Construction Project Value Rises 27% So Far

The total value of construction projects in Cambodia rose to almost $5 billion in the first half of the year, an increase of 27 percent over the same period last year, according to data released by the Land Management Ministry on Friday.

A total of 1,523 construction projects worth $4.9 billion and covering 7.2 million square meters were approved from January to the end of last month, compared to 1,183 projects worth $3.8 billion given the green light over the same period last year, according to a post on the ministry’s website.

An overhead view of OCIC’s Olympia City construction site next to Olympic Stadium in Phnom Penh in 2016. (Siv Channa/The Cambodia Daily)

The projects ranged from skyscrapers in Phnom Penh to housing across the country.

In October, the World Bank highlighted the risks that come with the construction boom in an economic update on Cambodia, warning that “the construction and real-estate sector needs to be closely monitored in order to maintain macroeconomic stability.”

Spokesmen for the Land Management Ministry could not be reached for comment.

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