Number of construction companies in Cambodia soars

Number of construction companies in Cambodia soars

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A billboard advertising a construction project. Photograph: Hong Menea/Phnom Penh Post

Construction and design companies that have registered for business in Cambodia have grown to number 1,205 at the end of 2012, according to an official at the Ministry of Land Management, Urban Planning and Construction.

Lav Tepseiha, deputy director of the construction department of the ministry said it is a large number, and is good for Cambodian construction.

“The construction sector in Cambodia has increased every year and it is continuing to boost the Kingdom’s real estate,” he said.​

There are 932 Cambodian and 273 foreign construction and design firms at the end of 2012, he said.

“I have noticed that foreign companies that invest the construction in Cambodia have climbed much more, especially in 2012, because they are looking for the potential of construction investment in Cambodia,” he said.

Foreign investors in Cambodia come from 16 countries: China, Korea, England, Japan, Russia, Lao, Malaysia, Taiwan, India, Vietnam, the United States, Singapore, Belgium, Australia and France. China is number one, South Korea number two and England third.

This growth is a good sign for Cambodia’s real estate, said Tepseiha. With the Kingdom’s political stability and rich human resources have come technical prowess, and specialist construction companies have sprung up.

“Companies will increase more and more next year because the number of proposed projects that are being submitted for permission continue to increase,” he added.

Key Real Estate Company CEO Soun Seap said that this growth is good for Cambodia’s economy.

Cambodia’s construction sector has increased due to economic and political stability, he said.

To contact the reporter on this story: Seun Son at [email protected]
 

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