundabout has now reached 99% completion and is set to temporarily open for traffic on 19 March.

Mar 16^th, 2022 | Construction Property | Link: https://bit.ly/3ic38r3

7. Stamp duty tax on real estate collection in Feb increases 17% y-o-y increase

The stamp duty on real estate collected in February 2022 was recorded at approximately US$15.5 million, an increase of 16.98% year-on-year, according to the General Department of Taxation (GDT)’s statistics.

Mar 17^th, 2022 | Construction Property | Link: https://bit.ly/3q8WoyM

8. New petrol price to be adjusted every ten days

The government will shorten the petrol price adjustment from 15 days to 10 days, considering the rapid increase in international crude oil prices, according to the Ministry of Commerce.

Mar 17^th, 2022 | Khmer Times | Link: https://bit.ly/37H0UhD

9. SSEZ imports, exports soar 43% on-year to hit $437M: operator

The volume of imports and exports handled at the Sihanoukville Special Economic Zone (SSEZ) clocked in at about $437 million in the first two months of 2022, marking a 42.81 per cent rise year-on-year from $306 million, according to a statement released by the operator.

Mar 18^th, 2022 | Phnom Penh Post | Link: https://bit.ly/3tmyim9

10. Visa on arrival back, no Covid tests

The Ministry of Health on March 17 announced that fully vaccinated inbound passengers will no longer be required to show a PCR test result proving that they are negative for the coronavirus 72 hours prior to their arrival in Cambodia.

Mar 18^th, 2022 | Phnom Penh Post | Link: https://bit.ly/3tmyfqt