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PHNOM PENH – The past five or six months after Cambodia was affected by the disease, experts say The Kingdom's construction and real estate sector has been affected at an average level, but it has not reached a critical level However, according to the Ministry of Economy and Finance's draft 2021 macroeconomic and financial policy framework, Predictions for growth in these sub-sectors have been weakening ever since.
“I see the construction sector now,” said Chro Soknim, president and president of the Cambodian Association of Valuers and Realtors. This is having a short-term impact. But to this day, I look at the momentum you need to get started.
According to the expert in the Cambodian real estate industry, there is generally a growth rate between 10 and 15% It does not go up, it does not look so much at the moment.
Over the past five to six months, Cambodia's economy has been affected by the disease, but only for a second time. In the construction and real estate sector, Mr. Soknim said, “It is getting worse now because Some work, especially some development projects, has not been implemented.
Some of the project owners are continuing their old projects that were affected. But to get into a serious crisis, it's not over yet. I see the construction and real estate sector in Cambodia having a moderate impact. ”
"The crisis of Kov-19 is affecting the construction and real estate sector in terms of the number of Purchases were much lower compared to the same period last year. So it is a sign that we are affected or a challenge for us. "But if the Kov-19 is worth the price, I can't see it."
According to the Ministry of Economy and Finance's Framework 2021 Macroeconomic Policy Framework Is forecast to have a negative growth of 5.3% in 2020 and is expected to rebound with a slow growth of 3.3% % By 2021
Sources predict that by 2020, the sub-sector has experienced the worst decline since the global financial crisis 2008-2009, caused by expectations of a decline in foreign investment, especially from China, and demand. Buildings for tourism and trade, as well as a decline in domestic investment confidence due to the spread of the Kovi-19 epidemic.
By 2021, the sub-sector is expected to rebound at a lower rate, as it needs time to restore confidence. For investors. At the same time, the sub-sector is dependent on external investment, thus negatively impacting the Kovud-19 crisis and problems Any impediment to global growth would pose a risk to the construction sub-sector in Cambodia.
In this regard, the Royal Government of Cambodia will closely monitor and conduct in-depth study on the evolution of the sub-sector and Real estate in Cambodia to put in place timely intervention policies to avoid potential risks.
If the above macroeconomic framework is drafted, the real estate sub-sector is projected to have a negative growth rate of 5, 1% by 2020 and expected to recover with a low growth rate of 2.6% by 2021. By 2021, the real estate sub-sector is expected to rebound lower due to slower growth prospects Of foreign investment and economic activity, both domestic and foreign, which stimulate real estate activity and domestic demand.