Strong Growth in Construction Project Driven by Residential Construction

• 31 July 2018
• Local News
• 1124 Views

Residential construction accounted for more than 80% of the total construction projects in the first half of 2018, according to the semi-annual report from National Bank of Cambodia (NBC).

In the first six months of 2018, construction projects totaled to1, 742 projects, an increase of 14% compared to the same period last year. Among the total projects, residential construction contributed 85.25%, commercial construction at 8.09%, tourism construction at 2.93%, public construction at 1.95% and industry construction at 1.78%.

The report has cited that the strong growth in residential construction is due to the shifting focus into affordable housing projects for the low and medium income buyers. Indeed, the affordable housing projects are designed to meet the housing demand of low and medium income residents as currently, nearly 9.8 million Cambodians need adequate resident.

Meanwhile, recently property developer B&BM Development Co., Ltd. has just launched official sales of affordable housing projects of more than 5,000 housing units. (Read more)

• Business and Market