A view of Sihanoukville during the 2025 Khmer New Year celebrations. Many unfinished buildings can be seen. Preah Sihanouk Provincial Administration
The investment and construction sectors in Preah Sihanouk Province are expected to see significant improvement following the approval of 287 investment projects, with a total estimated capital of nearly $7 billion. The projects have been granted special policy incentives by the Cambodian government, under the “Special Investment Promotion Program in Preah Sihanouk Province” framework.
The projects were approved during the 15th meeting of the Working Group for Promoting Investment in Preah Sihanouk Province. The April 9 meeting was held at Ministry of Economy and Finance headquarters, and led by Hean Sahib, ministry secretary of state and chairman of the working group.
An April 17 press release from the General Department of Taxation, explained that during the meeting, the decision was made in principle to grant special incentives to 18 projects, which include 5 stalled construction projects and 13 new projects, with an estimated total investment capital of $205 million.
The projects are expected to create around 2,916 jobs and include factories, waste treatment, paper production, office buildings, co-living spaces and hotels, among other initiatives.
“As of mid-April 2025, the Working Group for Promoting Investment in Preah Sihanouk Province has approved in principle special incentives for a total of 287 projects, with an estimated total investment of $6.875 billion,” added the statement.
A view of Sihanoukville during the 2025 Khmer New Year celebrations. Many unfinished buildings can be seen. Preah Sihanouk Provincial Administration
Preah Sihanouk has been prioritised by the government for accelerated development, with the aim of transforming it into a multi-purpose model special economic zone and a key economic hub to drive Cambodia’s overall economic growth.
To achieve this strategic objective, the government launched the special investment programme in early 2024. The programme offers a range of incentives, preferences and streamlined procedures, including tax incentives, to attract and support investment in the province.
Four types of investment projects and business activities are eligible: Stalled construction projects, projects that can begin implementation in 2024, the expansion of existing projects and existing investments or businesses.
Those approved will be eligible for tax incentives, including exemptions from major types of taxes and fees, waiver of registration service charges, simplified tax filing procedures through phased packages, exemption from administrative penalties in tax audits and government-covered taxes for the production and/or promotion of tourism products and destinations within Preah Sihanouk.
Before 2019, especially prior to the emergence of Covid-19 and a ban on online gambling, the construction and investment landscape in Preah Sihanouk saw a major boom, with high-rise buildings and numerous businesses appearing successively. Most of the investors at that time were from China.
A view of Sihanoukville during the 2025 Khmer New Year celebrations. Many unfinished buildings can be seen. Preah Sihanouk Provincial Administration
However, the global health crisis and an economic downturn had a strong negative impact on investment in the province.
Oem Senghou, branch manager of Century 21 Zillion Holding in Sihanoukville, told The Post that real estate buying, selling and rental activity saw a 15-20% increase in the first quarter of 2025, when compared to last year.
He believed that the government’s policy of promoting and supporting investment in the province has played a significant role in reviving the real estate, construction and other business sectors.
“The government’s ‘Special Investment Promotion Program in Preah Sihanouk Province’ is producing many positive outcomes across all involved sectors — whether it’s property owners, sellers, buyers or renters,” he noted.
According to Senghou, the real estate in Sangkats (districts) 3 and 4 of Preah Sihanouk, which are located along the coastline, currently have the highest property prices, ranging between $3,500 and $4,500 per square metre.
