Local government contemplates on real estate project worth $25 million in Cambodia

Authorities in Kampot reveal that they have to review the technical and legal procedures prior to submitting the project for approval 

Angkol Beach at Kampot province, Kingdom of Cambodia. AngkorVector/Shutterstock

The Kampot provincial administration is currently deliberating over a massive real estate investment project valued at around USD24.8 million in the Kampong Trach district of Cambodia, reported the Khmer Times.

The investment project presented by Gold Coast International Development Co. Ltd. has been assigned its own technical committee to thoroughly evaluate its impact on the province.

The proposed project will be developed on a 42-hectare land in the Thkov village, West Russey Srok commune, Kampong Trach district. It will come with a four-star hotel, a shopping mall, a commercial centre, an entertainment centre, condominiums and tourism services.

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On a meeting held last 11th of September, Kampot Provincial Governor Cheav Tay disclosed that the provincial administration has established a working group to assess the legal and technical processes before referring the said project to the Council for the Development of Cambodia for approval.

Kampot province is among the four coastal provinces in the southwest of Cambodia. The area is now viewed as a promising investment hub since the government has been converting it into one of the most appealing tourist destinations.

By 2023, the local provincial administration plans to attract about 2.5 million national and foreign tourists.