The total value of construction project investment in Cambodia rose more than 100 per cent during the first half of 2013 compared with the same period a year ago, according to Im Chhun Lim, the head of the Ministry of Land Management, Urban Planning and Construction.

Lim, whose comments came at the opening of a three-day construction exhibition in Phnom Penh yesterday, said the value of the building sector reached nearly $2 billion from January to June, up from $870 million year-on-year.

“It has been noted that construction investment has increased sharply in the recent years. This means that we have a peaceful and good investment climate for the investors."

Pung Kheav Se, chairman of the Cambodia Constructors Association (CCA), said the sector is seeing growth through injections of local and foreign capital, and the funds will help the industry modernise and apply uniform standards.

“In Phnom Penh, we can see all kinds of modern high-rise buildings with quality high-tech equipment on a par with developed countries,” he said.

On Friday, Hong Kong-based Hongkong Land broke ground on a $100 million 20-storey building in the heart of the city near Wat Phnom.