Cambodia issued licenses to 3,176 construction projects, with investments of $1.96 billion as of September, a senior official said on Thursday.
Leang Monirith said most foreign investors in the kingdom’s construction and real estate are from China, South Korea and Japan.
“Over the last decade, investment in construction has grown steadily, Monirith, Secretary of State at the Ministry of Land Management, Urban Planning and Construction, said.
“And it will continue to grow, especially in the construction of high-rise buildings.
Such high-rise buildings expected to rise are condominiums, shopping malls, business centres, office buildings and hotels.
“Others are multi-purpose buildings, schools, hospitals and banks among others,” he said at a construction expo in the capital Phnom Penh.
The official attributed the progress to strong confidence from investors in the country’s peace, security, political and economic stability.
Construction is one of the four pillars supporting the Southeast Asian nation’s economy.
Three other sectors are garment export, tourism and agriculture.
According to the ministry, the kingdom had 2,472 high-rise buildings in 482 locations of new towns and residential complexes, in the capital.
The high-rises are between five floors and 40 floors) (Xinhua)
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