Approved construction investment in Cambodia surged nearly 90% to $3.1 billion in the second quarter, according to new data, as “bullish” Chinese investors dominate a booming condominium market in Phnom Penh.
The preliminary approved investment figures draw from government data for April and forecasts by real estate firm CBRE, which released the numbers on Wednesday.
The figures show an 86% rise compared to the first three months of the year, with the $3.1 billion, split across 1,008 projects. The figures also include infrastructure projects, a sector dominated by China, which is providing Cambodia billions in loans to build roads, bridges, ports and airports.
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