Summary
A government working group charged with reviving investment in Sihanoukville reviewed 14 investment and business projects worth more than $237 million on 27 October, according to Khmer Times. The projects are expected to create about 2,700 jobs, according to Khmer Times.
According to Khmer Times, the Working Group for the Special Programme to Promote Investment in Preah Sihanouk Province said it had approved investment incentives and facilitated procedures for 511 projects between 2024 and October 2026, with a combined estimated value of $8.5 billion. Of those, 218 involve stalled or unfinished buildings, according to Khmer Times.
What was reviewed
The 14 proposals cover multifunctional buildings, hotels, industrial parks and bonded warehouses, as well as factories making plywood, glue and medical equipment, according to Khmer Times. They were considered at the working group's 28th meeting, chaired by Hean Sahib, a Ministry of Economy and Finance secretary of state and adviser to Prime Minister Hun Manet. Representatives of ministries, the Preah Sihanouk provincial administration and technical officials attended.
The programme since 2024
The working group's 511 approved projects since 2024 break down as follows, according to figures it released as reported by Khmer Times:
- 218 projects involving stalled buildings
- 252 new projects, or projects unrelated to stalled buildings
- 26 expansion projects
- 15 existing projects
The projects are expected to generate more than 60,000 jobs, the working group said, according to Khmer Times. Hean Sahib described the programme as a one-stop service offering special incentives, procedural assistance, advisory services and investment aftercare. It is aimed at stalled buildings and at projects in industry, agriculture and tourism.
For the rest of the programme, the working group plans to review its progress in 2026, update the status of projects that have received incentives, and identify implementation problems, Hean Sahib said.
What this means for Cambodia
Unfinished buildings have been one of the most visible features of Sihanoukville's property market. The working group's figures, as reported by Khmer Times, show that stalled buildings account for 218 of the 511 projects it has backed since 2024, around 43%. The figures describe approvals and facilitated procedures, not completed buildings, and the working group has not published how many of the revived projects are finished. For buyers and investors, the programme means a stalled building may now have a route to completion, but an approval is not a completion date.
What to do next
- Before buying in a building that was stalled, ask the developer for its current construction permit and a written completion schedule.
- Ask whether the project has received incentives under the Preah Sihanouk programme, and check the developer's status with the provincial administration.
- Find and list Cambodia property on ProprKey: proprkey.com/en/onboarding