INVESTMENT NEWS IN CAMBODIA

Friday, June 13, 2008
Everyday.com.kh
Translated from Khmer by Socheata

The Ream Resort French company plan to invest $250 million in the Ream area in Sihanoukville. The investment plan was presented by Alain Dupuis, president of the Ream Resort, to Hun Sen during a meeting on 12 June in (Hun Sen’s fortress in) Takhmao. Alain Dupuis told Hun Sen that his company will build the resort in Ream, at a cost of $250 million, and it will include a 5-star hotel, a town, lodging, golf course, beaches, and watercrafts, etc… Alain Dupuis said that this plan will start in the next dry season, and the project will be completed in 2010. Hun Sen welcomed the development plan and he asked the company to work with the Council for Development of Cambodia (CDC) for this investment to become successful.

Source: KI-Media

PHNOM PENH, Jun 12, 2008 (Xinhua) — South Korean investors will hold ground-breaking ceremony here next week for its 52-story skyscraper, the tallest building currently designed for Cambodia, said English-Khmer language newspaper the Mekong Times Friday.

GS Engineering and Construction, the largest real estate developer in South Korea, will take four years to complete the project near the Tonle Bassac River, the paper quoted Mu Hion Woo, its chief of business division in Cambodia, as saying.

The project will include a 52-story office block, a 32-story residential block, an international school and a shopping mall, he said.

“Which country has the most experience in developing satellite cities? The answer is South Korea. There are probably four or five such cities near Seoul,” he told the paper.

“But for us, it is business on one hand and a contribution to the development of Cambodia on the other. If you want to see the potential of Cambodia, you can see it in this project,” he added.

Currently, a second South Korean real estate developer is constructing a 42-story skyscraper of comprehensive functions in downtown Phnom Penh and a third one developing a satellite city in the suburb.

When all South Korean projects were accomplished, the skyline of the capital would be totally renewed, as it is now dominated by buildings only four- or five-storey high.

Source: (Xinhua)

A French-financed company will invest $250 million to develop the Ream area in Cambodia’s port city of Sihanoukville into a resort, according to Ieng Sophallet, assistant to Prime Minister Hun Sen, Friday.

Alain Dupuis, French citizen and director of the Ream Resort Development Company, met with Hun Sen Thursday to find support from the government for his project, he added. Khmer-language newspaper the Rsamei Kampuchea Friday quoted Alain as telling the premier that his company will construct five-star hotels, other accommodation facilities, golf course, leisure places along the beach and motor-boat sporting project for tourists in the Ream region.

The premier welcomed the investment and requested the company to work with the Council for Development of Cambodia to achieve success, it added. Construction of the project will start in late 2008 and be finished in 2010. Sihanoukville is Cambodia’s major sight-seeing destination. Sandy beach and clean sea used to attract tens of thousands of travelers annually.

Source: http://www.bbj.hu/main/news_40560_french+company+to+invest+%2524250+mln+to+develop+resort+in+cambodia.html