The average rent in Saigon retail shopping malls last quarter was around US$50 per square meter per month, a year-on-year rise of 9.1%, according to Cushman & Wakefield. Last year dozens of local and foreign brands in fashion, gastronomy, cosmetics, sports, and others came to the city and rented space in malls, the property consultancy…
Vietnam will see more real estate projects by businesses from the Republic of Korea (RoK) investors in the coming time as they are seeking opportunities to enter and expand operations in the country, according to Andrew Lee, Korean Desk Manager at real estate consultancy Savills Vietnam. Illustrative image (Photo: VNA) A recent survey by Savills…
The CapitaLand Development (CLD), a real estate firm and development wing of CapitaLand Group, is investing $1.3b for the enhancement of its first industrial park, logistics park, as well as township development in Vietnam. The CLD and the People’s Committee of Bac Giang province signed a memorandum of understanding (MOU) for the $1.3b investment deal….
The largest temperature-controlled cold storage and cross-docking facility in Cambodia – which will be able to handle up to 25 per cent of the Kingdom’s total requirements – has broken ground in Kandal province. The Kandal Cold Storage project, which had its groundbreaking ceremony on March 22 in Kien Svay district, was funded by Private…
The Ascott Limited launched its first Citadines Flatiron Apart’hotel in Phnom Penh, Cambodia on March 15. Citadines Flatiron Phnom Penh sits right in the middle of Phnom Penh City Centre, within Flatiron by Meridian, a 41-storey mixed-use integrated development, with Grade A office towers and retail components. The Apart’hotel welcomed its first resident and invited…
AEON Mall (Cambodia) Co Ltd’s first “multifunctional logistics business hub” is set to break ground early next month and start operations next year, in a special economic zone (SEZ) near Sihanoukville Autonomous Port (PAS), according to a port source with knowledge of the matter. The shopping mall developer and operator has leased a plot of…
PM Hun Sen said more than $320 million was spent on the construction of infrastructure in Sihanoukville province to improve Cambodia’s image and be the driver of economic growth for the nation. He made the remarks in a speech given at the inaugural ceremony for 37 newly completed roads and three wastewater treatment stations in…
Hong Lai Huat wholly-owned subsidiary HLH Development (HLHD) has agreed to co-develop an 11.5-hectare (ha) site in Sihanoukville, Cambodia with the site’s land owner Smart Winner, announced the group in a bourse filing on Monday (Nov 1). This marks the group’s fourth mixed-use development project in Cambodia as well as its second foray into Sihanoukville…
The Cambodia government is working to transform Sihanoukville province, also known as Preah Sihanouk province, into a multi-purpose special economic zone (SEZ) after the province received the designation earlier this year. On June 9, 2021, Cambodia Prime Minister Hun Sen signed a sub-decree that will make Sihanoukville province a multi-purpose SEZ. The designation stands to…
Cambodia is on course to be the next Asian Tiger, and that is good news for America. Ford Motors recently announced that it is building a $21 million assembly plant in the Pursat province of Cambodia. And the recent virtual business summit showcased the ease of doing business in Cambodia experienced by U.S. companies in…
CBRE Cambodia senior manager Kim Kinkesa told The Post on October 27 that the Cambodia retail rental market has been in steady decline since the global outbreak of Covid-19 early last year. The launch of three new retail centres in the third quarter of this year has brought the total retail space in the capital…
The Ministry of Economy and Finance has awarded a master plan consultancy contract to a top Chinese institute for the development and transformation of Preah Sihanouk province into a “Model Multi-Purpose Special Economic Zone”, Southeast Asia’s next logistics and resort hub and innovation centre. The master plan will serve as a key roadmap to develop…
The real estate market of Sihanoukville province is beginning to show more positive signs after a subdued period, following a double whammy shock of an exodus of Chinese nationals in the wake of an online gambling ban, and then the Covid-19 crisis, observers have said. In a bid to develop the Kingdom’s largest coastal province…
The Covid-19 pandemic has rocked the retail landscape in Phnom Penh, with anxiety around infection risk keeping the masses away from shopping malls and driving retail consumption down by nearly five per cent in the first half of this year, compared to July-December 2020, according to a report by real estate company CBRE Cambodia. Last…
Sihanoukville was once a city that drove both local and international headlines. Considered the next hot property investment destination, Sihanoukville continued development as a prime residential, commercial, retail, and up until 2019, gambling hub in Southeast Asia. The city was the microcosm of Cambodia’s rapid development in the past decade. Sihanoukville, a once-sleepy beach town…
Ream City development, is a new ‘city within a city that is rising from an 834-hectare plot of reclaimed land in Sihanoukville, Cambodia located along the coast of the Gulf of Thailand. The $16 billion project led by the Cambodian property development company Canopy Sands, is one of the largest real estate investments in the…
Senior Minister and Minister of Public Works and Transport Chanthol inspected the progress of the construction of National Road 146B and National Road 148, both of which are scheduled to be completed by August, 2022. The Senior Minister also inspected the automatic concrete mixer, which can be produce enough materials to build 500 meters per…
The rise of online shopping is driving demand for cold storage facilities in Vietnam, a segment that is severely short of supply around the world. Research firm Forrester forecasts online shopping in Asia-Pacific will grow by 30 per cent annually by 2024. Trang Bui, senior director of markets, JLL Vietnam, said the seafood export sector occupied…
Sihanoukville provincial authority and private sector has welcomed a $50 million investment in a new five-star hotel, which observers note will better equip the province to serve tourist arrivals in the years to come. The Council for the Development of Cambodia (CDC) on May 5 gave JinBei Palace Co Ltd the nod for its 195-room…
The third-richest man on the planet, Bill Gates, is also one of the largest private owners of farmland in the US. He is known for supporting environmental innovation, but his farming plans have been secretive until now. In January, US magazine The Land Report — which tracks land transactions and produces an annual list of the…
Prolonged stress from the Covid-19 epidemic crushed Phnom Penh’s retail market over the first quarter of this year in terms of rental prices, occupancy rates and consumer spending, a new report obtained by The Post on April 7 revealed. CBRE Cambodia, the local affiliate of US commercial real estate services and investment firm CBRE Group…
The capital city is facing a surge in vacant retail space, a figure that has been expanding over time but with the onslaught of food delivery apps and e-commerce, and the ongoing risk of Covid-19, how will it all pan out? A while ago, businesses started to disappear from WB Arena, a sprawling $10 million…
Canopy Sands Development, a member of Prince Holding Group has approved a masterplan for Ream City developed by Surbana Jurong Group, a global urban, infrastructure and managed services consultancy headquartered in Singapore. The masterplan specifies a land use plan for the 834-hectare project requiring total investments estimated at $16 billion, and will be developed on…
Canopy Sands Development Co Ltd, a member of Prince Holding Group, one of Cambodia’s largest and fastest growing conglomerates, approved a master plan to develop Preah Sihanouk province’s Ream bay into the $16 billion Ream City. The masterplan specifies a land use plan for the 834ha project, which will be developed on reclaimed land and…
Although the capital source for the real estate market has become tighter and tighter, the latest report by the State Bank of Vietnam (SBV) shows that the total credit outstanding balance of the whole economy is VND8.3 quadrillion; of which, credit in the real estate field is about VND1.6 quadrillion, accounting for nearly 20 percent…
Cambodia’s real estate sector is set to bounce back at a blistering pace after this year’s Covid-19 slowdown in growth, according to newly-appointed Century 21 Cambodia chairman Richard W Davidson. Davidson, a 30-year real estate veteran and industry thought leader, spent more than 10 years working as president and CEO of US-based global iconic brand…
For over a decade, billions of dollars have poured into the construction and real estate sectors, which until last year was not regulated. A year later, the law has yet to take effect, mired by jurisdiction overlaps, slow-to-enact supporting regulations, and apathy. Despite the lack of safety and hard labour, scores of rural Cambodians have…
Vietnam will see strong growth in industrial property next year due to higher demand for industrial parks as business expand production or relocate out of China, according to Savills Vietnam. “In the coming years, particularly 2021 and 2022, I think we are going to see a big emphasis on supply,” said John Campbell, Industrial Services,…
Sihanoukville, Cambodia’s dominant coastal province – is positioned for future growth as the country’s principal gateway onto the 21st Century Maritime Silk Road and global trade routes. It is set to be modelled after the high successful Shenzen development master plan which turned backwaters near the Hong Kong border into a bustling metropolis. Urban planning…
The improvement project of National Road 3 that links Phnom Penh to Kampot province has now reached 89 percent. The project started in May 2018 and is estimated to cost approximately $219 million. The upgraded National Road 3 will also connect Cambodia’s natural tourist and coastal areas to Phnom Penh, the heart of the country….
Having harnessed the attention of residential investors for at least the last three years, Cambodia’s construction boom continues without any signs of dwindling. Until a slowdown evident over the last 12 months, developers had been particularly active in Cambodia’s condominium sector and CBRE sees signs of a resurgence in this side of the market. “The…
HÀ NỘI — The Vietnam domestic real estate market is hoped to have growth in the fourth quarter of this year and before the Lunar New Year 2021 if, by this year-end, the domestic economy is restored to levels from before the COVID-19 pandemic. According to the Việt Nam Association of Real Estate Brokers, the…
HANOI–(BUSINESS WIRE)–A consortium led by KKR (“ KKR”) that includes Temasek, has today completed the acquisition of an investment in Vinhomes Joint Stock Company (“ Vinhomes”), the leading integrated real estate developer in Vietnam. The KKR-led consortium has collectively invested VND15.1 trillion (US$650 million) which translates into a c.6% equity stake in Vinhomes. Following the…
The government has high hopes that Sihanoukville will be the country’s first smart city and a magnet for foreign investment once coastal infrastructure development is completed. Prime Minister Hun Sen said during a meeting on Monday that with the construction of new roads and infrastructure equipped with smart lighting and security camera installations, which has…
With the ongoing coronavirus pandemic, coupled with an online gambling ban that went into effect on January 1, growth in the casino hotspot of Bavet town in Svay Rieng province has slowed down to a crawl. But on March 18, Vietnam suspended the entry of all foreigners into the country to curb the spread of…
HÀ NỘI – The domestic real estate market in the first quarter had the lowest transaction volume in the past four years due to the impact of the COVID-19 pandemic, Việt Nam Association of Real Estate Brokers (VARS) said. https://vietnamnews.vn/economy/674648/real-estate-market-has-lowest-transaction-volume-in-q1-vars.html
HÀ NỘI – The novel coronavirus (COVID -19) outbreak has cost many real estate firms trillions of đồng from their market capitalisation value. Đất Xanh Group Joint Stock Company (DXG) is one of those to have suffered the greatest impacts of the pandemic, leading falling share prices. https://vietnamnews.vn/economy/674631/real-estate-companies-lose-trillions-of-dong-due-to-covid-19.html
HCMC – The coronavirus pandemic has been disrupting the operations of hotels in HCMC, the country’s largest tourist center, forcing many to shut down. The Ministry predicted that “bubbles” in the market are unlikely in 2020. However, it also forecast possible land price hikes in areas designated to become special zones or new residential areas…
SIHANOUKVILLE, Cambodia (Reuters) – When casino owner Kang Qiang looks out the window of his 20th floor office in this city on the remote Cambodian coast, he sees construction cranes sitting idle. The Chinese-funded gambling enclave of Sihanoukville has suffered a double blow. Travel restrictions imposed in recent weeks to slow the global coronavirus pandemic…
The Cambodian Ministry of Land Management, Urban Planning and Construction said the construction industry in the country remains stable despite a serious downturn facing many sectors globally due to impact of COVID-19. https://en.vietnamplus.vn/cambodias-construction-sector-remains-stable/170248.vnp
The National Committee for Coastal Management and Development will coordinate with relevant ministries over the establishment of a billion-dollar tourist area named Neak Reach in Preah Sihanouk province after it was proposed by the Ministry of Tourism. The press release said the Ream City project was estimated to cost up to $16 billion in investment…
The government aims to transform Sihanoukville into Cambodia’s industrial hub – a “second Shenzhen city”, Ministry of Economy and Finance secretary of state Vongsey Vissoth said. Located along the coast, Preah Sihanouk province boasts an international airport, a railway line connected to Phnom Penh and the Kingdom’s only deep-sea port. Its construction sector has attracted…
