Cambodia Issues Nearly 70,000 Construction Permits Worth USD 78.96 Billion in 24 Years

• webmaster@construction-property.com
• 28 November 2024
• Uncategorized
• 1226 Views

In a remarkable achievement for Cambodia’s construction sector, the Cambodian government has issued 67,696 construction permits over the past 24 years, representing projects valued at approximately USD 78.96 billion. These projects cover a combined area of 199,455,440 square meters, according to the Ministry of Land Management, Urban Planning, and Construction’s report shared at a conference on 26 November 2024.

The report highlights that in 2024 alone, authorities granted permits for 2,622 new projects spanning a total area of 10,447,042 square meters and valued at an estimated USD 4,334,486,754. This marks a decline of 15.17% compared to 2023, which saw 2,924 projects covering 12,335,043 square meters with a combined investment of USD 5,109,471,022. Despite this decrease, the figures reflect ongoing activity and confidence in Cambodia’s construction sector.

Over the years, permits were also issued for 2,800 construction sites, alongside approvals for 1,344 closures and 228 renovation projects. Furthermore, the government has granted occupancy certificates for 109 projects, totaling 335 certificates, underscoring the sector’s progress in formalizing construction and occupancy regulations.

This consistent activity demonstrates Cambodia’s expanding infrastructure capacity and highlights its growing appeal to construction and real estate investors. With nearly USD 79 billion in investments recorded over two decades, the construction industry remains vital to the nation’s economic development trajectory.

• Projects Development