Local and French joint-venture Forest Harmony has broken ground on its $18 million “second-home” Luxury Holiday Villas project in Kampot province.
Century 21 Mekong CEO and local shareholder of the project Chrek Soknim told The Post that the project will comprise 90 villa units covering 18ha on a 97ha parcel of land which is located near Kampot town.
He said Kampot province has a reputation as a natural tourism destination and second coastal tourism destination after Preah Sihanouk province.
The project targets both local and foreign tourists who wish to have their own property in the province to relaxing over a weekend or holiday, he said.
“We opened for sale on Saturday, which was the same day we started construction. As of now, more than 10 per cent [of the project] has been booked – this is a very positive sign.
“Cambodians have seen an increase in their incomes and are spending a lot more on holidays in many places around the country, so it is the right time for us to start our first second-home project in Kampot, which is very famous among local and foreign tourists,” Soknim said.
He said each villa will be laid over an area of 24m by 30m and designed in a European style. The project will also contain parks, restaurants, football and tennis courts and other entertainment facilities.
He said the project will be completed within two years and in line with the government’s plans to develop the province to be more attractive to tourists.
Kampot provincial Department of Tourism director Soy Sinol said the project follows the tourism development policy in promoting second homes for retired people and for locals seeking to go on holiday.
The project “will greatly contribute to the attraction of the tourism sector in my province”, he said.
Cambodia is an expatriate hotspot for those dreaming of living a more luxurious lifestyle at an affordable cost, International Living’s Annual Global Retirement Index 2019 report said in February.
For the fourth year in a row, Cambodia took the top spot in the Cost of Living category. The report detailed the best places for foreign retirees to live this year and scored the country full marks of 100 out of 100 for the cost of living.
Vietnam ranked second with 99 points, and Thailand third on 94 points. Peru and Bolivia were tied for fourth to complete the top five. The Annual Global Retirement Index ranks the 25 best retirement havens in the world.
Cambodia ranked 12th overall in the list of best retirement destinations, scoring overall points of 81.2. Thailand was placed ninth on 83.5, with Vietnam 19th on 79.4. Panama in Central America topped the list, scoring 100.