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May 03, 2011
Property-report.com
Construction projects approved by the Cambodia government more than doubled in the first quarter of 2011 compared to the same period last year, according to figures from the Ministry of Land Management, Urban Planning, and Construction.
Projects worth US$324 million were greenlit in the first three months of the year, The Phnom Penh Post reported, compared to US$159 of projects in Q1 2010.
The increase in approvales was due to the ministry’s efforts to make the property industry run smoother, Department of Construction Director Lao Tip Seiha said. “In three months of this year, we saw an increase in construction investors coming to ask for licenses,” he said, adding the same period last year had been “so quiet”.
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