πŸ“Ί Cambodia Construction and Property News #Week72 (αž–αŸαžαŸαž˜αžΆαž“αžŸαŸ†αžŽαž„αŸ‹αž“αž·αž„αž’αž…αž›αž“αž‘αŸ’αžšαž–αŸ’αž™αž”αŸ’αžšαž…αžΆαŸ†αžŸαž”αŸ’αžαžΆαž αŸ)

πŸ“Ί Cambodia Construction and Property News #Week72 (αž–αŸαžαŸαž˜αžΆαž“αžŸαŸ†αžŽαž„αŸ‹αž“αž·αž„αž’αž…αž›αž“αž‘αŸ’αžšαž–αŸ’αž™αž”αŸ’αžšαž…αžΆαŸ†αžŸαž”αŸ’αžαžΆαž αŸ)


Hello, welcome to Construction and Property Weekly News. For this week, we bring hot news regarding construction and property sector in Cambodia. With no further delay, let’s go to the news content: More than 400 green projects logged in the last quarter of 2019 Condo supplies projected to grow at 55% in 2020 Government Accelerates Study on National Road 10 Construction Project Mine Exploration License Opens for Public Bidding Government Approved New Airport Investment Project in Koh Kong More than 400 green projects logged in the last quarter of 2019 According to the leading commercial real estate services and
investment firm CBRE Cambodia report released by this on 16 January, there are 405 green net projects recorded in Phnom Penh in last quarter of 2019. Those green projects include hotels, retails, offices, apartments, condominiums, and others. Condominium stands on the top second of the list,
with the number of approximately 120 projects. Those green projects spread out in all districts in Phnom Penh. However, Beong Keng Kang area hosts the most projects, approximately 18 percent, followed by Touk Kork and Chamkarmon, which account
for 14 and 13 percent, respectively. Regarding the green perspective and sustainable city, Phnom Penh is rated as one of the cities with the lowest number
of green areas per capita in the ASEAN region. Recently, the Ministry of Land Management, Urban Planning and Construction
and the Ministry of Environment has called for project owners and developers of residential building projects
to consider the principle of establishing green spaces in their projects According to legal principles, all development projects need 30 percent as green space. Condo supplies projected to grow at 55% in 2020 CBRE, a leading commercial real estate services and investment firm, has projected growth of condominium unit supplies at 55% in 2020, thanks to strong growth in the construction sector in 2019 and the newly approved construction law which builds confidence
in the future quality of buildings and condos. CBRE’s report stated that the affordable condo projects are expected to account for 30%, while mid-range condos will grow by 46% and high-end condos at 24%. Ann Sothida, Managing Director of CBRE (Cambodia), said that the growth in condo supplies in 2020 reflects strong
economic growth, foreign direct investment, and particularly the increase in demand for affordable condos. Ms Sothida also stated that the increase demand for affordable condo reflects high domestic customer growth due to more people moving to the city for work, new couples with new house lifestyle trends, and Cambodian people’s improved income. Government Accelerates Study on National Road 10 Construction Project National Road Number 10 construction project linking Samlot in Battambang province is scheduled for construction in 2020, as the inter-ministry working group has accelerated the study. Pal Chandara, secretary of state and spokesman at Ministry of Public Works and Transport, said they has not come up with final result or marked any location
for constructing the National Road Number 10 because road marks would get worse impact to the forest if the road built through, so the inter-ministries will find other ways to lessen the impact. According to the Public Works Ministry, the National Road Number 10 will stretch over 198 km and it will be built under sovereign loan from Chinese government. Mine Exploration License Opens for Public Bidding Ministry of Mines and Energy announced it opens for application for public bidding on the mine exploration licenses in eight areas which cover cumulatively 1,390 square km
in provinces of Stung Treng, Preah Vihear, Kompong Thom, Siem Reap, and Mondulkiri. The ministry stated local and international companies shall apply for the mine exploration from this January 10th till February 15th. The result of companies to be awarded licenses will be announced publicly after procedures have been taken completely. As of present, about 30 companies, majority of it are foreign companies, To add that, Renaissance Minerals (Cambodia) Ltd
received an Industrial Mining License in 2018 and is scheduled to start mining gold in Mondulkiri province’s Keo Seima district soon. Government Approved New Airport Investment Project in Koh Kong According to an announcement from the Council of Ministers released on January 13, the government has approved on the airport investment on 400 hectares to 600 hectares
to move to build in Mondul Seima district, Koh Kong province. Regarding the relocation, Sin Chansereyvutha, a spokesman
for the State Secretariat of Civil Aviation, said that a joint venture between local firm Ly Yong Phat Group and Bangkok Airlines had asked the government for a relocation
because the company found that the former location in Khemarak Phirum City of former Koh Kong airport was difficult to expand for commercial and industrial sites and it would face high cost of social impact compensation. The two companies were granted in principle to conduct a study on the development of former Koh Kong airport in 2019
and the joint investment would cost $40 million. Dear audiences, Construction & Property weekly news has come to the end. We will come back to you next week. I’m HongTholly Sonit, and our staffs thank you again and goodbye.

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