*Translated from a Chinese expats WeChat news page
After the Cambodian Prime Minister ordered a ban on online gambling, many of those in the business have left Cambodia. Now real estate and economic analysts claim that this will have a short-term impact on local renters, but will not have a serious impact on Cambodia’s construction and real estate sectors. Now, let’s listen to what local residents think about the above issues.
According to a Chinese translator in Sihanoukville, the investment situation in Sihanoukville is facing some problems since the Royal Government ordered the ban on online gambling. “We predict that other companies and casinos will gradually close down in the next eight months. Even if this is not the case, they may still choose to leave Cambodia to find other new investment locations”.
He disclosed that some companies are now processing their own facilities and some casinos may be converted into hotels in the future to receive ordinary tourists.
Houses that were rented to Chinese people at a rent of $10,000 to 20,000 per month have seen rental prices fall sharply to $4,000 to $5,000 per month. At the same time, the price of renting and renting land will continue to fall.
The more serious problem is that some residents borrowed money from banks to build. They hoped to rent them to Chinese people at a high price. But now many Chinese people have left, and some people have “left without saying goodbye”.
In addition, residents who used installment plans to acquire land in Sihanoukville have already paid the first payment, but they are considering whether to continue to pay, and they may prefer to give up the deposit previously paid.
The problem facing local construction materials companies is that customers have taken their materials but have no money to pay.
After the ban was announced, many Chinese people engaged in online gambling gradually left Westport (SHK), which had a significant impact on the business and life of local residents. However, the benefits saw a reduction in criminal activities such as kidnapping, money laundering, etc. The ban also safeguards the security and order of beautiful Westport.
According to relevant sources, most of the online gamblers who had been sifting away from Cambodia did not return to China, but went to countries such as Africa and the Philippines to continue to work in this industry. (Yong Ping)
