SIEM REAP: The new Siem Reap International Airport is still under construction until the end of the first half of 2022, when the entire project will be completed approximately 34%, with a goal of 70% by the end of 2022, despite the difficult situation, many Cambodian development projects continue to move forward in order to meet the goals set.
On the afternoon of July 12, 2022, H.E. Sin Chanserey Vutha, Spokesman for the Secretariat of State for Civil Aviation, told AMS that the Siem Reap International Airport had reached approximately 34% completion and that the developer promised to complete it on time.
H.E. added: “Factors slowing down the construction of Siem Reap International Airport as a result of the Covid-19, labor issues, particularly materials for the construction process.” However, H.E. confirmed that the project will be launching before the Techo International Airport project because the Cambodian plan has already determined which process will take place.
Many real estate experts anticipate positive signs for real estate, particularly in the land sector surrounding the two international airport projects expected to drive up land prices and make it easier to list properties for sale.
Oknha Kaing Sothy, CEO of Century21 Land Station International Real Estate Agency and a land expert in Cambodia, stated that land near Techo International Airport was previously unappealing to investors, but since the international airport project announced, there was a surge in interest, and the price of land in the area has skyrocketed. Furthermore, the multibillion-dollar project, many developers have begun to rush to build houses, shopping malls, Boreys, and other projects.