Compass Real Estate > Cambodia Real Estate Information > Investment in construction hits $6.5 billion: Ministry

Investment in construction hits $6.5 billion: Ministry

2019-10-18
124
0
Summary:Investment in construction in the Kingdom reached a new high during the first nine months of the year, amounting to $6.5 million, according to the latest government report.

/public/uploads/us/image/20191018/1571370276288705.jpg

The Ministry of Land Management has approved 3,433 construction projects in just nine months. KT/Pann Rachana

Investment in construction in the Kingdom reached a new high during the first nine months of the year, amounting to $6.5 million, according to the latest government report.

From January to September, investment in the sector grew by 34.7 percent compared with the same period last year, according to a report from the Ministry of Land Management.

The same report highlights that a total of 3,433 construction projects were greenlighted across the country during the same period. Together, they will occupy more than 13 million square metres.

The ministry noted that during the same nine months last year 2,541 projects were approved, covering a combined 10.7 million sqm. Total investment equalled $4.8 billion.

From the year 2000 to the end of September this year, the ministry approved 46,991 construction projects, amounting to a total investment of more than $48 billion and occupying over 126 million sqm, the report notes.

According to the report, there are 1,517 buildings in Cambodia consisting of at least five floors.

The Chinese continue to lead the pack when it comes to investment in the Kingdom, it says.

Heom Seiha, research director of VTrust Appraisal, told Khmer Times recently that much of the hike in investment can be attributed to the growing demand for housing among locals. This demand, he said, is fueled by the country’s emerging middle class as well as its newlyweds.

“Growing demand [for housing among Cambodians] has resulted in an increasing number of construction projects,” he said.

Chrek Soknim, Cambodian Valuers and Estate Agents Association president, recently said that robust growth in the construction sector will continue for at least the next five years.

“As long as the political and economic situation remains stable, the construction sector will continue to thrive,” he said. Source from Khmertimes.


  • ---------------------------------- The End ----------------------------------

Disclaimer: The re-forward articles on Compass website are for the purpose of conveying more information, and it does not mean that the Compass website agrees with its views or confirms the authenticity of its content. Article noted as "Source: Compass original", please note that the source from Compass. The content of the article is for reference only and should not consider as investment advice, and it does not mean that Compass agree with its views.

1

Share
Latest comment
0/500
{{MemberInfoData.nickname}}
{{MemberInfoData.tel_arr[0].showtel}}
  • Rent
    {{MemberInfoData.house_num.rent}}
  • Buy
    {{MemberInfoData.house_num.buy}}
  • Land for rent
    {{MemberInfoData.house_num.land_rent}}
  • Land for sale
    {{MemberInfoData.house_num.land_buy}}
Compass customer
{{MemberInfo.show_company_name}}
{{showTime.show_time}} active
Image is being sent:
Message loading
Message failed to load, click to try again
{{emoji.emoji}}
OBTAIN
Send a business card to{{ taname }}
Start sending
Cancel
No recent contacts
  • {{ind.unreadMessageCount}}
    {{ind.nickname}}
    {{ind.sentTime | time}}
    [图片]
    [语音]
    [视频]
  • Recent contacts are loading
  • {{item.nickname}}
{{send_title}}
  • {{follow.house_name}}
    {{follow.house_province}} {{follow.house_city}}
    {{follow.currency_price_sold_price.start}}{{follow.currency_price_sold_price.mid}}{{follow.currency_price_sold_price.end}}
Selected({{checked_length}}/3)