{"id":2258,"date":"2016-01-22T12:52:35","date_gmt":"2016-01-22T05:52:35","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/construction-values-in-cambodia-reach-all-time-high\/"},"modified":"2016-01-22T13:50:37","modified_gmt":"2016-01-22T06:50:37","slug":"construction-values-in-cambodia-reach-all-time-high","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/construction-values-in-cambodia-reach-all-time-high\/","title":{"rendered":"Construction values in Cambodia reach all-time high"},"content":{"rendered":"


\n2015 was a record-breaking year
\nPhnom Penh\u2019s Chamkar Mon district | Image credit: Aria Danaparamita\/The Cambodia Daily
\nApproved construction projects in Cambodia in 2015 grew to an estimated value of USD3.33 billion, a 33 percent year-on-year increase from the previous year, according to the latest report released by the Ministry of Land Management, Urban Planning and Construction (MLMUPC).
\nThe Phnom Penh Post reports that the value of more than 2,300 approved projects last year, measuring up to 7.7 million sqm, surpassed the 2014 record of USD2.5 billion.
\n\u201cInvestors have confidence in the political and social stability of the country, especially since the Royal Government is focusing more on the construction industry,\u201d said Seng Lot, a spokesperson for MLMUPC.
\nMore: Cambodian residential market aims for a banner year
\nHe added that \u201cthe rapid growth in investment in 2015 is the result of economic growth which Cambodia has achieved over 7 percent in recent years, and we expect it to continue rising in the next few years.\u201d
\nAccording to the ministry, most construction projects can be found in Phnom Penh, Seam Reap, Sihanoukville and Kandal provinces.
\nChina is currently one of the major foreign investors in Cambodia, with 83 out of 135 registered Chinese companies reporting nearly USD946 million in property investments, including the 100-hectare Diamond Island mega-project.
\nDespite the economic slowdown on Mainland China, the inflow of construction capital seems to be unaffected. Per MLMUPC, Chinese investors have surpassed Korean companies, which previously dominated the industry.
\nMore: There\u2019s a new frontier for Cambodian real estate
\nThe MLMUPC will formally announce the construction industry\u2019s record-breaking year at the annual meeting in February, the month when the inaugural Cambodia Property Awards will be held.
\nSome industry experts are concerned, however, that announced projects may be outpacing actual demand for property in Cambodia.
\n\u201cI acknowledge that there are many construction projects, but the level of demand is unknown,\u201d Kang Chandararot, director of the Cambodia Institute of Development Study, told The Cambodian Daily.
\nThe economist noted that actual demand cannot be determined, and that developers should take into consideration the selling price of properties to appeal to many buyers.
\nOtherwise, \u201cI think this year there will be some disappointment,\u201d he added.
\nRead next: The winners and losers in ASEAN real estate in 2015
\n
\nSource : property-report.com
\nRead more…Construction values in Cambodia reach all-time high<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

2015 was a record-breaking year Phnom Penh\u2019s Chamkar Mon district | Image credit: Aria Danaparamita\/The...<\/p>\n","protected":false},"author":1,"featured_media":2259,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-2258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/01\/Phnom-Penh\u2019s-Chamkar-Mon-district_Aria-DanaparamitaThe-Cambodia-Daily.jpg?fit=740%2C493&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-Aq","jetpack-related-posts":[{"id":2725,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/who-made-the-shortlist-for-the-first-ever-cambodia-property-awards-2016\/","url_meta":{"origin":2258,"position":0},"title":"Who made the shortlist for the first-ever Cambodia Property Awards 2016?","date":"January 26, 2016","format":false,"excerpt":"\r The country\u2019s leading developers go head-to-head in the region\u2019s biggest real estate awards programme Nominees for the Cambodia installment of the Asia Property Awards, which rewards the region\u2019s finest real estate, were announced today, and include some of the country\u2019s most established and emerging developers and developments. 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