New 516 Construction Projects with nearly 1 Billion-Dollar Investment Capital Appeared in Phnom Penh in the first 10 Months

As in the first 10 months of 2024, Phnom Penh capital has received 516 construction projects covering a total area of 254 million square meters and an estimated investment capital of approximately US$1 billion, according to His Excellency Khuong Sreng, Governor of the Phnom Penh Municipal Government, at the Cambodia-International Construction Industry Expo 2024 on December 5, 2024.

His Excellency Khuong Sreng stated that the construction sector in Phnom Penh has grown significantly, as evidenced by the presence of satellite cities, commercial buildings, residential buildings, hotels, and luxury condominiums being built continuously. To date, Phnom Penh has 448 Borey-flat house projects and 1,848 high-rise buildings, of which 1,088 are 5-9 storey buildings, 491 are 10-19 storey buildings, 144 are 20-29 storey buildings, 79 are 30-39 storey buildings, and 50 are 40+ storey buildings.

At the same time, the governor said that through the implementation of the "Phnom Penh Land Use Master Plan for 2035" to ensure the efficient use of land and existing potential in Phnom Penh, the Phnom Penh administration has continued to promote the implementation of land registration procedures in a comprehensive and systematic manner.

In the first 10 months of 2024, the specialized department collected data on 35,062 land plots, 83 title deeds for the first registration for separated land plots, and promoted the collection of registration tax revenue to the national budget of approximately 290 billion riels, or more than US$70 million.

According to His Excellency Governor, Phnom Penh is one of the four priority poles that plays an important role and is a center of concentration in all sectors, including politics, economics, society, heritage, culture, diplomacy, and tourism.

Currently, the status of the administration of Phnom Penh is divided into 14 districts, 105 communes, and 953 villages, and it has a total area of 695,218 square kilometers, with a permanent population of 2,281,951 and a resident population of approximately 1 million, at a growth rate of 2.1% per year, and a density of approximately 3,282 people per square kilometer.

It is worth noting that the opening ceremony of the Cambodia-International Construction Industry Expo 2024 was held at the Koh Pich Exhibition Center under the chairmanship of His Excellency Say Sam Al, Deputy Prime Minister, Minister of Land Management, Urban Planning, and Construction, with the participation of Lok Neak Oknha Dr. Pung Kheav Se, President of the Cambodia Constructors Association, His Excellency Khuong Sreng, Governor of Phnom Penh, and national and international distinguished guests and many other stakeholders.

This year's Cambodia-International Construction Industry Expo has 112 participating companies, equivalent to 237 booths, and displays more than 500 types of construction materials, equipment, tools, and machinery produced locally and imported from many countries, as well as more than 50 types of services related to the construction sector.