Construction Investment Rises Steeply

• Proeksa Meas
• 4 October 2016
• Uncategorized
• 1819 Views

Investment in the construction sector rose steeply by 719 percent to a reported value of USD7.1 billion in the first seven months of 2016 compared to the same period last year, according to the Ministry of Land Management, Urban Planning, and Construction (MLMUPC).

Lao Tip Seiha, undersecretary of state at MLMUPC told the Phnom Penh Post that 1,500 projects had been approved since January, and that the increase had partly come “due to the stability of economy growth, political stability, increased income, and confidence in the quality and security of buildings.”

Amid concerns of the sector reaching its peak investment, some experts have also pointed out that many of these projects are not likely to be completed in the short term.