📺 Cambodia Construction and Property News #Week56 (ព័ត៍មានសំណង់និងអចលនទ្រព្យប្រចាំសប្តាហ៍)​

Hello, welcome to Construction & Property weekly news. Every week, we bring hot news regarding construction and property in Cambodia.


Hello, welcome to Construction & Property weekly news. Every week, we bring hot news regarding
construction and property in Cambodia to you. With no further delay,
let’s go to the news contents of this week. Economy Ministry: Construction and real
estate sector to experience 4-year slow down Government boosting more SEZ establishment along border area City Hall holds meeting on ‘Walking Street’ project Chinese investors asked to invest in affordable housing project World’s first space hotel to launch by 2025 Economy Ministry: Construction and real
estate sector to experience 4-year slow down The Ministry of Economy and Finance has forecasted
that the construction and real estate sectors the sub-sectors supporting economic growth, are to experience a slowdown from 2019 to 2022, although growth is expected to remain high. The report, which was handed to reporters during the
30 August Council of Ministers meeting, shows that the construction sector is expected
to grow at a speed of 17.3% in 2019 and down to 14.9% in 2022. The real estate sector will grow at
8.8% in 2019 and down to 7.5% in 2022. The slow down comes as the country’s GDP is forecasted to down due to external pressures like the possible removal of
the ‘Everything but Arms (EBA)’ trade deal with the EU. Anyway, the Ministry of Economy and Finance noted that that the construction sector remains strong. This is due to the growth of mid-range and affordable projects
through the implementation of the affordable housing projects. Meanwhile, the growth of real estate also remains strong
paralleled with the growth trend of the construction sector. Government boosting more SEZ establishment along border area The Council for the Development of Cambodia (CDC) is studying and seeking understands on investment and trade to compile a mechanism to boost more establishment
of special economic zones along the border areas, while drafts of the new law on investment and new
law on special economic zone has been completed. CDC Secretariat General H.E. Sok Chandasophea said that boosting industrial development is in the government’s vision which mentioned in the 18th government-private forum. H.E. said that the CDC has sought for understanding
on activities of investments and trade along at the main hub along the border, particularly in SEZs. to collect inputs for setting the mechanism Figures from CDC showed that as of 2017, there are 44 SEZs in
Cambodia. City Hall holds meeting on ‘Walking Street’ project Phnom Penh Municipality organised a meeting on 05 September to discuss the implementation of the ‘Walking Street’ project. The meeting was chaired by Phnom Penh
Municipal Governor H.E Khuong Sreng with other relevant authorities participated as well. The Walking Street project running from the
Cambodia Post Office to the Royal Palace will allow vendors to sell products and
convenience of the public walking around the area. Met Meas Pheakdey, spokesman for
Phnom Penh Municipality, told that the project will be open for businesses
selling all kinds of products, food stalls, souvenirs stalls, handmade products stalls, and all kinds of Khmer products needed by tourists. The move came after the Ministry of Land
Management Urban Planning and Construction issued an executive regulation on the road layout plan for pavements, pedestrian paths,
and bicycle lanes across the country. Chinese investors asked to invest in affordable housing project Phnom Penh Municipality has asked a group of Chinese
investors to invest in building affordable housing for sales to civil servants and people who have low incomes. This project was revealed in a meeting on Tuesday 03 September between the governor of Phnom Penh Municipality
and China-based World Hakka Business Association. The project would be located on the outskirts of Phnom Penh about 50 to 60 km from the city. H.E Khoung Sreng said that Phnom Penh Municipality will request
principles from the government to help the investors in importing construction
material with free tariffs into Cambodia, if the association agree, Regarding the project, both City Hall and the
Association agreed to continue more detailed discussions. World’s first space hotel to launch by 2025 The Gateway Foundation has announced plans to launch the world’s first space hotel by 2025, which will initially be able to
accommodate up to 400 Astro-tourists. This project is known as the Von Braun Space Station, which use the same technology as on
the International Space Station (ISS). Comprising of 24 individual rooms, the hotel is expected to be able to
accommodate up to 100 tourists per trip. When complete, this project will be the
first commercial spaceport in history, which will operate as an orbiting
cruise ship with luxury accommodation, restaurants, bars, musical concerts,
movie screenings, and educational seminars. Dear audiences, Construction & Property weekly news has come to the end. Thank you for spending time with us. We will come back to you next week. I’m Bun Saosopheakneath, and our staffs thank you again and goodbye.

One thought on “📺 Cambodia Construction and Property News #Week56 (ព័ត៍មានសំណង់និងអចលនទ្រព្យប្រចាំសប្តាហ៍)​”

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