Property News Roundup 25th March 2024
We’re delighted to share the weekly news highlights below.
- Funan Techo Canal Development: Shifting Economic Currents in Southeast Asia
The ambitious Funan Techo Canal project aims to forge a direct link between the Phnom Penh Autonomous Port and the seaport of Kep province through a monumental canal—the largest in Cambodian history. With dimensions boasting a width of 100 metres and a depth of 5.4 metres, the canal is primed to accommodate cargo ships of up to 3,000 DWT.
March 15, 2024 | Construction Property | Link: https://tinyurl.com/5ecu99m7
- Progress Update: Mekong River Bridge Construction in Kratie Province Reaches 45% Completion
The Ministry of Public Works and Transport (MPWT) has announced that the construction of a Mekong River bridge in Kratie province, funded by China with a budget of US$111 million, has reached 45% completion, with the connecting road at 15%.
March 15, 2024 | Construction Property | Link: https://tinyurl.com/yde2wtu9
- EU Commits US$13m Grant for Bakheng Water Treatment Plant Phase 3
The European Union (EU) has pledged a grant of US$13 million for the implementation of Bakheng Water Treatment Plant Phase 3, as announced by HE Jutta Urpilainen, European Commissioner for International Partnerships, during a visit to the plant on 13 March. HE Hem Vanndy, Minister of Industry, Science, Technology, and Innovation (MISTI), also participated in the visit, as outlined in a press release.
March 15, 2024 | Construction Property | Link: https://tinyurl.com/5d65buf8
- NR 33 Rehabilitation Project Exceeds Expectations, Progress at 55% Faster Rate
The rehabilitation and enhancement project of NR 33 has surpassed expectations, achieving over 55% completion as of 15 March 2024, which is 17% faster than initially planned.
March 16, 2024 | Construction Property | Link: https://tinyurl.com/yuwjutp7
- Cambodia Malaysia China High-Tech Park Worth US$300m on 100ha Near Phnom Penh to be Completed in Five Years
Global real estate network IQI has forged a Memorandum of Understanding (MoU) to establish an advanced technology manufacturing park in Cambodia.
March 16, 2024 | Construction Property | Link: https://tinyurl.com/3paxchfj
- Rehabilitation of Main Canal 96 Reaches 35% Completion
The project rehabilitating the main Canal No. 96, a vital component of the effort to manage water flow and divert rainwater away from Phnom Penh, has achieved approximately 35% completion, as reported by the Ministry of Water Resources and Meteorology (MoWRM).
March 16, 2024 | Construction Property | Link: https://tinyurl.com/2p8my3mr
- Cambodia, Thailand to boost economic growth through connectivity
Neighbouring Cambodia and Thailand have vowed to boost their economic growth through infrastructure, trade, investment and tourism connectivity.
March 19, 2024 | Khmer Times | Link: https://tinyurl.com/2p9m3jdn
- Cambodia-Malaysia Direct Flight to Boost Tourism and Investment
Malaysian Ambassador to Cambodia Datuk Eldeen Husaini Mohd Hashim expressed hope that the launch of Phnom Penh-Kuala Lumpur direct flight signified the importance of Malaysia as a tourist and lucrative business destination to Cambodia.
March 19, 2024 | Khmer Times | Link: https://tinyurl.com/yc4h76b5
- Govt boosts economic integration globally through EU-Gate
The Ministry of Commerce (MoC) in collaboration with the European Union (EU) and the German Federal Government (GIZ) has contributed significantly towards progressive trade development, allowing the Kingdom’s economy to integrate into the region and the world.
March 19, 2024 | Khmer Times | Link: https://tinyurl.com/y46jvryk
- Chinese firms show feasibility of Light Railway connecting airport, metro in Phnom Penh
The feasibility of a Light Railway line connecting Phnom Penh to the new airport and planned city metro (subway) was presented by the China Metro Group and Guangzhou Metro Group to the Inter-Ministry Committee of Cambodia on Saturday, said the Council for the Development of Cambodia (CDC).
March 19, 2024 | Khmer Times | Link: https://tinyurl.com/nhk8t688
- Dauntri Dam in Battambang Province Reaches 81% Completion, to be completed by October Next Year
Construction of the Dauntri Dam in Battambang province, funded by South Korea, has reached an impressive 81% completion and is on track to be operational by 2025, as announced by the Ministry of Water Resources and Meteorology (MWRM).
March 19, 2024 | Construction Property | Link: https://tinyurl.com/5n94vrxz
- Cambodia Unveils Ambitious US$5B Plan for Maritime Infrastructure to Serve 1.2m Passengers and 41m tons of Cargo by 2030
In a strategic move to bolster Cambodia’s water transport capabilities and fortify its logistics system, the Royal Government has proposed a comprehensive master plan comprising 20 maritime projects.
March 19, 2024 | Construction Property | Link: https://tinyurl.com/yc62bscb
- PM announces 617 PIPs worth $11.7 billion
In a major push for socioeconomic development and generating more job opportunities, the Royal Government of Cambodia (RGC) earmarked a three-year rolling plan for the Public Investment Programme (PIP) to complete 617 projects at the cost of $11.69 billion.
March 20, 2024 | Construction Property | Link: https://tinyurl.com/bdh8v95k
- New Tourism Port on Koh Tonsay in Kep province, Koh Tonsay Tourism Port Reaches 90% Completion, Marking Milestone for Kep Province
A significant milestone has been achieved in Kep province as the construction of the tourist port on Koh Tonsay nears completion, reaching an impressive 90% as of March 19, 2024. This progress was confirmed during an inspection conducted by HE Dr. Som Piseth, Governor of Kep Province, and the accompanying working group, underscoring the province’s commitment to enhancing its tourism infrastructure.
March 20, 2024 | Construction Property | Link: https://tinyurl.com/ypdbeya8