Compass Cambodia report - Investment in the construction sector in the first 11 months of 2021 was worth more than 5 billion US dollars, while throughout November, the number of construction projects increased by more than 300 projects. This is according to His Excellency Lao Tep Seiha, Secretary of State of the Ministry of Land Management, Urban Planning and Construction.
His Excellency Lao Tep Seiha told the media on December 20 that in the first 11 months of 2021, the Ministry of Land Management, Urban Planning and Construction and the Capital, Province, Municipality, District and Khan Administration have issued 3,925 construction permits. Construction of 12 million square meters, an increase of 327 projects compared to the previous month, which was 3,598 projects.
Investment in the construction sector from January to November amounted to 5,210,359,509 dollars, an increase of more than 300 million dollars, while from January to October, investment in this sector amounted to 4,876,804,899 Dollars.
Proposed projects include commercial buildings, market buildings, hotels, residential buildings, condominiums, flats, multifunctional buildings, industrial plants.
His Excellency Phan Phalla, Secretary of State of the Ministry of Economy and Finance, recently stated that the Covid-19 crisis has not significantly affected the real estate sector in 2021, as the sector is still doing well. The real estate sector is in three sectors that will boost Cambodia's economic growth in 2021.
"The real estate sector has seen better growth this year compared to the same period in 2020," he said. "Obviously for this year, despite the Covid-19 crisis, the real estate sector is still active, with many apartment complexes continuing to sell everywhere."
From 2005 to the first 11 months of 2021, the construction of high-rise buildings from 5 floors up to more than 2,375 buildings, of which more than 666 high-rise buildings in Sihanoukville.
Source: Compass Cambodia comprehensive arrangement
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