Cambodian and Chinese Investors Team Up for Large Commercial City Project in Sihanoukville

Sihanoukville is preparing to welcome construction on a large commercial city, a joint venture between local developers and Chinese investors.

The K99 Group recently broke ground on the ‘Are de Triomphe’ commercial project, with a capital investment of about US$70 million, jointly owned by the company and Chinese investors.

The ‘Are de Triomphe’ development includes construction of 36 buildings comprising of commercial buildings, and hotel buildings which will extend over 10 hectares of land in Sihanoukville.

Speaking to the media at the event, Mr. Rithy Rasmey, CEO of K99 Group, said that the establishment of this commercial project is to create jobs, reduce the problems of migration, and lift up Sihanoukville’s reputation.

The company has not yet disclosed how long the project will take to build.

- Video Advertisement -

Related Post

Brunei’s Khazanah Sets Sights on Infrastructure Investment in Cambodia

In a significant development for Cambodia’s infrastructure landscape, Khazanah Nasional Berhad of Brunei Darussalam actively seeks investment opportunities. This was highlighted during a meeting held on November 19, 2024, between His Excellency Prime Minister Hun Manet and Mr. Dato Khairul Hamed, the company’s CEO. During the discussions, Mr. Hamed outlined Khazanah’s intention to explore a […]

Japan Invests Over USD40 Million in Cambodia in 2024: Strengthening Economic Ties

In a significant boost to bilateral relations, Japan has invested more than USD40 million in Cambodia during the first 10 months of 2024, maintaining its position as the seventh-largest investor in the country. This development was highlighted in a recent report from the Council for the Development of Cambodia, released on November 19, 2024. To […]

Ratanakkiri and Mondulkiri Provinces Draw Attention from Chinese Investors

In a significant development for Cambodia’s agricultural sector, China’s Zhongjiao Tongli has announced its plans to expand investment in cultivating bananas and mangoes across Ratanakkiri and Mondulkiri provinces. This announcement follows a key meeting between Prime Minister Hun Manet and company President Mr. Zhongdi Sun, held on November 6, 2024, in Kunming, Yunnan Province, China. […]

Korean Firm Eyes Investment in Cambodian Cashew Processing

Heungkuk Industry, a top manufacturer of construction materials from South Korea, is set to invest in cashew processing in Cambodia. This commitment emerged from a pivotal meeting on November 19, 2024, between HE Vongsey Visoth, Deputy Prime Minister in charge of the Office of the Council of Ministers, Mr. Lee Kee Yun, Director of Heungkuk […]

ARK Electronics Group Announces USD1.3 Billion Investment to establish a 1000ha industrial park in Kampong Speu

In a significant move for Cambodia’s industrial landscape, ARK Electronics Group, a Chinese company, has unveiled plans for a massive investment exceeding USD 1.3 billion to establish a sprawling 1,000-hectare industrial park in Kampong Speu province. During a recent meeting between HE Dr. Cheam Chansophoan, Governor of Kampong Speu Province, and Ms. Chang Venza, General […]

Remarkable Investment Growth in Cambodia Over the First 10 Months of 2024

Cambodia’s economy is experiencing significant growth in investment. In the first ten months of 2024, the Council for the Development of Cambodia approved 346 new projects totaling over $5 billion, expected to create about 270,000 jobs. HE Chea Vuthy, Secretary General of the Cambodian Investment Committee, reported that investment increased by 38% compared to the […]