The Momentum of Housing Development Remains Strong by the End 2020

The Momentum of Housing Development Remains Strong by the End 2020 in Cambodia

Unlike other sectors that have been declining under the influence of the global crisis caused by the spread of Covid-19 disease, only the housing sector continues to grow and develop continuously to meet market demand.

Tycoon (Oknha) Nuon Rithy, CEO of Khmer Foundation Appraisal, the developer of Borey Kien Svay Park, said that on the morning of November 14, 2020, housing is the most urgent need for the general public and the growth of housing development now. Still not enough to meet the requirements yet.

“We see a lot of growth in housing construction right now, but in response to the question of whether the growth rate of construction is now more than the market demand, I said no and the demand is There is much more. “Speaking of urban areas, from year to year, the population is growing steadily. In fact, now the population of Phnom Penh is not less than 3 million people, which promotes the need for housing.”

Mr. Oknha continued, “The growth of housing construction, including Boreys and Borey-style housing units, is occurring in many suburbs, especially on National Roads 1, 6, 3 and 4. Rapid development activities. “These developments will continue to increase until the next five to 10 years.”

Similar to the above, PREMUIM Group CEO Man Chandy, who is also a housing developer, said, “With the current population growth, the demand for housing is about 50,000 units per year. “So year by year, the growth in housing numbers, as seen today, has not been able to meet demand.”

“Residential demand and a good market for affordable housing range from more than $ 50,000 to as much as $ 100,000,” he said. In the suburbs. “Most affordable housing is being built in the suburbs, such as the Kob Srov Dam in the southern part of the city in Dangkor district, near the Third Ring Road, and some on National Road 6A.”

According to the official economic growth trend report released by the Ministry of Economy and Finance in early November 2020, in just the first eight months of 2020, the number of applications for general construction across the country has increased steadily. To 3,350 projects, an increase of 455 projects on an area of ​​11.4 million square meters, down 4.8 percent and valued at 5.081 million US dollars, compared with the same period last year, down about 15.1 percent.

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