Cambodia’s construction sector booming

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Phnom Penmh construction
Construction works at the banks of the Tonle Sap River, Phnom Penh. Photo © Arno Maierbrugger

Cambodia’s construction sector received a total investment of $2.14 billion in the first eight months of 2013, up 40 per cent over the same period last year, a government report showed on September 27.

From January to August this year, the Ministry of Land Management, Urban Planning and Construction had issued constructing licenses to 1,100 projects throughout the country. Those projects are mostly residential units, commercial buildings, apartments, hotels, shopping malls, agricultural processing plants and garment factories, said Lao Tip Seiha, deputy chief of the Ministry’s construction department.

“Strong growth in the construction sector reflects investors’ confidence in Cambodia’s political stability and favorable business climate,” he said.

Construction is one of the four pillars supporting the country’s economy. The top ten countries and regions investing in the sector are South Korea, China, Britain, Thailand, Russia, Japan, Malaysia, China’s Taiwan, India and Vietnam.

Cambodian real estate and construction has bounced back in the last three years after it was hit hard by the global financial crisis in 2008. Just recently, Hongkong Land, a Hong Kong-based property group, broke ground on a $100 million mixed-use development project in Phnom Penh’s financial hub.

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Reading Time: 1 minute

Construction works at the banks of the Tonle Sap River, Phnom Penh. Photo © Arno Maierbrugger

Cambodia’s construction sector received a total investment of $2.14 billion in the first eight months of 2013, up 40 per cent over the same period last year, a government report showed on September 27.

Reading Time: 1 minute

Phnom Penmh construction
Construction works at the banks of the Tonle Sap River, Phnom Penh. Photo © Arno Maierbrugger

Cambodia’s construction sector received a total investment of $2.14 billion in the first eight months of 2013, up 40 per cent over the same period last year, a government report showed on September 27.

From January to August this year, the Ministry of Land Management, Urban Planning and Construction had issued constructing licenses to 1,100 projects throughout the country. Those projects are mostly residential units, commercial buildings, apartments, hotels, shopping malls, agricultural processing plants and garment factories, said Lao Tip Seiha, deputy chief of the Ministry’s construction department.

“Strong growth in the construction sector reflects investors’ confidence in Cambodia’s political stability and favorable business climate,” he said.

Construction is one of the four pillars supporting the country’s economy. The top ten countries and regions investing in the sector are South Korea, China, Britain, Thailand, Russia, Japan, Malaysia, China’s Taiwan, India and Vietnam.

Cambodian real estate and construction has bounced back in the last three years after it was hit hard by the global financial crisis in 2008. Just recently, Hongkong Land, a Hong Kong-based property group, broke ground on a $100 million mixed-use development project in Phnom Penh’s financial hub.

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