Property-Report.com
Cambodia’s construction industry has experienced an 87 per cent increase in government-approved investment in the first five months of 2011 compared to the previous year.
Officials have approved 868 projects worth roughly US$505 million up to the end of May this year, up from the 889 projects worth US$270 million in the same period of 2010, according to figures just released from the Ministry of Land Management, Urban Planning, and Construction.
Despite the decrease in the number of projects approved, larger projects have more than made up for it in terms of revenue.
Construction projects of more than 3,000 square met-res have risen by 153 per cent, Construction Department director Lao Tip Seiha told the Phnom Penh Post. They included condominiums, garment factories, warehouses, oil and gas stations and markets, among other buildings, he said. “Even though we got fewer construction projects than last year, they are still large projects with big value,” Lao Tip Seiha said.
He also noted that the growth in investment had outpaced the hiring of new workers to service some of the projects.
At the same time, insiders have pointed to the rise in overall activity in the real estate sector. “There are a lot of transactions happening now, as investors look to buy and sell large properties in Phnom Penh and on the outskirts of the city,” Cambodia Properties Limited managing director Cheng Kheng said.
Total construction investment for 2010 reached US$840 million as a result of 2,149 projects in the Kingdom. Investment during the previous year had been significantly larger, as nearly US$2 billion had been spread across 2,230 projects, according to Construction Ministry data.
The National Bank of Cambodia’s 2010 annual supervision report shows lending to construction increased by 2.9 per cent in 2010 over the previous year, although overall lending increased by 25 per cent during that period.
8 comments:
The bulding contruction are very clear that Hun SEn goverment are welcome more Vietnameses from Vietnam for 99 years of Vietnamese ownership of Cambodia. Slowly the ratio of Vietnamese population is 50% of the total population because each Vietnamese people own a pice of Cambodia for at least 99 years from now on.
CPP are working very hard to make it happen to Nambodia province.
1:37 PM
why do you complain for...? We are just risen up from the ash of war. Do you think 33 years is so long it is like yesterday for us CPP.
Don't blame us, Cambodia is just risen up from the ash of war with empty hands!
I am fully agreed with SRP that Hun Sen is needing to resign for his incompetence as a democratic leaders.
After four elections, as Prime Minister of Cambodia;
1- he couldn't comply Democratic principle.
2- he couldn't read and fulfill his duty as a protector of Cambodian constitution,
3- he couldn't protect Cambodian forest, Cambodian sovereignty, Cambodian immigration, Cambodian public security, Cambodian taxation obligation.
4- he couldn't work with any opposition party as a multi-parties parliament.
5- he couldn't participate with political debate etc.. and etc...
Cambodian are very shameful to have this kind of man to lead their Nation in this 21'century.
Areak Prey
I totally agree with you,Areak Prey.
or 2:51PM
i want to see cambodia develop to a full capacity! keep constructing and buildings, cambodia.
10 years from now, phnom penh will be unrecognizable. more skyscrapers, please! and battambang and siem reap and sihanoukville, etc should have skyscrapers, too, you know!
please help build raiways in cambodia. railway is a good form of transportation for cambodia e.g. less traffic to the roadways, less expensive to maintain, etc, etc..., you know! cambodia needs and wants lots of railways in cambodia!
3:53 AM What about you?
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