Expert Says Four Locations Seeing Strong Construction Growth in 2019

• 9 July 2019
• Local News
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With the Ministry of Land Management Urban Planning and Construction (MLMUPC) projecting that construction is expected to increase sharply in 2019 compared to 2018, an industry expert has identified four areas in Cambodia seeing strong growth.

With more than US$2.7 billion construction investment approved in the first five months of 2019, real estate expert and founder of Key Real Estate Mr Sorn Seap said that Sihanoukville, Bavet city, Poipet city, and Phnom Penh are the main drivers of growth in the construction sector.

“We see that in 2019 the increase is strong compared to 2018, and in this construction sector, we see a lot of construction in the new areas, especially in Kompong Som [Sihanoukville], Bavet, Poipet, and in Phnom Penh,” Mr Sorn said, “in Phnom Penh, we see there is a mix in construction including condominiums, hotels, office and general construction”.

For the development in Bavet and Poipet, Mr Sorn Seap said that most of the constructions were to serve the logistic services.

“In Bavet and Poipet we saw that the construction is to supply for the transportation service, which makes construction rise for hotels, restaurants, and warehouses,” he said.

But for the construction in Sihanoukville, despite the sharp rise, Mr Sorn Seap said there are not many options for tourists.

“If we look into Sihanoukville, the growth, as we all know, is for a lot of hotels and casinos because we see that more Chinese tourists come, but there is no place to sleep, no entertainment, no options, so they [developer] make for Chinese tourists mostly,” he said.

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