Cambodia sees rise in approved real estate projects

Phnom Penh – Cambodia approved more than 2.7 billion U.S. dollars worth of real estate projects during the first four months of 2019, a sharp 67.3 percent increase, local media reported on Monday, citing a senior official.

Lao Tipseiha, secretary of state at the ministry of land management, urban planning and construction, said growth in the sector from January to April has been remarkable owing to political and social stability, national economic growth as well as rising incomes and foreign investment.

He said during the four-month period, a total of 1,420 projects were greenlighted, a significant increase compared to the 1,171 projects approved from January to April last year.

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