London-listed casino developer Queenco Leisure International (QLI) announced it has purchased land on the southern side of Sihanoukville and will invest $10 million in building a beachfront resort and casino.
Company official Daniela Cormano said QLI purchased nine hectares of land located along beachfront near the area of Ream National Park and the Sihanoukville airport in February.
He said the development project will start in the near future.
“It is a tourist project that combines the good weather and beautiful beach,” Cormano told the Post by email on February 6. “It is very likely that it will attract more tourists.”
QLI, which is also listed in Tel Aviv and describes itself as an emerging markets casino developer, said in a statement that the nine hectares comes in addition to its earlier acquisition of 48 hectares of land in Sihanoukville and includes the exclusive rights for a stretch of beach in front of the site.
“Foreign investment is primarily driving the significant increase in real estate value in Sihanuokville and the surrounding areas,” the statement said.
“The company aims to develop a destination beachfront resort around the casino and will include hotels, conference centers and other related attractions.”
Within the last few years more than 20 coastal beaches and islands southwest of Kampot and Sihanoukville have been leased to local and foreign companies for the tourist developments worth millions of dollars, according to the Council for the Development of Cambodia (CDC), which governs investment projects.