Sihanoukville’s Ream bay to become a US$ 16-billion mega tourist attraction
Sihanoukville’s Ream bay to become a US$ 16-billion mega tourist attraction
Ream bay of Preah Sihanouk province will be transformed into a US$ 16-billion gigantic tourist attraction, spreading over 800 hectares of land, according to the Ministry of Land Management, Urban Planning, and Construction.
The project was announced during the meeting between H.E. Chea Sophara, Minister of Land Management, Urban Planning, and Construction, and the related authorities on 14 February.
The project is proposed by Canopy Sands Development Co., Ltd, which the firm plans to invest US$ 16 billion to develop its 834-hectare land into hotels, restaurants, resorts, residential buildings, conference rooms, business and financial centre, sports centre, and especially a golf club.
The project also includes the development of two new beaches, which will be open public after the completion of the project.
According to the company, the project will be developed phase by phase, of which the first phase comprising of infrastructure development is set to begin this 2020.
This ‘Ream City’ project is part of the Ministry of Tourism’s project called ‘Naga City’, covering of 3,081 hectares of land. The project will connect link Ream Bay, Otres Beach, Ochheuteal Beach, as well as the airport into a significant economic and tourism zone.
Regarding the development in Sihanoukville, the Cambodian has also recently announced its plan to transform Sihanoukville into an industrial city with special economic zones and manufacturing for exports, similar to the Shenzhen industrial city of China. (Read More)
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Source: construction property news