>Millennium and Royal to launch $2 billion project in Cambodia

>Kith Meng, the owner of Royal Group who was awarded the Koh Rong concessions.

Royal Group and Millennium Group are currently looking for investors for a new resort on an island off the East Coast of Cambodia which could eventuate to a US$2 billion project.

The new project revealed by Bloomberg, finds that the partners are looking to launch a new island resort on Koh Rong to include a new airport, apartments, casinos, golf courses, polo fields and the like.

It is understood that the two will raise funds to build this new development from regions such as the Middle East and London. Estimates put the development of the entire resort between ten and 15 years.

Koh Rong Island is the largest of 22 islands off the coast of Sihanoukville, and has been described Royal Group as ‘like the Maldives’.

Royal and Millennium are also said to be in talks with global and regional hoteliers, like Banyan Tree, to encourage them to also put properties on the island.

Cambodia has been aggressively developing its tourism offerings these last few years as the benefits of traveller dollars become more apparent. Visitors to Cambodia burst past the 2 million barrier last year for the first time.

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s