Phnom Penh (FN), July 14 - Throughout the first six months of 2017, a total of 1,523 construction projects, worth nearly $5 billion, were approved.

The approvals reflect an increase of 27.44%  when compared to 2016, according to Lao Tipseiha, Under Secretary of State of Ministry of Land Management and Construction.  

Lao Tipseiha said the projects cover more than 7 million square meters, including 14 satellite cities and 43 low-rise buildings.

The increase is largely due to foreign investment from 18 countries. Over the last 17 years, foreign investment has funded 309 projects.

For the first six months of 2017, the projects and construction companies registered 1,006 designs.

In the first six months of 2016, both the sub-national and provincial-level authorities provided 1,183 construction permits.