Logo of Phnom Penh Post newspaper Phnom Penh Post - Sokha inks BIDC loan

Sokha inks BIDC loan

Sokha inks BIDC loan

110427_7a
A security guard drives past scaffolding that was put in place to prevent landslides at Bokor Mountain, the future site of a Sokha hotel.

Three Sokha Hotels now under construction in the Kingdom were financed by a loan from Vietnam-owned BIDC bank, Sohka Hotel Company Chief Executive Officer Sok Vanna said yesterday.

The firm has received the capital, and is using it to finance Sokha’s Bokor resort in Kampot province, as well as the Sokha Phnom Penh Hotel on the Chruoy Changvar peninsula and a beachside hotel in Preah Sihanouk province, he said.

“We had already received the agreed-upon loan, and begun implementing our projects, but we waited to sign the official agreement during the visit of the Vietnamese Prime Minister to the Kingdom,” he said.

The loan agreement was signed by BIDC CEO Nguyen Van Hien and Sok Vanna on Sunday, during a visit by Vietnam’s Prime Minister Nguyen Tan Dung to Phnom Penh. Sok Vanna declined to reveal the size of the loan yesterday.

The three projects are at different stages of development. Five stories of the 16-storey, 799-room Sokha Hotel Phnom Penh are built, and is set for a 2014 completion, he said.

Work on the 700-room, 18-storey Sokha Bokor Hotel located on Bokor Mountain next to a historic casino is continuing, though no completion date has been set.

The 9-storey, 600-room Sokha O’Chheuteal Hotel is expected to be completed in 2012 in Sihanoukville.

“Cambodia has lots of areas that will attract international tourists to come,” he said.

The firm currently operates three Sokha hotels in Cambodia.

Ministry of Tourism Industry Department Director Prak Chan Dara said yesterday that the Kingdom has seen many hotels being built in recent years.

“We will have a lot of five star hotels in our country and we think that it is a good sign for the tourism sector,” he said.

MOST VIEWED

  • PM imposes nationwide Covid restrictions, curfew over Delta scare

    Prime Minister Hun Sen late on July 28 instructed the municipal and provincial authorities nationwide to strictly enforce Covid-19 measures including curfew for two weeks from July 29 midnight through August 12 to stem the new coronavirus Delta variant. The instruction came shortly after he issued a directive

  • Two luxury hotels latest quarantine options for inbound travellers

    The Inter-Ministerial Committee to Combat Covid-19 has designated two luxury hotels as alternative quarantine options for travellers who wish to enter Cambodia through Phnom Penh International Airport – Sokha Phnom Penh Hotel & Residence and the Courtyard by Marriott Phnom Penh. In a notice detailing guidelines issued

  • Provinces on Thai borders put in lockdown amid Delta fears

    The government has decided to place several border provinces in lockdown for two weeks in a bid to prevent the new coronavirus Delta variant spreading further into community. According a directive signed by Prime Minister Hun Sen late on July 28, the provinces include Koh Kong,

  • China denies Mekong hacking

    As the US and its allies joined hands last week to expose what they allege to be China’s Ministry of State Security’s malicious cyber activities around the world, the attention also turned to Cambodia with the US Department of Justice claiming that four

  • US' Johnson & Johnson Covid-19 vaccines arrive

    The first batch of 455,000 doses of the Johnson & Johnson Covid-19 vaccine donated by the US touched down in Phnom Penh on the morning of July 30. They are part of the total 1,060,100 doses the US has pledged to provide to Cambodia through the World Health Organisation-led (

  • Governor: Covid subsides in capital

    Phnom Penh municipal governor Khuong Sreng said the Covid-19 situation in the capital’s 14 districts has eased, with only two districts still recording a high number of infections. “Transmission cases in all districts are dropping, though they are relatively higher Meanchey and Por Sen Chey.