US$5.6 Billion Approved Investment in Cambodia & Property Development
Approved investments in Cambodia reached US$ 5.6 billion during the first nine months of the year a 305% increase compared to the same period the year before according to data from the Council of the Development of Cambodia (CDC). However it is important to consider that the information can be skewed from a very small number of very large investments such as in July when a fertilizer company from England called Nitrogen Chemicals and Fertilizer Ltd was approved for a US$2.2 billion investment.
Shukaku Erdos Hongjun Property Development Co which is a joint venture between China and the Cambodian firm Shukaku Inc was also approved a US$2.1 billion investment for a property development project on Boueng Kak Lake.
Of the 100 projects approved during the first nine months, 54 are in the garment sector and shoe manufacturing sectors. Hiroshi Suzuki, chief economist at the Business Research Institute for Cambodia commented “The increase in approval is very good news. The approval amount might take a few years to come…but it’s good because if the approval amount increases, that means the inflow will increase in the future.”
After the global economic crisis which impacted Cambodia in 2009 and 2010, Cambodia is showing strong signs of recovery in the real estate, property development and other agricultural and manufacturing industries. CBRE Cambodia continues to be at the forefront of the real estate market assisting many new entrants and established companies with their property needs in the Kingdom.