Market uncertain over Kampot mega-project

• Proeksa Meas
• 6 December 2016
• Uncategorized
• 1851 Views

A company is seeking approval from Cambodian authorities for a project to create two islands off the coast of Kep as part of a USD23.2 billion mega-resort.

Pallas Brilliant, the developer behind the project, plans to construct a 4,158 hectare multipurpose tourism resort, called “French Riviera City,” on two specially-built islands in the next five years.

Despite the developer claiming government support, the Council for the Development of Cambodia (CDC) has said it hasn’t received all the documentation and the Ministry of Environment must complete the environmental impact assessment (EIA).

Market reaction has been largely dismissive however and Kim Heang, president of the Cambodian Valuers and Estate Agents Association (CVEA), told the Phnom Penh Post he thought it was “unbelievable”.