Cambodia organizes real estate exhibition

 Souce:Xinhua Publish
By Jane B. Hatcher
Updated 08/04/2013

PHNOM PENH, April 8 — A 3-day Cambodia-Real Estate Exhibition 2013 kicked off here on Monday as the country’s construction sector is rapidly growing in the last couple of years.

The event, held at the Diamond Island Exhibition Center, brought together 68 exhibitors who are real estate developers, real estate investor banks, construction material manufacturers and suppliers, home product suppliers, real estate agencies, and architecture and engineering designers.

Speaking at the opening of the exhibition, Mao Thora, Secretary of State of the Ministry of Commerce, said the event reflected the progress of real estate sector in Cambodia.

“It would provide opportunities to real estate and construction investors to seek partners and potential customers for their products,” he said, adding that it would also be a venue for real estate and construction business executives to exchange experience and creativity in order to further develop the sector.

The country’s real estate and construction has seen a remarkable rise in the last two years after it was hard-hit by the global financial crisis in 2008.

The reports from the Ministry of Land Management, Urban Planning and Construction showed that the investments in the country’s real estate development had declined from 3.1 billion U. S. dollars in 2008 to 1.98 billion U.S. dollars in 2009 and further drop to 840 million U.S. dollars in 2010.

However, the sector bounced back in 2011 to 1.2 billion U.S. dollars and further grew to 2.1 billion U.S. dollars in 2012.