Investment in Cambodia’s booming construction industry increased by 43.3 per cent over the first four months of the year compared to the same period last year, according to data released by the Land Management Ministry.
A total of 1,020 new construction projects worth about $4 billion—and covering 5.6 million square meters—were approved from January to the end of last month, compared to 712 projects worth $2.8 billion approved during the same period last year, says the report, which was posted to the ministry’s website.
New Development Projects have taken place in Sihanoukville, including D’Seaview, Sunshine Bay and Blue Bay Condominium. The Six Senses Hotels Resorts Spas will also open a new resort in Khos Krabey Island, off the coast of Ream National Park in Sihanoukville by the end of 2017. More recently, a Chinese-based consortium announced plans to establish a US$3 billion resort centre in the Cambodia Golden Silver Gulf Resort project in Sihanoukville.
An automated gateway transit (AGT) system has been proposed, that will connect Phnom Penh’s city centre to the Phnom Penh International Airport and Phnom Penh Special Economic Zone. The electrically powered AGT is designed to carry up to 30 passengers per train and can run at a speed of 60km per hour. According to the Cambodian government, construction of the AGT is targeted for completion by 2023, with Phnom Penh scheduled to host the Southeast Asian Games.