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

  • Gov’t exempts visa A and B holders from Covid fees

    Airline passengers who are diplomats and officials of international organisations holding Type A and B visas for travel to Cambodia are exempted from paying Covid-19 testing fees, said the Ministry of Health in its latest adjustment of rules on Wednesday. Health Minister Mam Bun Heng

  • All inbound flights set to face added scrutiny

    Ministry of Health spokesperson Or Vandine said on Monday that the ministry is monitoring all inbound flights, after it was announced that only those from Malaysia and Indonesia will be temporarily cancelled from August 1. Vandine said on Monday that the two countries were identified as

  • Flights from Indonesia, Malaysia cancelled

    A Ministry of Health official has warned of the possibility of Covid-19 spreading through community transmission after the total infected cases in the Kingdom rose to 225. Ministry spokeswoman Or Vandine told reporters on Saturday that the possibility of community transmission cannot be overlooked and that