The Securities and Exchange Regulator of Cambodia (SERC) expects to formally authorise real estate investment trusts (REIT) within the year, in a move to boost the real estate and construction sectors, which have attracted a flurry of investment in recent years, according to its director-general
The government introduced a package of measures to stabilise the construction and borey real estate sectors of the economy.
Five condominium projects – two categorised as “mid-range” and three as “affordable” – were completed and ready for move-ins in the first quarter of this year, adding “more than 3,900” units to Phnom Penh’s supply, raising the total to about 48,600 units as of March 31
Real estate experts are applauding the completion of the Russey Keo bridge, which crosses over the Tonle Sap River in Phnom Penh and is expected to greatly ease traffic in the neighbourhood resulting in more investment in the area and high valuations of the land there.
The land ministry approved a total of 4,275 construction investment projects in 2022 – down 28 projects or 0.65 per cent from a year earlier – with total registered capital of $2.968 billion, down 46.8 per cent on a yearly basis from $5.580 billion, according to the finance ministry.
Golden Tree Co Ltd (GT), the real estate firm behind the Kingdom’s first green bond, reported sound business performance last year, amid economic stress stemming from the Ukraine conflict and prolonged Covid-19 crisis.
Local firms OCIC Group and CBRE Cambodia are joining forces to inject momentum into real estate development in the Kingdom and boost the investment potential of the sector, with a focus on the capital’s most famous man-made island of Koh Pich – also known as “Diamond Island”.
The Ministry of Land Management, Urban Planning and Construction approved a total of 1,100 construction investment projects in the fourth quarter of 2022 – up 60 projects or 5.77 per cent year-on-year – with total registered capital of $1.0092 billion, up 9.3 per cent on a yearly basis from $0.9230
Local public-listed real estate developer JS Land Plc acquired a large parcel of land in western Phnom Penh to develop the The Garden Residency 3 (TGR 3), seen as consistent with the strategic business plans mentioned by the company during its initial public offering (IPO).
The Preah Sihanouk provincial administration has scheduled March 3 as the next date for mediation between real estate developer Borey VIP, its creditors and more than 350 families who say they have paid for homes which have not been built.