Increased residential, office and retail demand fueling rise in construction imports
Cambodia spent more than $414 million on imported construction materials to meet increasing demand in the local construction and property sectors last year – a rise of 7 per cent compared to 2012. According to officials and industry insiders, the increased value of imports reflected steady growth of the construction and property sectors. They also suggested that the improving numbers were evidence that both local and foreign confidence continued to be high when it came to investing in the property sector, despite some domestic turmoil in the wake of national elections. The Kingdom’s disputed election results in July of last year have continued to incite protests and some violence, but appear to have had little effect on business confidence or economic growth, which has remained steady. … According to government data, the ministry approved 1,641 projects covering a total area of 7.5 million square metres, and a total value of $2.8 billion in 2013, or an increase of 31 per cent year-on-year. In 2012 1,694 projects were approved, with a total area of 6.5 million square metres and total investment of $2.1 billion. …
