Logo of Phnom Penh Post newspaper Phnom Penh Post - Big money projects brighten prospects for PP construction



Big money projects brighten prospects for PP construction

Content image - Phnom Penh Post
The capital welcomed 583 investment projects worth $1.37 billion during the first five months of the year. YOUSOS APDOULRASHIM

Big money projects brighten prospects for PP construction

Phnom Penh welcomed 583 investment projects worth $1.37 billion during the first five months of the year despite the Covid-19 pandemic’s impact on the construction sector, Municipal Department of Land Management, Urban Planning and Construction director Sarin Vanna told a press conference on Tuesday.

At the press conference, titled Progress and Continuing Direction of Phnom Penh Municipal Administration, Vanna said the 583 projects cover a total of 2.88 million sqm.

He admitted that the Covid-19 crisis had deterred foreign investors from investing in construction in Cambodia.

Content image - Phnom Penh Post
Municipal Department of Land Management, Urban Planning and Construction director Sarin Vanna said at a press conference on Tuesday. Hean Rangsey

Cambodia Constructors Association general manager and secretary Chiv Sivpheng told The Post on Wednesday that although the pandemic has stalled some construction projects in Phnom Penh, major projects are continuing as usual.

He added that the acquisition of new construction projects underscores the confidence and interest of investors in Cambodia’s economic and political situation.

“Economic growth will continue to boost Cambodia’s construction sector. Large and tall buildings will spring up in even greater numbers across Phnom Penh,” said Sivpheng.

Without citing specific figures, he said he did not believe that the number of construction permit applications dropped in the first five months of the year from last year.

Keller Williams (KW) Sen Sok regional operation principal Sam Soknoeun said the capital’s construction sector is not as vibrant as last year, but there will be a sharp rebound once the world can contain the Covid-19 epidemic.

He added that with the government’s open policy towards foreign investment, the Kingdom will see an influx of foreign funds after the end of the crisis.

“The array of projects approved in Phnom Penh and the range of their prices are vast, and construction may see a strong rebound by the end of the year,” he said.

Vanna said there are currently 1,292 buildings in the capital that are at least five storeys tall, as well as 244 gated-community project sites.

MOST VIEWED

  • Cambodia unveils new quarantine regulations

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Cambodia sets new Covid-19 quarantine rules

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Hun Sen: Cambodia set to fully reopen

    Prime Minister Hun Sen concludes that the October 5-7 Pchum Ben public holiday, during which many people either flocked to their hometowns for family reunion or gathered at tourist attractions across the country, has not caused an outbreak of Covid-19. In a special address to

  • Will Evergrande change the way Chinese developers do business in Cambodia?

    China’s property sector policy has exposed the grim financial condition of real estate developers including those operating in Cambodia, which raises questions over the viability of their projects and business going forward The dark blue netting draping over one of Yuetai Group Co Ltd’

  • Cambodia resumes issuance of tourist visas

    The Ministry of Foreign Affairs and International Cooperation has announced the resumption of its tourist visa and visa exemption programme after a long hiatus due to the Covid-19 pandemic. In a letter dated October 20 and addressed to foreign embassies and consulates, foreign minister Prak Sokhonn

  • Cambodia voted ‘world’s friendliest country’ in Rough Guides reader poll

    Cambodia ranked number one among the “World’s Friendliest Countries”, according to a reader poll conducted by London-based international website “Rough Guides”. Taking submissions through Twitter and Facebook, “Rough Guides”, a well-known travel agency and publisher of guidebooks, said the Kingdom “was by far the