Cambodian Premier Optimistic about Real Estate Sector

Cambodia's Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen expressed his optimism over the real estate sector even though this year Cambodia will run the national election on July 29.

Addressing to a get-together with some 4,000 representatives of trade unions, education staff association and Cambodian People's Party (CPP) activists and the celebration of the 132nd Labour Day at Koh Pich Convention and Exhibition Centre in Phnom Penh yesterday, Samdech Techo Hun Sen, also President of CPP, said the real estate prices in the country have not dropped although the parliamentary election is approaching, which is different from the previous mandates.

After the dissolution of the opposition Cambodia National Rescue Party (CNRP), the property prices keep rising while everything is in a normal situation, he added.

The Premier underlined that most of the people have acknowledged that the situation is better after the CNRP was dissolved.

According to the National Bank of Cambodia, some US$3.91 billion was loaned out to the construction and real estate sectors last year, representing some 24.28 percent of the US$16.10 billion total loan portfolio for 2017. The loans for construction projects reached US$1.52 billion, personal home loans US$1.48 billion, and loans for real estate trade were valued at US$917 million.

Source: Agency Kampuchea Press