Cambodia’s Phnom Penh attracts 1,000 construction projects, real estate outlook positive
Phnom Penh Governor H.E. Khuong Sreng says that Phnom Penh has so far attracted around 1,000 new investment projects covering a construction area of 4.63 million square metres, with an investment capital of over US$2.26 billion.
The construction sector is among the Royal Government’s top priorities along with agriculture, industry and tourism, and is significantly contributing to the recovery of the Cambodian economy after the COVID-19 pandemic crisis.
To bolster the sector, the government has introduced support policies such as the investment laws and reforms to make Cambodia as well as Phnom Penh a competitive and favourable location for investments, he added.
Mr. Chrek Soknim, President of Cambodian Valuers and Estate Agents Association (CVEA), noted that currently Cambodia real estate market is gradually getting back on track, especially among domestic investors.
Particularly Chinese investors, he added, are also eyeing more investment in construction sector likely in Phnom Penh, Preah Sihanouk, and some other provinces.
According to the Ministry of Economy and Finance, the growth rate of Cambodia real estate increased to 2.4 percent in 2021 and is expected to rise to 4.8 percent in 2022 given strong domestic investment and demand and increase in foreign investments.
Source: https://www.khmertimeskh.com/501090362/phnom-penh-attracts-1000-construction-projects-real-estate-outlook-positive/
