The Preah Sihanouk provincial authority and private sector has welcomed a $48.7 million investment in a new five-star hotel, which observers note will better equip the province to serve tourist arrivals in the years to come.
Cambodia put a halt to plans for a $350 million non-gaming integrated resort (IR) in Siem Reap province dubbed “Angkor Lake of Wonder” (ALOW), to be developed by Hong Kong-listed NagaCorp Ltd (Naga), the parent company of local casino operator NagaWorld Ltd.
The government on March 22 issued a plea to developers of borey gated-communities and condominiums in Cambodia to ease some of the financial pressure facing customers to pay monthly instalments until the end of March 2022, in light of the Covid-19 pandemic.
The land division market has plummeted in the wake of the February 20 community transmission, dashing hopes that a brief recovery early this year could be sustained, according to industry insiders.
Even with a flurry of road infrastructure projects nearing completion, Sihanoukville’s real estate market belies the promise of robust growth that 2018 brought for the once-sleepy coastal town, according to observers in the Kingdom.
Warehouse rental demand and prices have remained similar at similar levels of those in the year-ago period as Covid-19 vaccination campaigns in Cambodia and around the world set a positive tone for the market, according to industry experts.
Local developer 5LH Lorn City Development Co Ltd’s (Lorn City Group) $100 million residential project broke ground on February 22 morning in Preah Sihanouk, to meet the growing housing demand in the coastal province, the provincial administration said in the press release.
New York Stock Exchange- (NYSE) listed hotel franchiser Wyndham Hotels & Resorts Inc (WH) has opened its first hotel in the Kingdom – the Howard Johnson Plaza by Wyndham Blue Bay Sihanoukville, WH said in a February 18 press release.
Cambodia's residential market is expected to begin the year growing at a slower pace that year-ago readings – as fears of a protracted Covid-19 pandemic stagnate prices – but close out 2021 with a modest boost, according to industry insiders.
Canopy Sands Development Co Ltd, a member of Prince Holding Group, one of Cambodia’s largest and fastest growing conglomerates, approved a master plan to develop Preah Sihanouk province’s Ream bay into the $16 billion Ream City.