China to Inject Us$1.2billion on Tourism Project in Koh Kong

• Proeksa Meas
• 4 September 2018
• Uncategorized
• 6075 Views

Dara Sakor Resort

China Union Development Group Co., Ltd has revealed plans to invest billionsof dollars on the construction of a “Tourism City” located in the coastal city Koh Kong Province.

In a meeting with H.E Pan Sorasak, Minister of Commerce (MoC) Mr Li Tao, Chairman of the Board of Director of Union Development Group Co., Ltd, said that his company plans to invest US$1.2 billion to build a “Tourism City” on 1,200 hectares of land.

The project comprises of diverse infrastructure including as a five-star hotel, modern condominiums, bungalows, an office building and abusiness centre as well as an international entertainment park. Construction on the project is expected to start in early 2019.

In response to this investment project, H.E Pan Sorasak expressed his full support while claiming that the project will help strengthen the integration of Cambodian economy into the global business system as well as enhancing the country’s reputation on the international stage in order to attract more international tourists and investors in the future.

Meanwhile, regarding the exact location of the development project, the meeting has yet to be disclosed. However, Union Development Group is the company responsible for the development of the multi-billion Dara Sakor Seashore Resort located in Kiri Sakor district and Botum Sakor district of Koh Kong province stretching over an area of 36,000 hectares.

So far, the company had already invested more than US$1.5 billion on the project after the government granted a 99-year concession for the land in 2008.