PHNOM PENH: Over the last two decades, Cambodia’s construction sector has experienced tremendous growth, contributing to steady economic growth and creating tens of thousands of jobs. Cambodia so far received over $66 billion in investment.
According to data from the Ministry of Land Management, Urban Planning, and Construction, the ministry has issued permits to more than 57,000 construction companies across the country over the last two decades, based on total investment in the construction sector for the last two years. Last two-decade, sector has earned more than $ 66 billion and employs 150,000 people daily.
According to Mr. Chrek Soknim, president of the Cambodian Valuers and Estate Agents Association (CVEA) , international investors like the Chinese have come to invest in Cambodia’s construction sector, particularly in Sihanoukville, Phnom Penh, and some other potential provinces. More investment projects are expected to be awarded to the construction industry by the end of this year.
Mr. Chrek Soknim stated that the current real estate situation in Cambodia’s market gradually recovering, such as the sale of land, Borey, and condominiums, where the majority of these activities take place. As a local business owner. However, he still encourages people who can afford to buy a condo or apartment to stay because the price during the Covid-19 is lower than the market price.
Separately, the Phnom Penh Capital Administration recently stated that by the beginning of 2022, Phnom Penh to have 310 Borey buildings and apartment complexes, as well as 1,603 high-rise buildings, with 225 of them reaching 20 floors or higher. Building. In Sihanoukville, 278 buildings are finished and operational, while 251 are finished but not yet operational.