Bavet- Boomtown
Svay Rieng: Land prices and buildings in Bavet are skyrocketing, especially in downtown Bavet. Chinese people came into the market to buy land, build high-rise buildings for businesses such as condominiums, hotels, guesthouses, casinos, clubs, supermarkets and shopping malls.
Today, Chinese businesses have launched a series of Chinese-branded businesses, which has been an unexpected bonus for Svay Rieng Province. Also, national and international tourists are busy traveling in through the international border gate between Bavet and Vietnam making economic growth more noticeable.
What people are impressed with and surprised by is the sudden growth of “Heng Heng City”.
Before the area used the Vietnamese dong, the riel and the US dollar, but now, there is also full Chinese yuan circulation among shops in the area.
The city of Bavet has said that the town has developed a very rapidly after Chinese investment projects.
Bavet has primarily used Vietnamese dong, then the riel and the dollar because most of the goods were imported. Since Vietnamese come to play casinos, the flow of Vietnamese currency is also high.
The circulation of the yuan is mostly found in Chinese shops and businesses, because the Chinese market is fairly closed, and transactions are usually between Chinese only. Even though Cambodia benefits from these investments, the country still loses some of the benefits because of foreign currency distribution.
Governor Seang Seila said that the development of the city depended on the presence of Chinese. In fact, the project of Heng Heng Satellite City, which is owned by Oknha Lom Hour on almost 10 hectares of land, relies wholly on Chinese companies. “Without China, investing or renting and buying, it can not work,” he said.
“The value of land and real estate is mainly due to the Chinese buying in the downtown area,” he said. Parts of Bavet, especially close to the casinos near the border, such as the casino Mopa Pai, range from $ 1 million to $ 3 million per hectare, while land adjoining Le Mugau casino is worth $ 4 million per hectare .
Unused agricultural land goes for $ 10 to $ 20, rising to $ 30 per square meter with road access. Along National Road # 1 costs are $ 80 per square meter.
Souloung Soeung, a board member of Heng Hiep Company, which is developing the satellite city Heng Heng, said that the company was investing $ 1.7 billion over approximately 2,000 hectares of land for hotels and resorts in Preah Sihanouk and Pursat provinces, and in Bavet.
There is an area around 7 hectares under construction for hotels, casinos, office buildings, apartments, shopping and recreation in the town to contribute to the development of the city life.
Dr. Kim Heang, president of the Association of Valuers and Real Estate Agencies of Cambodia, said last week that Bavet currently has 5 special economic zones in the city, employing tens of thousands of people, with Chinese investment fuelling growth.
“With current growth and investment activities, land prices have doubled compared to last year and people living in this city are enjoying the developments of this city.”
Currently, about 20,000 people,
Svay Rieng: Land prices and buildings in Bavet are skyrocketing, especially in downtown Bavet One time, Chinese people came to the market to buy land, build high-rise buildings for businesses such as condominiums, hotels, guesthouses, casinos, clubs, supermarkets. And shopping malls.
Today, Chinese businesses have launched a series of Chinese-branded trademarks in the streets Historically an unexpected landmark for Svay Rieng Province. Also, national and international tourists are busy traveling in the international border of Bavet, Economic growth is noticeable.
What people are impressed with and surprised is that the trademark and the trademark of Pan-Han cross the main road between Khmer and Chinese. Named “Heng Heng City” and more specifically, before that, the province had spent the Vietnamese dong, the riel and the US dollar. But now, there is also full yuan yuan circulation Chinese shops in the area.
The city of Bavet has said that modern-day Bavaria has developed a very different development, such as the sky and the land, especially after the people China invested in investment projects, making the economy rapidly expanding.
In fact, he said, “Before the city of Bavet spread the Vietnamese dong, then the riel and the dollar because most of the goods were imported. Since Vietnam and Vietnamese come to play casinos, the flow of the country’s currency is also high, Chinese investors have come to a strong upheaval in the growth of yuan circulation in China Shopping high especially in China anyway.
“The circulation of the yuan is mostly in Chinese shops and businesses, because the Chinese market is But Chinese only buy. Even though we benefit from these investments, we still lose some of the benefits of foreign currency distributions. Like this. “
Seavy governor Seang Seila said on the morning of December 4 that the progress of the city because of the presence Chinese come in many. In fact, the project of Heng Heng Satellite City, which is owned by Oknha Lom Hour on a land area of almost 10 hectares, Chinese and invested in Chinese companies. “Without China, investing or renting and buying can not work,” he said.
“The value of land and real estate is mainly due to the Chinese buying and buying of Chinese only in the downtown area,” he said. Ba Vi Bavet, especially close to the casinos near the border, such as the casino Mopa Pai, ranging from $ 1 million to $ 3 million. USD 1 million per hectare, the land adjoining Le Mugau casino worth $ 4 million per hectare .
“For land vacancies or rice fields, there are also increases compared to previous years, if land has not been filled in 1 square meter for $ 10 to $ 20, street lane along the road for $ 30 per square meter, Along National Road # 1 cost $ 80 per square meter and adjacent land Bet 1 in Port neighborhood Baptist peppers in 1 square meter price of $ 20.
However, the activity of the plots of land plots is also in the market, starting to boom after the election of the sixth mandate and then special After the Chinese come to invest and stay in the trade and do much work here.
Souloung Soeung, a board member of Heng Hiep Company, which is developing the satellite city Heng Heng, said that the company was investing $ 1.7 billion over Approximately 2,000 hectares of land for hotels, resorts in Preah Sihanouk and Pursat provinces, and in Bavet, the company There is an area under construction 7 hectares for the construction of hotels, casinos, office buildings, apartments, shopping and Ramon and recreation clubs, etc. to contribute to the development of the city life.
Dr. Kim Heang, president of the Association of Valuers and Real Estate Agencies of Cambodia, said last week that Bavet has The development activity, as there are currently 5 special economic zones in the city, employing tens of thousands of people, especially Chinese Investment Into More and more weight in the city, making commercial activities more fulfilling.
“With current growth and investment activities, land prices have doubled compared to last year and “People living in this city are enjoying the development of this city.”
Currently, about 20,000 foreigners from Japan, Korea, Vietnam. , Philippines, Indonesia and China are living in the town, and the Bavet Administration is also planning to make a census foreigners to ease management of them.
According to the governor of Bavet city, Seng Seila, Bavet City planning to run a census for foreigners staying in the city. Any found a living, working without correct documents will be punished” he said.
