Construction Investment Drops 18.6% in 2018

PHNOM PENH, Dec. 24 (Xinhua) — Cambodia’s construction sector attracted a total investment of 5.22 billion U.S. dollars in 2018, down 18.6 percent from 2017, according to an official report on Monday.

Released by the Ministry of Land Management, Urban Planning and Construction, the report said the ministry had granted licenses to 2,867 construction projects on a total area of 11.4 million square meters this year.

Currently, Phnom Penh, capital of Cambodia, has 1,217 high-rise buildings (between five and 54 floors) and 235 locations of new towns and residential complexes, it said.

About 928 construction and home design companies are operating in the Southeast Asian country, creating some 220,000 jobs, it added.

Construction is one of the four pillars supporting the Cambodian economy. Other three are garment industry, tourism and agriculture.

*Note construction investment for 2017 was $5.63 billion, which was a 22% leap on 2016.

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