Compass Real Estate > Cambodia Real Estate Information > Others > Approvals of construction project proposals drop by 6.1% in Q1

Approvals of construction project proposals drop by 6.1% in Q1

2022-07-06
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Summary:​According to economic and financial sources, the approval rate for building project proposals dropped by 6.1 percent in the first quarter of 2022 compared to the same period in 2021.

According to economic and financial sources, the approval rate for building project proposals dropped by 6.1 percent in the first quarter of 2022 compared to the same period in 2021.

"In the first quarter of 2022, the total number of construction projects approved was 1,001, down 65 projects, or 6.1 percent, from the same period in 2021. According to the study, the projects "include public construction, residential construction, including villa development, commercial construction, industrial construction, and tourism construction.

However, given the continued rise of credit to the construction sector, the sector is anticipated to rebound by 3% in 2022. To minimize hazards, the government keeps an eye on things and implements interventionist policies.

The approval of construction projects is anticipated to rise in the second quarter, according to Chrek Soknim, head of the Cambodian Association of Appraisers and Realtors.

Soknim continued even if there is a slowdown, construction projects will still go through and have little effect on other projects or housing construction.

Source: Compass Cambodia comprehensive arrangement

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