According to the latest report from the Cambodian Constructions Association (CCA), Sihanoukville has experienced a remarkable surge in high-rise buildings in recent years, with a total of 1,006 structures encompassing 902 projects.
The coastal city has been a hub of construction activity, but the report also highlights that 614 projects are currently stalled, awaiting resolution by stakeholders. Among these, 359 buildings are suspended from construction activities, equivalent to 336 projects, while 255 completed buildings are unable to commence business operations, equivalent to 221 projects.
Despite these challenges, there are still positive signs of progress, with 89 buildings currently under construction across 61 projects. Additionally, 303 completed buildings are operational across 284 projects.
In addition, to address the issue of stagnant investment projects in Sihanoukville, the government has recently launched a comprehensive package of measures aimed at boosting investment confidence and stimulating market demand in the short, medium, and long term. These measures will be rolled out in stages, starting from April-May 2023, with a focus on identifying and resolving the issues faced by stuck investment projects.
In a letter dated 23rd February 2023, the Ministry of Economy and Finance (letter No. 1438 MEFL) has expressed the government's unwavering commitment to resolving the challenges faced by these stalled projects and reviving the construction and business sectors in Sihanoukville. The measures include close coordination among relevant stakeholders, streamlining administrative processes, providing necessary support, and engaging with investors to find mutually beneficial solutions.
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