Giant Ferris Wheel Set to Roll in Siem Reap

Local firm Angkor Eye Company Limited began construction on a giant 80-metre Ferris wheel on 30 June 2019 in Siem Reap province, according to the Siem Reap Provincial Information Department.

According to the source, this giant Ferris wheel, located in Box Ville, Krous Village, Svay Dangkum Commune, Siem Reap District, is a US$7.2 million investment by Angkor Eye Company Limited.

Standing 85 metres high with 48 baskets, this new wheel will be able to accommodate up to 192 people per 18-minute rotation when it opens in December 2019.

The Information Department quoted Mr Meng Hieng, Director of Angkor Eye as saying “Cambodia is the first country to import a Ferris wheel from Japan and it is the tallest in the market, and the third tallest in Southeast Asia”.

Mr Meng Hieng also added that the decision to invest in Siem Reap is due to its rich temple heritage and being the most attractive tourist spot.

Moreover, the source also quoted Mr Taheyoshi Shinomiya, chairman of the board of directors of Angkor Eye as saying “The Angkor Ferris Wheel will be the 14th project of CQ Amenic Co as it has 13 wheels across the globe and made its first investment in Cambodia at Aeon mall. This Japan-imported Ferris wheel has unique features that have been developed in a professional design among the other 140 Ferris wheels in Japan”.

At the same time, H.E Tea Seiha, Siem Reap Provincial Governor welcomed the investment project citing that it helped to promote the tourism sector through this new tourism production and as well contribute to the development of the country.

- Video Advertisement -

Related Post

Cambodia Poised for Economic Windfall as U.S. Trade Policy Shifts from Vietnam

Cambodia stands to emerge as a major beneficiary of potential U.S. trade policy shifts, with experts predicting significant manufacturing opportunities if Donald Trump returns to office, particularly as Vietnam faces possible trade tariffs similar to those previously imposed on China, according to 2025 Fearless Forecast shared at a Real Estate Forum in Novotel Phnom Penh […]

Asia Pacific Real Estate Forecast 2025: Navigating Challenges with Resilience & Opportunity

The Asia Pacific real estate market is poised for steady growth in 2025, buoyed by easing global interest rates and projected regional GDP growth of 4.4%, despite persistent challenges such as China’s ongoing property market struggles and geopolitical tensions. the International Monetary Fund (IMF) and World Bank confirmed these growth projections in their recent regional […]

Cambodia Faces Mounting Debt Challenges in the Real Estate Sector

The real estate sector in Cambodia is grappling with mounting financial concerns as total housing debt nears USD 1 billion, according to insights shared during the recent roundtable discussion, The Debt Situation in Cambodia, organized by the Real Estate and Mortgage Regulatory Authority. Mr. Chou Vannak, Director General of the Authority, revealed that homebuyers owe between […]

Expert: Dual-Pronged Strategy to Navigate Post-Pandemic Challenges in the ASEAN+3 Property Market

The ASEAN+3 property markets, encompassing ASEAN nations along with China, Hong Kong, Japan, and Korea, are grappling with declining prices and transaction volumes, compounded by financial constraints, surplus inventory, and at-risk developers. These challenges, exacerbated in the Plus-3 economies by stricter financial conditions and diminished buyer confidence, underscore the pressing need for stabilization measures in […]

Critical Analysis of Cambodia’s Stamp Duty Exemption Policy for Properties Valued at USD 70,000 or Less

The Cambodian government’s decision to introduce a stamp duty exemption for properties valued at USD 70,000 or less is a policy aimed at alleviating the financial burden on property buyers and stimulating the real estate market. However, while this policy appears beneficial on the surface, a deeper analysis reveals both advantages and disadvantages that raise […]

Thai Office Space Vacancy Rate Rises 26.3%, Yet Thailand’s Richest Billionaire Optimistic on Market Demand Growth

Bangkok’s office vacancy rate in prime Grade A buildings has soared to 26.3%, reflecting a growing oversupply, but Frasers Property Limited, led by Thailand’s wealthiest scion, is betting on the US-China trade feud to drive demand for office and industrial spaces across Southeast Asia, according to the Bangkok Post on 19 September 2024. With a […]