​Royal Group seeks $2b for island project | Phnom Penh Post

Royal Group seeks $2b for island project

Business

Publication date
11 July 2008 | 07:00 ICT

Reporter : Post Staff

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A photo from 1974 altered using rudimentary manipulation techniques shows the contributor’s uncle and aunt. PHOTO SUPPLIED

Cambodia’s Royal Group is seeking $2 billion in foreign investment to develop a 78-square-kilometer island off the country’s south coast, Bloomberg reported on July 10. In a joint venture with the Hong Kong-based Millennium Group, Royal has plans to build casinos, resorts, golf courses and an airport on Koh Rong, the largest and least developed of the 22 islands that lie offshore from Sihanoukville. Once funds are secured, development is slated for completion sometime after 2018, Bloomberg quoted Royal Group Chairman Kith Meng as saying. The government has approved at least six major resort projects on islands off Sihanoukville in a bid to bring more tourists to the region.

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