Estatedia

Nearly 2,000 construction projects reached $1 billion in H1

PHNOM PENH: In the first half of 2022, Cambodia has approved 1,984 construction projects worth more than $ 1,000 million, with investment in construction and real estate expected to recover. Mr. Charles Van, a representative of Duke Dr. Pung Kheav Se, President of the Cambodian Builders Association, confirmed this.

According to the Ministry of Land Management, Urban Planning, and Construction’s construction data, the Ministry had issued 1,984 construction permits by the middle of 2022. And a total investment capital of $1,041 million USD.

He also stated that, according to the Ministry of Economy and Finance’s forecast, the construction and real estate sectors to grow after the Covid-19 crisis subsides in 2022. Construction will expand by 5.4 percent, while the real estate sector will expand by 4.1 percent, and both of these sectors will expand further.

He predicted that investment in construction and real estate would rebound, creating jobs for tens of thousands of people. These are contributions to the Royal Government’s efforts to revitalize the national economy following the Covid-19 crisis.

According to him, the ministry issued 4,303 construction permits with an estimated investment of more than 5,333 million US dollars last year, and 4,841 projects with an estimated investment of more than 7.753 million US dollars by 2020.

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