Cambodia Approves Over 1,600 Construction Projects in H1 2024 Amid Declining Investments

• Sommana Yan
• 9 August 2024
• Local News
• 1933 Views

In the first half of 2024, Cambodia’s Ministry of Land Management, Urban Planning and Construction greenlit 1,642 construction projects, marking an 11% decrease from the same period last year.

The approved projects span a total area of 6.14 million square metres, representing a 9.8% decline, with investment capital totalling US$2.53 billion, down 8.1%, according to a Socio-Economic Trend Report from the Ministry of Economy and Finance.

Of the projects approved, 1,346 are housing developments, including 1,298 boreys and 48 condominium projects. Additionally, 115 industrial, 105 commercial, 26 tourism, and 49 public construction and investment projects were authorised.

In June alone, 321 projects received the go-ahead, a 35% increase, covering 1.868 million square meters—a 36% rise—requiring an investment of US$725 million. This uptick in June contrasts with the overall downward trend observed in the first half of the year.

This data underscores the fluctuating dynamics within Cambodia’s construction sector, reflecting broader economic challenges while hinting at resilient pockets of growth in specific months.

 

• Projects Development