Experts see recovery in compensation sector as investment in sector reaches $ 5 billion in first 10 months

Experts see a recovery in the construction sector, as in the first 10 months of this year, the Ministry of Land Management, Urban Planning and Construction issued nearly 3,000 construction permits nationwide with an investment of about $ 5 billion.

According to a report from the Ministry of Land Management, Urban Planning and Construction, there are 146 high-rise buildings with 5 floors or more, of which 154 are residential projects and housing units are 79 projects equal to nearly 20,000 units, and construction of 18 multi-functional buildings, with investment doubled compared to the same period in 2022.

Achievements in the construction and other sectors across the country can be achieved due to the country's peace, political stability, social security, national independence, assurance of national sovereignty, and macroeconomic stability, which gives confidence to both domestic and foreign investors to promote the development of the nation to continue to grow steadily in all fields, as well as to continue to improve the living standards of the people and enhance the national prestige on the international stage.

Neak Oknha Pung Kheav Se, President of the Cambodian Builders Association at the Cambodia International Construction Industry Fair, said that the construction and real estate sectors, which have contributed to the national economic growth, have gradually recovered, especially through the new 7th National Assembly of the Royal Government also supported and pushed for solutions to some of the stalemates and suspended construction in the past due to the Covid crisis, which has weakened the global economy.