Master plan of the new satellite city in Prek Leap district.People's Daily News
May 27, 2011
A well-known local firm, Overseas Cambodia Investment Corporation (OCIC), said Friday the firm has received approval-in-principle from Prime Minister Hun Sen to develop a new satellite city in Phnom Penh's Chroy Changvar peninsula.
"Prime Minister Hun Sen has already given the green light for the OCIC to develop the new town, now we're working with the Phnom Penh municipality in order to reach an official agreement,"Pung Kheav Se, president of Canadia bank, the country's third largest bank, and chairman of OCIC, which is the developer of the current Diamond Island City.
The would-be new town dubbed the Chroy Changvar, or "City of the Future" project will cover the area of 387 hectares in Russei Keo district's Prek Leap area, just across Cambodia-Japan Friendship Bridge (Chroy Changvar Bridge) from the central Phnom Penh.
When this new mega-project comes online, it will be the fifth satellite city project in Phnom Penh. The other four developing satellite cities are Camko City, Grand Phnom Penh International City, Koh Pich or Diamond Island City, and Boeung Kak Town.
Pung Kheav Se said that the expected new city would consists of upscale development of residential units, condominiums, commercial venues, shopping malls, financial centers, hotels, recreational facilities, schools, hospitals, park, and a multi-purpose national stadium.
It will take from 10 to 15 years to complete with the estimated investment of 3 billion U.S. dollars.
He declined to disclose where the sources of the capital for the development come from.
The development of new towns is the government's strategy to meet the growing economy and the population growth.
Phnom Penh is currently residing with about 1.5 million people. It is estimated that the growth is about 20 percent year on year, according to the city hall.
Source: Xinhua
"Prime Minister Hun Sen has already given the green light for the OCIC to develop the new town, now we're working with the Phnom Penh municipality in order to reach an official agreement,"Pung Kheav Se, president of Canadia bank, the country's third largest bank, and chairman of OCIC, which is the developer of the current Diamond Island City.
The would-be new town dubbed the Chroy Changvar, or "City of the Future" project will cover the area of 387 hectares in Russei Keo district's Prek Leap area, just across Cambodia-Japan Friendship Bridge (Chroy Changvar Bridge) from the central Phnom Penh.
When this new mega-project comes online, it will be the fifth satellite city project in Phnom Penh. The other four developing satellite cities are Camko City, Grand Phnom Penh International City, Koh Pich or Diamond Island City, and Boeung Kak Town.
Pung Kheav Se said that the expected new city would consists of upscale development of residential units, condominiums, commercial venues, shopping malls, financial centers, hotels, recreational facilities, schools, hospitals, park, and a multi-purpose national stadium.
It will take from 10 to 15 years to complete with the estimated investment of 3 billion U.S. dollars.
He declined to disclose where the sources of the capital for the development come from.
The development of new towns is the government's strategy to meet the growing economy and the population growth.
Phnom Penh is currently residing with about 1.5 million people. It is estimated that the growth is about 20 percent year on year, according to the city hall.
Source: Xinhua
3 comments:
Will there be a waste water treatment plant nearby somewhere and a good sewage system or they just dump the sludge into the Mekong and Tunle Sap ?
Well, the past 30 years nearly every developments are being done by both private and companies individuals. The Cambodian govt or the CPP has nothing to to with the progress in Cambodia.
If Cambodia did not have a govt to rule, maybe the developments would have gone better.
Let see if lies of the CPP can come true when they beg on donors to for almost everything.
Frankly speaking, I do not like the idea of this this new town because it means the CPP is gong to confiscate and rob properties that belong to Khmer and sale to foreigners which has the highest bid.
Khmer people are going to be kicked of their own biggest city.
Bad news!!!!!!!!
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