Hong Kong firm to build satellite city in Kampong Speu

• 20 July 2020
• Local News
• 4113 Views

A Hong Kong investment company has announced plans to set up a new satellite city in Kampong Speu province but has yet to reveal the exact location to prevent rises in land prices.

Kampong Speu Governor H.E Vy Samnang said at a press conference on “Progress and Continuation of the Administration of Kampong Speu Province” on 20 July that the Hong Kong firm has been studying the project for a while, but progress has slowed due to the COVID-19 pandemic.

“I have contacted investors in Hong Kong and other local investors; they plan to build a satellite city. However, due to the COVID-19 pandemic, the project is on hold since the foreign investors are not allowed to come here,” he said.

“Currently, we are working on these projects, but if you ask where it is, I prefer not to state the location; otherwise the land price in that area will go up,” he added.

Regarding the development, as of 2019, Kampong Speu Province Administration issued a total of 188 construction permits with a total construction area of over 700,000 square meters, worth more than US$210 million. (Read more)

In an interview with Construction and Property Magazine in May, Governor Samnang said that the area around Kampong Speu Stadium is wide and beautiful, so the provincial administration plans to transform these areas into satellite cities. (Read more)

• Projects Development
• Investment and Funding