📺 Cambodia Construction and Property News #Week61 (ព័ត៍មានសំណង់និងអចលនទ្រព្យប្រចាំសប្តាហ៍)


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. PM Hun Sen commits to transforming
Sihanoukville into the most important SEZ Ban on online gambling shrinks real estate
activities in Sihanouvkille, but opportunity arises Cambodia-China Cultural and Creative Park gets approval New stadium planned for Kampong Speu ahead of SEA Games Conglomerate Chip Mong acquires
Grand Phnom Penh International City PM Hun Sen commits to transforming
Sihanoukville into the most important SEZ Cambodia’s Prime Minister Samdech Techo Hun
Sen has vowed to transform Sihanoukville into Cambodia’s most important Special Economic Zone which requires the government to develop critical infrastructure. Samdech wrote on his official Facebook page that the government is now paying attention
to the reconstruction of the roads which will cost about US$150 million to
build the road and the drainage system. In addition, Samdech also asked United
Nations Industrial Development Organization to support the implementation of these priority projects during a meeting with Mr Li Yong,
Director General of UNIDO held on 15 October. Besides, the Cambodian government will give priority to other sectors such as electricity to respond to the strong growth in construction and
other development. Ban on online gambling shrinks real estate
activities in Sihanouvkille, but opportunity arises The recent ban by the Cambodian government on online gambling has caused many Chinese nationals to
leave the busy city of Sihanoukville with real estate activities affected as a result. However, experts remain optimistic that this change
will create new opportunity for the industry. Speaking at the real estate market review held on 11 October, Mr James Hodge, Director of CBRE Cambodia said with the government reinvesting in infrastructure
and the movement on the expanding of airport will all have positive impacts on the market. In fact, the government is preparing to begin
construction of 34 roads across the province using US$100 million investment while other infrastructures such as drainage systems and
wastewater treatment are also the government’s top priority. Speaking at the recent media briefing
on investment opportunities in Cambodia, H.E Chea Vuthy, deputy secretary-general of the
Council for the Development of Cambodia said that the government will host a huge seminar in December on tourism investment in Sihanouvkille
aiming to attract more investment. Cambodia-China Cultural and Creative Park gets approval The Council for the Development of
Cambodia has recently given the greenlight to the Cambodia-China Cultural and Creative
Park located in Siem Reap Province. As reported by the CDC, Angkor International Culture Investment & Development
(Cambodia) Co.,Ltd is to inject US$27.5 million of investment in its project and to create about 213 jobs for the local market. The project will also feature a “Smile of Angkor” theatre, a Zhou Daguan Museum, Chenla Cultural Corridor, Cambodia-China Cultural Exchange Centre, Cultural Creative Production Expo Centre,
Catering Cultural Centre and so on. In August 2018 China’s Yunnan Cultural
Industry Investment Holding Group was reported to build the same project over a total of 3.3 hectares of land area
with an expectation of completion by 2020. New stadium planned for Kampong Speu ahead of SEA Games A new stadium has been planned for Kampong Speu province which will serve for the upcoming 32nd SEA Games in 2023, according to the provincial governor. Kampong Speu Provincial Governor H.E Vei Samnang told that, Kampong Speu is to have a stadium that will stretch over 4 hectares of land. Cambodia has been preparing significant
infrastructure for the SEA Games, such as the US$160 million Morodok Techo National Stadium, the Koh Thom swimming pool, the AGT project, and the international swimming pool in Battambang province. Conglomerate Chip Mong acquires Grand Phnom Penh
International City Chip Mong Land has acquired the Grand Phnom Penh
International City which is believed to be one of the largest
property development projects in Phnom Penh. According to an announcement by Grand
Phnom Penh International City Co., Ltd Chip Mong Land Co., Ltd will take over all assets and
businesses of Grand Phnom Penh International City Co., Ltd. Chip Mong Group’s corporate communications
management provided the preliminary information that the company will bring in newly-designed and
high-quality houses and other projects to the market. The Company also plan to build malls and other commercial
building to serve the rising economy of the country. Grand Phnom Penh International City is a huge development project spanning across 260 hectares of land in Sen Sok district. 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.

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