Cambodia PM Hun Manet breaks ground for new super-modern satellite city project just opposite capital


KANDAL, Cambodia (Bernama-Xinhua): Cambodian Prime Minister Hun Manet on Tuesday broke ground for a new satellite city project on Mekong River shores in Arey Ksat city, Kandal province, opposite the capital Phnom Penh.

Located on the eastern shores of the Mekong River overlooking downtown Phnom Penh, the 210-hectare Mekong Quay City project is a joint investment by a local real estate developer, TP Moral Group, and Khun Sea Group.

Speaking at the event, Manet said the project would transform the vacant land into a new city featuring modern commercial buildings, shopping malls, hotels, educational institutions, residential addresses, and cultural and tourism centres, among others.

"The groundbreaking ceremony for this mega-project shows that the real estate sector has begun to recover gradually," he said. "It will help fulfil our people's aspirations and contribute to boosting the nation's economic growth."

The prime minister said the project would boost the development of the real estate sector, investment, trade, hospitality, culture, and tourism in the long term.

Hong Vanak, director of the international economics department at the International Relations Institute of Cambodia under the Royal Academy of Cambodia, said the real estate market remained quiet in 2024.

"We hope the real estate market will recover gradually from 2025 if the garment, footwear and travel goods sector, tourism, agriculture, and foreign direct investment continue their upward trends," he told Xinhua in a recent interview. - Bernama-Xinhua

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Cambodia , Satellite , New City

   

Next In Aseanplus News

Year of the Snake stamps unveiled by Hongkong Post, to go on sale from January 5, 2025
Chinese space defence expert Zhang Xiaoxin dies in car crash in Beijing
HK actor Vinci Wong files for bankruptcy, rumoured to owe RM1.68mil
ESG report of China-Myanmar pipeline project unveiled in Yangon
Cambodia set to make new tourism record by year-end
Australia and Laos work together to improve education sector in Savannakhet
Blackpink’s Lisa shares seductive glimpse of her 'The White Lotus' character
Bruneian man faces a hefty fine of RM33,000 for possessing smuggled cigarettes
South Korean parties clash over justice appointments for Yoon trial
Five 'Geng Heri' members arrested in crackdown

Others Also Read