Cambodia Construction Update: 2K Permits Issued in 7 Months, Valued at Nearly US$3 Billion

• 25 September 2023
• Local News
• 1296 Views

Cambodia’s construction sector is experiencing a remarkable surge as the Ministry of Land Management, Urban Planning, and Construction announces the issuance of 2,036 construction permits within the first seven months of 2023.

This surge in construction represents an impressive span of progress, covering a vast expanse of 8 million square metres and boasting a total investment capital of US$2.97 billion, as detailed in the ministry’s report.

Delving deeper into the construction narrative, data spanning from 2000 through the first seven months of 2023 paints a picture of astounding growth. During this period, a staggering 63,903 construction projects have been initiated, encompassing a vast territory of 181 million square metres. This monumental wave of construction has attracted a substantial investment capital of US$72.37 billion.

The construction frenzy has also redefined Cambodia’s skyline, with the report indicating the emergence of 2,609 high-rise buildings. These architectural marvels are distributed across the nation, with 1,718 gracing the capital, Phnom Penh, 693 enhancing Sihanoukville’s coastal vista, 155 adorning Banteay Meanchey, and 43 enriching various provinces.

In the realm of housing, Cambodia is experiencing a housing revolution, with 18,440 housing projects dotting the landscape. This collective effort has produced an astonishing floor area of 38.8 million square metres, accompanied by an investment capital of US$15.44 billion.

As Cambodia’s construction sector continues to flourish, these numbers underscore the nation’s remarkable potential for economic growth and development. The construction boom signifies not just the erection of buildings but the building of a brighter future for Cambodia and its people.

• Projects Development