Phnom Penh: Construction projects and investment in the construction sector in Cambodia, which is in a state of calm under the influence of the economic crisis caused by Covid-19 since the beginning of 2020, has been predicted by experts in this field to be recovered in the third quarter or late 2021 if the use of the Covid-19 vaccine is more widespread and effective in both other countries and in Cambodia.
Mrs. Ann Sothida, managing director of CBRE Cambodia, said on the morning of March 8, 2021 that if Covid-19 is under control, especially the effectiveness of vaccines spread widely, the investment activities and the construction sector in Cambodia are expected to grow gradually by the end of 2021, mostly from local investors and developers.
“All the development and construction activities that will be revealed by the end of 2021 are mostly projects and investment capital that have been proposed to Cambodia since the previous year, not just in 2021,” she said. “We acknowledge that some new investment activities and ventures may occur in 2021, but most of these new projects are the activities of local investors, with a small percentage increase in the construction sector compared to the existing investment from abroad.
Mr. Chrek Soknim, President of Cambodia Valuers and Estate Agents Association, recently said that in 2021, most of the investment activities in the construction sector are the activities of local people, but the inflow of foreign capital is minimal.
“The current economic crisis is affecting every country, affecting all investment projects. But after the crisis is over, investment projects will start to resume, and in my opinion, if the epidemic crisis ends by the end of this year, investment activities in the construction sector may begin earlier or later 2022, “ he said.