Thursday, November 8, 2007
Will the real estate development on those islands of Sihanoukville become reality?
According to Phnom Penh Post's article in title" Islands in the stream of cash", a massive wave of proposed investment is prompting a sea change off the coast of Sihanoukville Municipality. Billions of dollars worth of development projects are being promised to the Royal Government in the hope of luring 99-year lease agreements for Cambodia's pristine tropical islands. The proposal price tags range from a modest $20 million to 2.5 billions, with economists and observers wondering what these figures mean in real terms, and at what cost to the government?