Cambodia Economic News: Prime Real Estate May Be Set for Development A 5,000-square-meter plot of land owned by the local Sokimex Group on Phnom Penh’s Street 154, near Wat Ounalom and Kandal market, could be the site of a new, multi-story hotel, the conglomerate’s CEO said yesterday. Sok Kong, Sokimex CEO, said yesterday that construction of a hotel on the site, which sits adjacent to the Amanjaya Pancam Hotel and stretches a block, from Street 154 to Street 148, has been delayed because of the current political impasse. Mr. Kong added that before and after the election, representatives of a Korean company and a Japanese company talked with him about purchasing the land to construct a hotel, but they had not returned after initial talks. Earlier this year, Sokimex began clearing businesses from its land a block away at the corner of Streets 19 and 154, the location of the former colonial era T-3 prison, for the planned development of a Chinese-backed 15-story hotel with high-end shops and a super-market. (Source: The Cambodia Daily)
Posted on: Wed, 30 Oct 2013 04:45:25 +0000
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