PM Hun Sen: house demands still on course amid COVID-19

• 22 June 2020
• Property Focus
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Cambodian people are still reportedly able to afford for buying houses at housing construction projects amid the COVID-19 pandemic. However, Cambodia’s economic growth this year projected to growth at the negative growth rate.

In a visit to inspect construction process of new Phnom Penh international airport on June 22, Samdech Techo Hun Sen, Prime Minister of Cambodia said that Cambodia’s economic growth for 2020 is projected to growth at -1.9 percent which is the worse growth in the last two decades due to COVID-19. Yet, currently, not a single company has announced bankruptcy on their investment or announced to suspend their construction processes.

Construction projects both government and private sector such as road, airports, and house construction projects have still continued as planned, Samdech Techo Hun Sen said.

“The firm here [new Phnom Penh airport] invests US$1.5 billion, this company has not yet talked about the shortage of investment budget and suspended construction process. We have other companies such as Peng Hout and Chip Mong companies, they are constructing their projects like what they did before COVID-19,” Samdech Hun Sen said.

He said that those big companies who met him had informed him that sales of house projects are still in the trend of growth, but less than before. It reflects Cambodian people affordability for buying houses amid COVID-19.

Not only construction of new Phnom Penh international airport still continues process amid COVID-19, but also all construction sites nationwide are also in development progress, he said.

New Phnom Penh International Airport is invested by Overseas Cambodia Investment Corporation (OCIC) over 2,600 hectares suited in Kandal province and Takeo province. The US$1.5 billion worth investment project is scheduled to commission in 2023.
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