Masterplan for US$16 billion Ream City Development Approved

• 9 February 2021
• Local News
• 10231 Views

A masterplan to develop an 834-hectare sustainable Ream City by Singaporean firm Surbana Jurong has been approved by Canopy Sands Development, a member of Prince Holding Group, according to The Straits Times.

Worth over US$16 billion, the Ream City project will transform the region into a new ecosystem of tourism, commercial and residential city that could house up to 130,000 residents.

According to The Straits Times, Surbana Jurong has been appointed to undertake the master planning, urban design and coastal engineering works; and to date, the masterplan has already been approved.

Surbana Jurong’s Asean chief executive Yeo Choon Chong told The Straits Time that the proposal prioritises the integration of nature to enhance the built environment.

“A major part of the plan includes an extensive beachfront that stretches beyond 6km. This will support a wide range of waterfront activities and inject vibrancy to the community,” Yeo said.

The project was revealed in February last year during the meeting between H.E. Chea Sophara, Minister of Land Management, Urban Planning, and Construction, and related authorities. (Read more)

Proposed by Canopy Sands Development Co., Ltd, the project will comprise of hotels, restaurants, resorts, residential buildings, conference rooms, business and financial centre, sports centre, and a golf club.

The Ream City project will also include the development of two new beaches, which will be open to the public after the completion of the project.

This ‘Ream City’ project is part of the Ministry of Tourism’s project called ‘Naga City’, covering 3,081 hectares of land. The project will connect Ream Bay, Otres Beach, Ochheuteal Beach, as well as the airport into a significant economic and tourism zone.

Regarding the development in Sihanoukville, the Cambodian government has also recently announced its plan to transform Sihanoukville into an industrial city with special economic zones and manufacturing for exports, similar to the Shenzhen industrial city of China. (Read more)

Photo: SURBANA JURONG/The Straits Times

• Business and Market
• Projects Development
• Investment and Funding