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Old July 23rd, 2010, 01:39 PM   #2201
camtv03
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Construction approvals fall 71pc in first half

Friday, 23 July 2010 15:00 Soeun Say

THE value of construction approved by the government has fallen 71.14 percent in the first half the year, according to official figures released by the Ministry of Land Management Urban Planning and Construction yesterday. The government approved 1,094 construction projects worth a combined US$329 million in the first six months of 2010, down from the 1,142 construction projects worth $1.1 billion approved for the first half of last year. “The construction sector is still struggling,” Lao Tip Seiha, Ministry director, told the Post.
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Old July 23rd, 2010, 01:41 PM   #2202
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Recovery watch: Real estate licences see modest rise

Friday, 23 July 2010 15:01 Soeun Say
COMPANIES licensed to operate in the real estate and land valuation sector have slightly increased in Cambodia since January, a fact commentators hope could hint at a recovery in the industry after firm numbers halved during the financial crisis.

There are 42 real companies with licences to operate in the Kingdom, slightly more than the 34 licensed in January this year, Moa Pov, deputy chief of Ministry of Finance and Economy’s real estate division, said yesterday.

While the number of issued permits still lies far below the 74 companies licensed at the beginning of 2008, before a global economic melt-down hit the domestic real estate sector, he was hopeful for a full recovery of the operator numbers.

“If the real estate market recovers this year or next year those real estate and valuation companies will come back,” he said.

But Kerk Narin, general manager of Bonna Realty Group, said smaller real estate agents had struggled to remain open for business. The cost of getting a yearly licence and a certificate is 700,000 riels (US$167) – as defined by a 2007 prakas, or edict. Any company operating without a licence incurs a fine of 5 million riels ($1,250).
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Old July 23rd, 2010, 06:41 PM   #2203
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Quote:
Originally Posted by StrongAngkor View Post
Sound pity Cambodia! I think we need more time to make the situation better. But how? Our government uses the frog step strategies while our neighbour country is running ahead. We need to think much on poverty n unemployed. If people hav work hav money so they can pay on things. Then the economic will run n the investor will feel more confident to invest in our country.. If no civil war, Everything would not like this.. :-( but just we proud of our country that can get up from dark life till now.
I totally agree with you too,

And I also understand about our country that just 30 years old get up from the dark life!

Somemore, our government uses the frog step strategies..it's not bad at all but I think that frog is too fat.
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Old July 24th, 2010, 03:42 AM   #2204
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Thanks Ysovan and Myphnompenh for supporting, :-) so the frog should be more in shape coz maybe he has eaten much n cant run so fast lolz. By the way, anyone has update pic plz post more. :-) Even Star river, IFC, Sun Wah still sleeping, But we still have Gold tower 42, De Castle Royal, Vattanak Bank, Phnom Penh tower. Etc that r all in progressing n will be completed soon, i think. Those also can change phnom Penh skyline too. :-D
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Old July 25th, 2010, 07:58 PM   #2205
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Ministry of Land Management, Urban Planning and Construction

Monivong Boulevard

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Old July 26th, 2010, 04:08 PM   #2206
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Ministry of Land Management, Urban Planning and Construction

Monivong Boulevard
Where is this project located??? Thank for sharing
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Old July 27th, 2010, 02:25 PM   #2207
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This thread is now kinda dead. I think because not a lot of constructions been progress.
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Old July 27th, 2010, 06:06 PM   #2208
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Bad news

Parkson postpones entry into Kingdom

Monday, 26 July 2010 15:01
Jeremy Mullins

MALAYSIA-based retail chain Parkson Holdings Bhd has pushed back its entrance to Cambodia until 2012, according to a company spokesperson.

The retailer had targeted early 2011 as the launch date for its first Phnom Penh department store, but “the earlier identified project was delayed, and we are now looking at other alternatives,” said company spokesperson Quah Le Ching.

She declined to elaborate on the reasons behind the delay, but said the firm was still looking to make its entry into the Kingdom by 2012.

“This is a natural extension of our expansion strategy into the Indochina retail market,” she said.

A subsidiary of Lion Diversified Holdings Bhd, Parkson presently operates 44 department stores in China, 35 in Malaysia, and six in Vietnam.

An online statement said that the company aimed to add 12 additional stores in its existing three markets by the end of 2010, and would spend US$78 million increasing floor space by between 15 and 20 percent.

Some 70 percent of Parkson’s revenue presently comes from China.

Lion also operates significant steel, motor and tyre businesses regionally.

Quah Le Ching did not reply to a request for comment on the proposed location of the postponed store.
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Old July 27th, 2010, 06:07 PM   #2209
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Where is this project located??? Thank for sharing
Monivong Road
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Old July 27th, 2010, 06:09 PM   #2210
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This thread is now kinda dead. I think because not a lot of constructions been progress.
This is truth. The only project that progress fast is Phnom Penh Tower.
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Old July 27th, 2010, 07:03 PM   #2211
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Hi SeeMacau,

By this time, the Phnom Penh Tower is probably reached its top level already.
Do you have any photo of this tower? And how about the GT42?

Thanks for all updates.
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Old July 27th, 2010, 10:40 PM   #2212
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Well, The PPT is not as big and high GT42. Of course it'll progress alot slower. I just hope that some of the projects that's holding off right will start soon.
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Old July 28th, 2010, 10:32 AM   #2213
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So bad.. The time that many investors came to invest in our country, suddenly there had a financial crisis happening, as result of many projects n proposals were cancelled or delayed. Even the economic crisis is better now but the situation of the projects seem still sleeping. Dont know why? N when it will be better n get up? Cambodia need to run. I see the construction in Macao, such as Recently A massive Casino, the progressing is so fast.. What is the reason? Seemacau probably know about this. :-) thanks alot
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Old July 28th, 2010, 02:27 PM   #2214
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Quote:
Originally Posted by StrongAngkor View Post
So bad.. The time that many investors came to invest in our country, suddenly there had a financial crisis happening, as result of many projects n proposals were cancelled or delayed. Even the economic crisis is better now but the situation of the projects seem still sleeping. Dont know why? N when it will be better n get up? Cambodia need to run. I see the construction in Macao, such as Recently A massive Casino, the progressing is so fast.. What is the reason? Seemacau probably know about this. :-) thanks alot
Yes Cambodia really unlucky,
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Old July 28th, 2010, 02:42 PM   #2215
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Malls race to be first in Kingdom's second city

The Phnom Penh Post
Wednesday, 28 July 2010 15:00 Soeun Say

DEVELOPERS said yesterday that Borey Thmey Shopping Mall would be Battambang’s first, after the opening of Battambang Shopping Centre was pushed back a year.

The US$10 million four-storey Borey Thmey mall in Svay Por Commune will contain 600 units, its manager of sales administration Neang Nead Thanith said.

“We’re the first shopping mall in Battambang city, and we will allow our tenants to prepare their shops in November.

“We plan to open for business early next year,” she said.

Meanwhile, Phou Puy, the owner of 1,500-store Battambang Shopping Centre, said yesterday that his project would not be completed by the end of 2010, as it was claimed in April.

He revised the target for completion to the beginning of 2011.

“We are rushing to complete the project. Now, we’re doing only interior design,” he said.

The Post has visited the project site twice in the past month, and no work or construction equipment was in evidence on either occasion. Only the shell of the Battambang Shopping Centre was complete.

Borey Thmey Shopping Mall is owned by Lim Chhiv Ho, managing director of Attwood Import-Export.

It has sold about 80 percent of its store locations, Neang Nead Thanith said. “Customers will come here because it will be the first one in Battambang, and it is in a good location,” she said.

“Hopefully we can attract more shops to our mall next year, but realistically we don’t hope to sell out this year.”

Lao Tip Seiha, construction department head for the Ministry of Land Management, Urban Planning and Construction, said the ministry had approved Borey Thmey’s licence in 2008.

“The ministry will be proud to see the first new shopping mall in Battambang. We really do support them,” he said. “Battambang is a city with a lot of potential.”

The new mall will create local jobs and boost the local economy, he said.

Last edited by camtv03; July 28th, 2010 at 02:48 PM.
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Old July 28th, 2010, 05:24 PM   #2216
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Quote:
Originally Posted by VRS001 View Post
Hi SeeMacau,

By this time, the Phnom Penh Tower is probably reached its top level already.
Do you have any photo of this tower? And how about the GT42?

Thanks for all updates.
Working on level 18/19.

It will reach the top level by next month
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Old July 28th, 2010, 05:46 PM   #2217
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Quote:
Originally Posted by StrongAngkor View Post
So bad.. The time that many investors came to invest in our country, suddenly there had a financial crisis happening, as result of many projects n proposals were cancelled or delayed. Even the economic crisis is better now but the situation of the projects seem still sleeping. Dont know why? N when it will be better n get up? Cambodia need to run. I see the construction in Macao, such as Recently A massive Casino, the progressing is so fast.. What is the reason? Seemacau probably know about this. :-) thanks alot
Cambodia and Macau - different scenarios

Macau is a very small city relies heavily on gambling, 75 percent of its tax income are base on gambling revenues. Major source of income relies on visitors from mainland China, as Macau is the only Chinese city where casino gambling is allowed.

Cambodia is approaching the right track, the country need to speed up all the developments (ex. infrastructures - building roads, railways so to attract more investors from oversea). Foreign investors won't choose to invest in a country with poor infrastructure and without any sound policies. This will gradually hinder potential growth and weaken international competitiveness.

Vietnam is the country Cambodia can follow !!
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Last edited by SeeMacau; July 28th, 2010 at 06:31 PM.
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Old July 28th, 2010, 08:34 PM   #2218
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Originally Posted by SeeMacau View Post
Cambodia and Macau - different scenarios

Macau is a very small city relies heavily on gambling, 75 percent of its tax income are base on gambling revenues. Major source of income relies on visitors from mainland China, as Macau is the only Chinese city where casino gambling is allowed.

Cambodia is approaching the right track, the country need to speed up all the developments (ex. infrastructures - building roads, railways so to attract more investors from oversea). Foreign investors won't choose to invest in a country with poor infrastructure and without any sound policies. This will gradually hinder potential growth and weaken international competitiveness.

Vietnam is the country Cambodia can follow !!
How can the government speed the developments when most of the money goes to his pockets! So far, for over 35 years we have our first overpass lolz!
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Old July 28th, 2010, 09:31 PM   #2219
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How can the government speed the developments when most of the money goes to his pockets! So far, for over 35 years we have our first overpass lolz!
sad to hear that.. but at least there is improvement...
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Old July 29th, 2010, 12:48 AM   #2220
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sad to hear that.. but at least there is improvement...
I'm speaking the truth! For over 35 years none of the money from his pockets went into developing the country!
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