The first ever large scale of mega projects worth of $23.2 billion for world-class destinations for living, business, tourism and film production is set to break ground early next year in Cambodia’s
southern coastal province of Kampot.
The investment is also eying neighboring Thailand and Vietnam that will follow through.
In an interview with Kyodo News, Chheang Sophanna, executive director and head of international sales at Pallas Group said his company was given green light by Cambodian government on Oct. 12 and is set to break ground in March next year.
He said it will be the first gigantic investment in Cambodia through the creation of world-class destinations for living, business and tourism.
According to project documents seen by Kyodo News, Pallas Group an international real estate developer, will invest on a 4, 158 hectare French
Riviera Marina project in Kampot and a 144-hectare Kep Marina development, overlooking the gulf of Thailand.
Kampot province and Kep city are located 150 kilometers and 170 kilometers in southern part of Cambodia, respectively.
“The French Riviera Marina and Kep Marina projects will become world-class destinations for living, business, tourism and film production. Pallas will create thousands of jobs during the construction with more than 50,000 direct and thousands more indirect employment opportunities servicing the developments,” said company Chairman Siriluck Choochart.
“Each of our projects have been designed to be in complete harmony with the environment utilizing advanced construction methods and the highest grade materials, they will be the last word in exclusivity and luxury,” she added.
According to that plan, The French Riviera Marina community in Kampot will be secure ocean side green parkland community consisting of hotels, villas, apartment, water park, private & artificial beaches, golf course, marina, equestrian center, polo club, sports stadium, fitness center, musement park, tennis club, shopping mall, state of the art film and TV studios, offices, schools and a health center all interlinked via navigable canals and cable cars.
When contacted for confirmation, Hing Thoraxy secretary of state of the Office of the Council of Ministers said he had signed that approval and hoped it will move ahead as planned and without delay.
According to the documents, the company will develop 70 percent of the land for the tourism development, while 30 percent will be given to the provincial government for administrative purposes.
The number of foreign tourist arrivals in Cambodia in 2015 was almost five million and majority of them go to Northern Province of Siem Reap, hometown of Angkor Wat temple complex.
With the mega projects established, foreign tourists will stay in Cambodia longer as they have more places to go and stay, especially, the world’s class destination that will be invested by Palla Group, an experienced investor with initial project in Dubai, said Chheang Sophanna.
Utilizing innovative modular construction methods combined with the latest technology in building materials Pallas is planning to invest in another spot in Siem Reap, linking to Kampot, then to the City of Flowers in Dalat and La Marina in Nha Trang, Vietnam and as well as Marina Bay City in Ranong and Sompong Marina in Patong, Thailand.