ABSTRACT

Population Population 14.4 mn Urban population 18% Population under 15 35% Population 65 and over 4% Average annual growth rate (2004 to 2007) 1.9% Geography Land area 181,035 km2 Agricultural area 20% Capital city Phnom Penh Population of capital city 2 mn Economy Monetary unit Riels Exchange rate (average fourth quarter 2008) to: the pound sterling Riels 6,130 the US dollar Riels 4,126 the euro Riels 5,556 the yen x 100 Riels 4,520 Average annual inflation (2003 to 2007) 4.3% Inflation rate 5.9% Gross Domestic Product (GDP) Riels 35,039 bn GDP per capita Riels 2,440,000 Average annual real change in (GDP) (1998 to 2007) 9.4% Private consumption as a proportion of GDP 78.2% Public consumption as a proportion of GDP 5.7% Investment as a proportion of GDP 20.8% Construction Gross value of construction output N/A Net value of construction output Riels 2,338 bn Net value of construction output as a proportion of GDP 6.7%

THE CONSTRUCTION INDUSTRY

Construction Output

The net output of construction industry in 2007 was Riels 2,338 billion, equivalent to US$566 million, or 6.7% of GDP. The construction industry expanded rapidly since 1999 and the growth for 2007 was 17%. Construction is booming in Cambodia on a scale never seen before. The rocketing property prices in Phnom Penh have encouraged overseas developers to invest in golf courses, housing and condominium projects.