2014 Construction Permits Top Us$2 Billion

• 31 December 2015
• Local News
• 1107 Views

The Ministry of Land Management, Urban Planning and Construction announced in November that more than US$2 billion worth of Cambodian construction projects had been issued permits in the first nine months of 2014.

Construction Department Deputy General Director Lao Tip Seiha told the Phnom Penh Post that permits for 1,478 construction projects worth US$2.03 billion had been issued compared to total investment in the construction sector of US$2.77 billion in 2013.

“Investment in the construction sector has improved, especially residential construction,” Seiha said. “Many residential developers sought construction permission in 2014 as property transactions saw strong growth. The investment capital in the construction sector will continue to increase in the whole year 2014 because many big residential developers are asking for construction permission from the ministry,” he said.