PHNOM PENH: As a senior official of the Royal Government of Cambodia, Lt. Gen. Hun Manet stated that the continued growth of the real estate sector is an important goal of the Royal Government's policy, set according to the vision of Prime Minister Hun Sen.

Speaking at the official opening ceremony of the "Meanchey Residence" project of Rose Marvel Property Development Co., Ltd on Friday, 17 February 2023 in Phnom Penh, Lt. Gen. Hun Manet stated that the recovery of the real estate sector in the Cambodian economy reflects an improvement in the living standards of the Cambodian people. In particular, he said it reflects an increase in the middle-income population, as well as the demand for comfortable housing and good living environments.

This includes the creation of public spaces and parks, maintenance of green spaces, the provision of waste management services, the consideration of traffic flow, the consideration of comfort for children and the elderly, and the proximity to daily needs such as hospitals, schools and public parks for physical and mental relaxation.

He added that forecasts for Cambodia's economic growth show that the real estate sector will continue to play an important role in boosting national economic growth, just as it has in the past.

According to Lt. Gen. Hun Manet, while Cambodia is still recovering from the effects of the Covid-19 pandemic, Cambodia is forecast to return to full economic growth, which the Ministry of Economy and Finance project to be around 5.2% in 2022, and about 5.6% in 2023.