Sihanoukville’s Property Sector Set For Bright Future

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Billions of dollars from foreign investors are expecting to be poured in to Preah Sihanouk province to tap into the Kingdom’s burgeoning tourism industry.

Cambodia’s coastal resort town of Sihanoukville is attracting a wealth of investors and developers looking to cash in on improved infrastructure and an increase of flights landing at the airport. “As the tourism sector improves, businesses also take off and this in turn spurs investors to put their money in the province to develop real estate,” said Chrek Soknim, CEO of realtor Century 21 VTrust.

“The scenery here is beautiful and there are holiday homes suitable for tourists, as well as for those who want a second home. With a growing number of tourists visiting coastal areas, I don’t think the sales of villas, residences or condo units in the province will be a problem,” he added.

The Cambodian government’s close relationship with China is also set to boost the property sector, with a twinning program linking Preah Sihanouk province with the Zhencheng district of Guangdong province. The move comes as part of the “One Belt, One Road” initiative, which aims to promote regional and cross-continental connectivity between China and Eurasia.

Recently, a Chinese-based consortium announced plans to establish a $3 billion international resort centre in the Cambodia Golden Silver Gulf Resort project in Preah Sihanouk province, while in August, a large US-based international hotel and resort group revealed they were to invest close to $120 million in a multi-resort development project .

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