Logo of Phnom Penh Post newspaper Phnom Penh Post - Royal Group seeks $2b for island project

Royal Group seeks $2b for island project

Royal Group seeks $2b for island project

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.

MOST VIEWED

  • Chinese influx pushing locals, Westerners out of Preah Sihanouk

    Some within the Kingdom’s tourism industry have speculated that the recent influx of Chinese visitors may hinder domestic tourism as the price of accommodations in the coastal city of Sihanoukville continues to rise. Preah Sihanouk province, which has become a hotbed for Chinese investment

  • ‘Dire consequences’ from sanctions, warns AmCham

    American businesspeople in Cambodia have warned that any sanction against the Kingdom would have “dire consequences” that could push Cambodia even further into the arms of China. In a letter to US senators and representatives dated Monday, the American Chamber of Commerce Cambodia (AmCham) said

  • CPP: ‘Behave or Sokha suffers’

    The ruling Cambodian People’s Party (CPP) spokesman warned Kem Monovithya on Thursday that her attempt to damage “national reputation and prestige” would lead to her father, Kem Sokha, receiving even harsher punishment. Sok Eysan issued the warning as Monovithya, who is the court dissolved

  • Preah Sihanouk beach developments halted

    After receiving an order from Hun Sen, Minister of Land Management Chea Sophara led a team of experts and relevant officials to Sihanoukville to call a halt to the illegal development of a beach. The prime minister ordered the Prek Treng beach in Otres commune