DPA
Phnom Penh - Australia's Brocon Group Ltd cemented its place in the island development boom off Cambodia's coast, earning formal government approval for its planned 35-million dollar luxury resort, CEO Rory Hunter said Monday. "From July 2007 we had an in-principle agreement, but we have now received official approval on a 99-year non-renewable lease from Prime Minister Hun Sen and the Council for Development of Cambodia so we can go full steam ahead," Hunter said by telephone.
He said the company hopes to break ground this year, although it may be early next year, and completion is scheduled for 2010.
The development on the twin Song Saa, or Sweetheart Islands, 29 kilometres off the south-west coast of Cambodia, is being billed as a place for "well-heeled adventure travelers" and will feature a spa, restaurant, pool and luxury accommodation.
"We have interests in a few other areas, but this is our labour of love at the moment," Hunter said. Brocon also renovates French colonial era apartments in the capital, 240 kilometres away, for sale and rent.
Established in 2005, Brocon is a small company with just nine full-time staff in its Phnom Penh office but has been a success story in Cambodia's rapidly expanding real estate market.
Hunter said the coastal islands off Sihanoukville show tremendous tourism potential, claiming the atmosphere is reminiscent of Thailand's now world famous beach resorts 30 years ago.
He said the company hopes to break ground this year, although it may be early next year, and completion is scheduled for 2010.
The development on the twin Song Saa, or Sweetheart Islands, 29 kilometres off the south-west coast of Cambodia, is being billed as a place for "well-heeled adventure travelers" and will feature a spa, restaurant, pool and luxury accommodation.
"We have interests in a few other areas, but this is our labour of love at the moment," Hunter said. Brocon also renovates French colonial era apartments in the capital, 240 kilometres away, for sale and rent.
Established in 2005, Brocon is a small company with just nine full-time staff in its Phnom Penh office but has been a success story in Cambodia's rapidly expanding real estate market.
Hunter said the coastal islands off Sihanoukville show tremendous tourism potential, claiming the atmosphere is reminiscent of Thailand's now world famous beach resorts 30 years ago.
5 comments:
i think leasing is better than selling islands to foreigners. look at hong kong, was once leased to the british for 99 years and then return back to china and look how it has developped. so, leasing is not the same as saling as fee simple or something as cambodia law forbid saling outright to any foreigner. leasing is better because they do pay fees to gov't for their lease, plus cambodia won't lose any precious land to any foreigner. companies should also make effort to hire and train as many cambodian workers as possible as part of the lease agreement, etc..., this way khmer people will also have a good future ahead of them as that will help contribute to the prosperity and development of cambodia as a whole. thank you and god bless cambodia.
99 years??!! The fucking government is very STUPID! Who the hell leases land for 99 years?? Kicking Khmers off their land and letting the foreigners come in??? Khmers wake up, Ah Hun Sen is not developing the country rightfully. He is not providing for Cambodia, only getting richer off corruption. Someone needs to GET RID OF THE CPP.
99 years is too long! Nobody has the right to make such a long time frame without the consent of the people. The government in Cambodia does not represent the people. It is a force that is power hungry and selfish. Khmer land Khmer development Khmer workers Khmer engineers. Russians? They are crackpots and thieves. Rejects who drink countless vodkas. KHMERS should learn how to manage and develop, we dont need foreigners to wipe our asses.
remember, everthing in the lease has to agree with the gov't, it gov't don't want people being kicked off their land, then i don't think whoever leased that island or land can do as they please because gov't reserve the rights to refuse or cancel any such agreement violation. so don't worry, khmer people, just know the law and the real truth. we are not going to losing land our this, just discussed thoroughly in parliament if so concern. thank you.
1:33am,Then you will be waiting another 100 years to develop Cambodia,Khymer not listen easy to learn.Check Long Beach schools for Khymer,go backwards.
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