Ban on online gambling shrinks real estate activities in Sihanouvkille, but opportunity arises

• 14 October 2019
• Local News
• 9269 Views

The recent ban by the Cambodian government on online gambling has caused many Chinese nationals to leave the busy city of Sihanoukville with real estate activities affected as a result. However, experts remain optimistic that this change will create new opportunity for the industry.

Speaking at the real estate market review held on 11 October, Mr James Hodge, Director of CBRE Cambodia said that the recent policy to ban online gambling has had a slight impact on land prices and on other development activities in Sihanoukville but said this could be a good market adjustment for the province.

“Activities looks like it is slow; we see land sales slightly lower than what we have seen previously… but it also gives it a strong opportunity to change what has become a slightly difficult reputation, so it’s a turning point for that market,” he said.

Mr Hodge added that with the government reinvesting in infrastructure and the movement on the expanding of airport will all have positive impacts on the market.

In fact, the government is preparing to begin construction of 34 roads across the province using US$100 million investment while other infrastructures such as drainage systems and wastewater treatment are also the government’s top priority.

Speaking at the recent media briefing on investment opportunities in Cambodia, H.E Chea Vuthy, deputy secretary-general of the Council for the Development of Cambodia (CDC) said that the government will host a huge seminar in December on tourism investment in Sihanouvkille aiming to attract more investment.

 

 

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