Logo of Phnom Penh Post newspaper Phnom Penh Post - CDC gives $68M hotel project nod for Poipet

CDC gives $68M hotel project nod for Poipet

CDC gives $68M hotel project nod for Poipet

The Council for the Development of Cambodia (CDC) has approved a more than $68 million hotel project in Poipet town, it said on Friday.

The project, funded by Boonma Heng Co Ltd, aims to build the first four-star hotel in the province, complete with 392 rooms and a shopping centre in Poipet’s Kbal Spean 1 village. The venture is said to create up to 836 jobs.

The Post could not find any official websites for Boonma Heng, nor anything about the company from the Ministry of Commerce’s listings.

Poipet governor San Sean Ho told The Post on Sunday that he had not received any information about the project as yet, but he welcomed any major development in the town.

He said Poipet has about 50 hotels and more than 30 guesthouses. “But it is beginning to face a shortage of such accommodation and needs more rooms,” he said.

He said Poipet, which is the main border crossing to Thailand, is now attracting more interest from investors, especially those from China.

Poipet has three operational special economic zones with another two in the works.

At the beginning of this year, a report from CL Realty said the price of land in Poipet was between $100 and $1,000 per square metre.

CL Realty CEO Sear Chailin said the country’s main international gateway is showing high potential for both trade and tourism.

“Because of these favourable conditions, the land price in Poipet town is going up,” he said.

MOST VIEWED

  • Oil producers see oversupply

    Major oil producers said on Sunday that crude supply next year would outstrip demand, calling for new strategies based on production adjustments. Khalid al-Falih, Energy Minister of the world’s top supplier Saudi Arabia, said the kingdom would cut its production by 500,000 barrels per day (

  • ‘Historic’ Khmer Rouge tribunal Case 002/2 verdict to be delivered

    The Extraordinary Chambers in the Courts of Cambodia (ECCC) are to deliver the verdict on Friday, in the trial of former Khmer Rouge leaders Nuon Chea and Khieu Samphan, in a pronouncement hailed as a “historic event for Cambodia and the world”. The verdict from

  • Record set for world’s longest dragon boat

    Cambodia broke the world record for the longest dragon boat – a title previously held by China, Guinness World Records adjudicator Pravin Patel said on Monday. He verified the record on the east bank of the Mekong river, in Prey Veng province’s Peamro district. “With

  • Analyst: Government appointments ‘a waste of national budget’

    The government has appointed over 200 officials as undersecretaries of state, secretaries of state, assistants and advisers at various institutions since October 1. While senior officials said the appointments were aimed at ensuring higher efficiency at the national level, social analysts said the practice is merely power-sharing