Cambodia’s southern coast is finally getting some overdue attention
Sihanoukville’s beaches have long been a draw for tourists. Image credit: Damian @ Flickr
Long overlooked for the historical beauty of Siem Reap and the bustle of Phnom Penh, the province of Sihanoukville has been earmarked for more foreign investments.
A consortium of Chinese investors is reportedly pouring USD3 billion into a 337-hectare development along the Sihanoukville coast, named the Cambodia Golden Silver Gulf Resort, according to the Khmer Times.
This development comes as scheduled flights to Sihanoukville International Airport continue to increase and industrial zones draw nearer to the province.
The international aspect of the airport is important. Tourists can now not only fly from Phnom Penh and Siem Reap direct to Sihanoukville, but also from South Korea, Singapore and China. In the first eight months of 2015, Sihanoukville Airport served approximately 65,698 passengers, a 149 percent year-on-year increase, reported The Phnom Penh Post.
More: How Cambodia’s real estate sector will fare in the AEC era
Sihanoukville holds a reputation as a backpackers’ paradise, with many visitors trooping offshore to the islands of Koh Rong and Koh Rong Samloem. Sihanoukville governor Chhit Sengnguon claimed the province received 1.3 million tourists in the first five months of 2016 alone.
Real estate activity around the province is also expected to magnify due to the proliferation of special economic zones along National Roads 3 and 4. The roads lead directly to the city of Sihanoukville, which has the distinction of having Cambodia’s only deep-sea port.
Alexander Evengroen, vice-chair of the Real Estate & Construction Committee of Eurocham, believes that National Road 3 is the “key for industrial development.”
Aside from backpackers, Sihanoukville seems ready to welcome another class of tourists: gamblers. According to the Ministry of Economy and Finance, licensed casinos operating in Sihanoukville have risen to 15, catching up to established gambling towns such as Poipet and Bavet.
Read next: A very hip launch party for Cambodia’s biggest real estate event
Source : property-report.com
Read more…Why property developers should keep a beady eye on Cambodia’s southern coast
