Building for Growth: Cambodia’s construction sector sees 138% investment increase

PHNOM PENH: Cambodia currently boasts over 2,500 high-rise buildings with 5 stories or more, with more than 50 buildings reaching 40 stories or higher.

According to a senior official at the Ministry of Land Management, this marks a significant improvement in Cambodia's construction industry, with growth expected to continue through 2023.

Within the first five months of this year, the Ministry has approved more than 1,400 projects worth over $2.2 billion, a 138% increase from the same period in 2022. Most of these projects are led by . Still, the Ministry has also issued construction permits worth nearly $600 million to foreign investors from countries including China, Japan, and South Korea.

With this upward trend expected to persist, H.E. Lao Tip Seiha, Secretary of State of the Ministry of Land Management, Urban Planning, , anticipates continued growth in Cambodia's construction sector for the next few years.

As of now, Phnom Penh has the highest number of high-rise buildings at 1,711, followed by Sihanoukville with 990, Banteay Meanchey with 142, and other provinces with 43 buildings. Additionally, Cambodia boasts 52 buildings that rise 40 stories or higher, a notable achievement compared to neighboring countries in the region.

Post Comment