IOS: Structures in Sihanoukville Are Expanding Skyward
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While most of the Kingdom's skyscrapers are currently located in the capital, the coastal town of Sihanoukville has been reaching for the skies with its own projects, a government official at the "Tall Buildings Forumâ€ said on 28 June 2018.
Speaking at the meeting organised by the European Chamber of Commerce (EuroCham), the Ministry of Land Management, Urban Planning and Construction's Secretary of State Pen Sophal said most of the 53 buildings higher than five storeys inaugurated in the first five months of this year were in the southern beach town.
He said that the Kingdom now has 1,049 structures that are more than five floors.
"There are currently many high-rise buildings in Phnom Penh, but Preah Sihanouk province has started to develop fast as well" he said.
Tassilo Brinzer, vice chairman of EuroCham, said that the increase in population in the capital has led to the growth of tower blocks in the last decade.
"The increase in land prices in major areas, along with new construction techniques, are growing. Many high-rise buildings are appearing in Cambodia and the challenge is to keep up with the upgrading of building standards.
"With this forum, we will get a lot of experience from experts on the evolution of the technology of high-rise construction and materials" he said.
Chrek Soknim, CEO of real estate company Century 21 Mekong Co Ltd, said Sihanoukville is seen as the second most popular market â€“ after Phnom Penh â€“ for both tourists and investors from China.
"Projects are coming up constantly in Preah Sihanouk province, mostly as condominiums, hotels and casinos" he said.
Last week a $1 billion resort project dubbed Wisney World was launched with plans to bring a water park, hotel and casino to Sihanoukville.
Property Hunter published its second Investing Overseas Series (IOS). Part 2 of the series features Sihanoukville in Cambodia, a majestic and picturesque locale with some of the best beaches the country has to offer. Read the full feature in the series below:
Sihanoukville: Cambodia's New Investment Frontier.