Phnom Penh: After investors flocked to Sihanoukville, China has turned to the coastal areas of Kampot and Kep, gradually resulting in real estate activities, especially land acquisition. In both provinces, there are growing numbers of investors.
According to Keo Socheat, managing director of Blue Star’s Kampot Real Estate Real Estate Company, after the investment In Preah Sihanouk province, strong growth has now reached some of the real estate development projects in Kampot province.
He said that the Chinese investment projects in Kampot province are not the same as in Sihanoukville. However, seeing more Chinese investors coming to Kampot, local authorities, investors, as well as real estate agents in Kampot, are preparing services, as well as facilitating Chinese investors to develop the coastal province.
He said that after the price of land in the province increased at a modest pace since the beginning of the year. “Land in potential areas has reached hundreds of US dollars per square meter”
Mr. Sok Kenn, a real estate agent in Kampot province, also said that there are currently some big projects initiated by Chinese investors, such as the SEZ project in western part.
“China’s first step in the development of the project is to buy land that was previously not used,” he said. “An official investment license from the Royal Government of Cambodia has been received “.
He said that local investors, especially in the Kampot province, they have seen themselves busy in helping. facilitate selling land to foreign investors, and the legality for China’s projects.
Sok Kanh further: “By observing, in only two or three years, Kampot will develop a lot because some projects are already getting started and some will start next year. So just two or three years, those projects will end, making the real estate sector more valuable.”
Over the last few years, bilateral trade from China to Cambodia has grown considerably. China has become a major trading partner and the largest investor in Cambodia. By the middle of this year, China had invested about 5 billion US dollars. The property market is the largest sector.