Logo of Phnom Penh Post newspaper Phnom Penh Post - Construction: Residential approvals up in provinces

Construction: Residential approvals up in provinces

Construction: Residential approvals up in provinces

THE value of homes approved for construction outside Cambodia’s capital over the first nine months increased by less than 1 percent over the same period of last year.

The Ministry of Land Management, Urban Planning and Construction gave the green light to 1,184 residences worth US$221 million in the first nine months of 2010, a 0.77 percent increase on the 1,102 residences worth $219 million approved during the same period last year.

The world economic crisis hit Cambodia’s construction sector hard, but the slight increase in the value of home approvals was a sign the industry may be recovering, said Lao Tip Seiha, director at the ministry’s department of construction.

“It’s a positive sign there’s been a slight increase in residential home approvals, even though the economic downturn still affects the construction sector,” he said Sunday. Although the number of small residences was on the rise, nearly 70 percent fewer large construction projects were approved in the first nine months of 2010, compared to 2009, he said. A report from Ministry of Land Management, Urban Planning and Construction showed 1,718 large projects worth $508 million were approved in the first nine months.

MOST VIEWED

  • Government hits back at threats to pull EBA, suspend UN seat

    The spokesman for the ruling Cambodian People’s Party (CPP) has said the government is in no way concerned after the European Parliament gave it three months to reverse what it called the “systematic repression of the political opposition”. Ignoring the ultimatum could mean facing

  • Chinese influx pushing locals, Westerners out of Preah Sihanouk

    Some within the Kingdom’s tourism industry have speculated that the recent influx of Chinese visitors may hinder domestic tourism as the price of accommodations in the coastal city of Sihanoukville continues to rise. Preah Sihanouk province, which has become a hotbed for Chinese investment

  • Sar Kheng: Sokha requested security

    Interior Minister Sar Kheng on Sunday revealed the story behind the transfer of former opposition party leader Kem Sokha from Trapaing Phlong prison in Tbong Khmum province to his house in the capital. Speaking at the ruling Cambodian People’s Party (CPP) headquarters in Prey

  • ‘Dire consequences’ from sanctions, warns AmCham

    American businesspeople in Cambodia have warned that any sanction against the Kingdom would have “dire consequences” that could push Cambodia even further into the arms of China. In a letter to US senators and representatives dated Monday, the American Chamber of Commerce Cambodia (AmCham) said