The total value of construction projects in Cambodia rose to $4.9 billion in the first half of the year, an increase of 27 percent over the same period last year, according to data released on Friday by the Land Management Ministry.
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 during the same period last year, according to a post on the ministry’s website.
Construction sites in Phnom Penh, photograph posted on the Land Management Ministry’s website.The projects included everything from skyscrapers in Phnom Penh to housing across the country.
In October, the World Bank released an economic update on Cambodia, highlighting the risks that come with the construction boom and saying 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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