High Buildings in Phnom Penh Mushrooming
AKP Phnom Penh, December 26, 2018 —
Buildings of four and five floors up are mushrooming across Phnom Penh, according to the press release issued recently by Ministry of Land Management, Urban Planning, and Construction.
By the close of 2018, buildings from four and five storeys have risen to 1,275 and 110, respectively, added the statement.
Sustained peace and political stability ensuring rapid economic growth of about 7 percent over the last two decades were credited for the sharp increase of the buildings.
In 2018, there were 2,867 approved construction projects of 11,427,181 square metres with an estimated investment capital of some US$5,229 million, while in the previous year, 3,052 projects of 10,746,219 square metres and US$6,429 million investment capital got licences from the ministry.
By Phal Sophanith