Go Ahead and Build ? But Be Aware of Financial Term

• 31 December 2015
• Local News
• 1266 Views

The Cambodian building industry is flourishing and construction sites seem to pop up every day, especially in Phnom Penh. Private, public and foreign investment groups realize that now is the time to build and invest here. Labor and local materials are still considered cheap and accessible, which is good for the building industry. So yes, go ahead and join the investors, but watch out – there are many pitfalls that might turn your dream project into a nightmare./p>

Start by asking yourself some questions and make a list of all steps and phases of the project. Please don’t consider yourself an architect or engineer if you aren’t actually trained in the field. That kind of thinking will only bring you economic hardship.

For example, if you have an existing building you’re considering renovating, make sure you have structural engineers to provide a feasibility study.

You might end up doing expensive renovation work just to realize you actually need to demolish the whole building because the old structure was too weak. The same applies to new buildings. Make sure you have geotechnical engineers providing geological surveys to be sure how deep you need to sink your piles, and how many you’ll need.

I work at The Room Design Studio, which was established in 2007 in Phnom Penh, and we have been asked many, many times to change the design of projects which are nearly finished. As a designer, this is a nightmare!

Be unique! Spend some extra money and get high-quality design work and correct drawings before you put the shovel in the ground. You will more likely stick to the budget if you ask for these services than if you do not. It is not cheaper to build the wrong – demolish – build wrong again – and demolish again than to ask for professional services from the start. In the end, such a careless approach will mean a project takes longer to finish, and as we all know, time is money.

With all the construction around, there are far too many uncompleted projects as well. Don’t be surprised if they are at a standstill, and perhaps permanently dead, because the budget was completely unrealistic. So, please, let us professionals help you make your dream of having a functional, economical and eco-friendly building come true.

Phnom Penh is a fairly small town and people within the construction industry know each other. We actually meet once or twice every month just to keep everybody updated on what’s going on and what new projects are in the pipeline. We are a good group of colleagues and will be more than happy to assist you as an investor to make your project succeed and do so within a realistic budget.