Construction Investment over US$1.6 Billion for First 9 Months

Written by DAP NEWS -- Tuesday, 27 October 2009

(Posted by CAAI News Media)

Cambodia’s Ministry of Land Management, Urbanization and Construction announced on Monday that investment in construction and real estate in country totalled nearly US$1.679 billion for the nine months of this year.

“We have checked and provided permission to construct the buildings with 83 projects that were worth about US$1.459 billion covering 4,882,773 square meters,” the ministry said. “If we compare with the same period with last year, investment decreased 26.42 percent.”

Phnom Penh has 1,722 projects, including 620 illegal construction projects, that cover 776,189 square meters and are worth over US$219 million. This represents a decrease of 22 percent compared to the same period of last year.

The ministry provided 128 licenses to construction companies, an increase of 16 companies year-on-year. “In total, we have 819 construction com- panies making business in Cambodia, 653 local companies and 166 foreign companies.”

Cambodia has signed MoUs on construction cooperation with South Korea and Vietnam.