Four condominium projects – categorised as either “mid-range” or “affordable” – were completed and ready for move-ins in the second quarter of this year, adding 3,204 units to Phnom Penh’s supply, 9.5 per cent more than in the previous quarter, raising the total to more than 36,000 units as of June
Cambodia imported $215.26 million worth of iron and steel in the first seven months of 2022, up by 20.1 per cent over the $179.18 million logged in the same period in 2021, Customs reported, as the construction sector and general economic situation in the Kingdom continue to improve.
A senior official at the Ministry of Land Management, Urban Planning and Construction said the problem of nearly 100 unfinished buildings under construction in Preah Sihanouk province will eventually be resolved as some building owners are gradually beginning work on them again
The construction ministry reportedly approved 19,322 projects nationwide in the 54 months from January 2018 to June 2022, representing total investment commitment of $31.484 billion, with China remaining the top source market.
A total of 1,679 new construction projects were approved nationwide in the first five months of 2022, down by 150 developments or 8.20 per cent year-on-year, even after the government in November moved to allow a broader resumption of socio-economic activity as Covid-19 eased, which fuelled a
The General Department of Taxation (GDT) has issued a fresh call for property owners nationwide to declare and pay their immovable property and unused land taxes for 2022 on or before September 30 to avoid legal penalties.
Rents and demand for serviced apartments in Phnom Penh are back on the up, buoyed by the reopening of the country in early November and general improvement in the Covid-19 situation, according to a prominent real estate company.
Preah Sihanouk provincial authorities have urged construction owners and landlords to come to a consensus to lower land rental prices to restore the stagnant real estate sector and clean up the image of the coastal province as the economy recovers.
Real estate experts welcomed the Residential Property Price Index (RPPI), saying it will help Cambodia control the rise in housing prices to a certain extent and reduce the risk of a crisis in the industry.
The National Bank of Cambodia (NBC) and the National Institute of Statistics (NIS) launched the Residential Property Price Index (RPPI) which compiles economic and financial statistics to analyse and evaluate economic processes, following the pre-Covid-19 boom in the real estate and construction