Wednesday, April 29, 2009

Pearl City in Sihanoukville




Today, Thai Boon Roong , one of local giant Cambodian Company inaugurated its first ambitious real estate development project called “ Pearl City” in Sihanoukville and the ceremony was held under the present of Mr. Excellency Im Chhun Lim, Senior Minister of Land Management and Cadastral Ministry.

According to the Company staff, even amidst the global financial crisis, the Company still decided to start this development project after 4 years of plan studied and it is also considered as the biggest city in Sihanoukville including residential village houses, market, school, hotels, hospital, entertainment and cultural centre, condominium and apartment houses etc…The investment project for its 3 phases during 10 years of the construction development was estimated approximately $600 millions.

This project will contribute to the economic growth, the infrastructure development of Sihanoukville and will help to attract more investments into the area, which has a great potential in the future for both industry investment attraction and tourism destination (with its deeper Sea Port, International Air Port, SEZs, Oil Exploration & Extraction, long beautiful beaches and its Islands…).

During his speech of the inauguration, Mr. Senior Minister has positively confirmed that the construction projects in Cambodia as a whole has dropped only about 2%, which is against the figures of 40% made by the international institution. He said that even some big projects are slowing down during this crisis but numbers of small households or small construction projects are still going on and increasing.

Thai Boon Roong is currently under direct control of Oknha Khov Samath, son of Okhna. Theng Bun Ma. The Company owns Intercontinental Hotel, Mekong Bank, Factories and other real estate lands.


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