New integrated resort planned for Cambodia
As consumers on the Chinese mainland flock in their droves to the gambling havens that continue to prosper across the country’s regulatory borders in Macau, Laos and Vietnam, an Asia-based real estate developer has announced plans to build a US$400m integrated resort in Cambodia.
South Korea’s Intercity Group plans to start construction in October on a new resort complex near one of Cambodia’s primary tourist draws: the Angkor Wat temple complex, located in Siem Reap Province in the north west of the country.
According to Intercity vice-president James Cho, the as-yet-unnamed development – which holds an investment value equivalent to about four per cent of Cambodia’s gross domestic product – will include a casino, a waterpark, hotels, shopping and convention centres and an 18-hole golf course.
In addition to attracting an increasingly affluent Chinese population base, Cho said the mega-resort was also geared towards bringing in wealthy visitors from other Asian countries, including Thailand, Malaysia and Singapore.