Chinese firm eyes $3bn luxury hotel project

Chinese real estate developer Guangzhou R&F Properties will invest $3 billion into a new luxury hotel venture in the Kingdom. The announcement, posted on Prime Minister Hun Sen’s Facebook page yesterday, came following a meeting between Zhang Li, the company’s president, and the prime minister.

Li recently met Cambodian tycoon Kith Meng to discuss potential projects in Phnom Penh and Sihanoukville, including plans to build a “six star” hotel. The PM expressed his strong support for the investment plan, citing the growing demand for luxury hotel services in the country.

phnompenh post

>   Plans afoot to expand the capital through land rezoning (30/12/2016)

>   Real estate investment caps off 2016 at record levels (30/12/2016)

>   A year of progress sees high-end condos toeing completion (30/12/2016)

>   Real estate market still attractive, but headwinds remain in 2017 (30/12/2016)

>   Issues confront proposal to make Vihear Sour provincial capital (23/12/2016)

>   Condo situation draws contrasting assessments (23/12/2016)

>   Boutique developer keeps to 'quality and trust are everything' stance (27/12/2016)

>   BKK1 continues to undergo F&B franchise boom (23/12/2016)

>   Southeast Asia’s tallest building pushed back to mid-2017 (23/12/2016)

>   Amid unrelenting land value growth, rent market still robust – for now (16/12/2016)