Construction in context of COVID-19 stable for Q1 2020, says MLMUPC

• Sommana Yan
• 21 March 2020
• Uncategorized
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A spokesman for the Ministry of Land Management, Urban Planning and Construction, H.E. Seng Lot, said that the construction sector in Cambodia in the context of COVID-19 has not decreased. The statistic was announced during a press conference on “Progress and Continuing Direction of the Ministry of Land Management, Urban Planning and Construction” at the Office of the Council of Ministers on 16 March 2020.

There has been no decrease in the applications for construction permits at the Ministry of Land Management, Urban Planning and Construction by the end of February 2020, he stressed.

According to the report of February 2020, the Ministry had received 523 applications compared to February 2019, which saw only slightly more than 300 applications, while investment capital has almost doubled. But from March, the ministry will continue to monitor this work, H.E. continued.

H.E. added that the increase in the construction sector is due to the investment of foreign companies from 18 countries. By ranking of countries investing in the construction sector, first is China following by Korea and Japan in third. Foreign investments are mostly housing complexes,​ with more than 2,300 units including nearly 2,000 high-rise buildings and more than 1,000 hotels.

The majority of local investments are especially in boreys or flats over 327 locations.

The same report also showed that investment capital in the construction sector was more than US$11 billion in 2019 compared to US$566 million in 2018, thus showing a year-on-year increase of almost 100%.

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