Government Approved Chinese Mega Development Project Along the Riverside

Government Approved Chinese Mega Development Project Along the Riverside

The Council for the Development of Cambodia (CDC) has approved the investment project located along the Tonle Sap River that was requested by Chinese real estate developer, Chean Chhoeng Thai Group, a subsidiary of Yuetai Group.

Called “The City Gate” mega commercial complex, the investment project will cost Chean Chhoeng Thai Group US$531.6 million and can create additional 21,684 jobs for the city.

The investment project came after Phnom Penh Autonomous Port (PPAP) leased out nine hectares of its land from Chroy Changvar Bridge to the Night Market along the Tonle Sap River to the company for a period of 50 years.

As stated in the leasing agreement, Chean Chhoeng Thai Group will turn the area into a mixed commercial complex comprising of an art centre, office building, cultural centre, water park, floating market, playground and public park, Phnom Penh smart centre, technology office, consolidated residential building, modern innovation building, a five-star hotel, and other activities as determined by the Council of Ministers. (Read more)

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