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Cambodia attracts more than 3,000 construction investment projects in first 10 months

2021-11-16
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Summary:Construction sector was projected to recover next year, anticipating a return on foreign investment flows and a recovery. Domestic demand while the government reopens the economy and does not require migrants to enter Cambodia for those who have already been fully vaccinated.

Compass Cambodia report -  A senior official at the Ministry of Land Management, Urban Planning and Construction said the construction sector was projected to recover next year, anticipating a return on foreign investment flows and a recovery. Domestic demand while the government reopens the economy and does not require migrants to enter Cambodia for those who have already been fully vaccinated.

Lao Tip Seiha, Secretary of State of the Ministry of Land Management, Urban Planning and Construction, told Fresh News on November 15, 2021 that in the first 10 months of 2021, the Ministry of Land Management, Urban Planning and Construction and the Capital-Provincial Administration have issued permits of 3,598 construction projects with a construction area of nearly 12 million square meters and an estimated investment capital of 4,876,804,899 dollars.

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He said that most of the investment projects are residential buildings, condominiums, multi-functional buildings, industry, trade, tourism and other buildings.

At the same time, in the first 10 months of 2021, the Ministry of Land Management, Urban Planning and Construction registered and issued business licenses to 285 design and construction companies, including 14 design companies and 271 construction companies  And registered 87 natural persons studying the design project, including 27 architects and 60 engineers.

Chrek Soknim, President of Cambodian Valuers And Estate Agents Association, confirmed that in 2021, during the period when Cambodia experienced a wave of Covid-19 , but construction projects in Phnom Penh are less likely to face obstacles. In some provinces, such as Sihanoukville, some projects are still under construction and some have been delayed because the Chinese project owners did not return to Cambodia, but the situation will return to normal soon.

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He said that as Cambodia, as well as neighboring countries, reopen the country will increase the flow of real estate trade and attract more investors in the construction and real estate sector.

Soknim added "If there is a lot of travel, opportunities in investing, buying, selling, real estate will begin to grow gradually. For me, in the next three to five months, the number of investors will continue to come to the Kingdom of Cambodia, so the growth of real estate exchanges will return to normal in the near future."

Source: Compass Cambodia comprehensive arrangement

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