Phnom Penh Approves Over 1,000 Construction Projects Valued at US$600m in 2022

• Sommana Yan
• 11 March 2023
• Local News
• 1634 Views

According to the 2022 annual report on the performance of the Phnom Penh Capital Administration, more than 1,000 construction projects worth a total of US$600m were approved in Phnom Penh in 2022. The report stated that 1,139 construction projects were granted permits, covering a total area of 1,215,988 square metres. 

The number of approved projects increased by 8.47% compared to the previous year, although the investment capital decreased by about 66.42%. In 2021, the Phnom Penh Municipal Authority approved 1,050 construction projects with a total construction area of 3,752,009 square metres and an investment capital of US$1,800,800,053. 

Although the construction area decreased, there were more than 89 construction projects in 2022. The decrease in the construction area may be due to the government’s efforts to improve urban planning and land management. Despite the reduction in investment capital, the number of approved construction projects in Phnom Penh indicates continued growth and development in the city’s real estate sector. 

Phnom Penh continues to attract both domestic and foreign investors, and the approval of these construction projects indicates that the city is positioning itself as a hub for real estate development and investment. 

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