Sihanoukville’s Ream Bay To Become a US$16-Billion Mega Tourist Attractiongiant
Ream Bay of Preah Sihanouk province will be transformed into a US$16 billion gigantic tourist attraction, spread over 800 hectares of land, according to the Ministry of Land Management, Urban Planning, and Construction.
The project was announced during a meeting between H.E. Chea Sophara, Minister of Land Management, Urban Planning, and Construction, and related authorities on 14 February.
The project has been proposed by Canopy Sands Development Co., Ltd, with the firm planning to invest US$16 billion to develop its 834-hectare land into hotels, restaurants, resorts, residential buildings, conference rooms, business and financial centre, sports centre, and a golf club.
The project also includes the development of two new beaches, which will be open to the public after the completion of the project.
According to the company, the project will be developed phase by phase, with the first phase comprising of infrastructure development set to begin in 2020.
This ‘Ream City’ project is part of the Ministry of Tourism’s project called ‘Naga City’, covering 3,081 hectares of land. The project will connect to Ream Bay, Otres Beach, Ochheuteal Beach, as well as the airport into a significant economic and tourism zone.
Regarding the development in Sihanoukville, the Cambodian government has also recently announced its plan to transform Sihanoukville into an industrial city with special economic zones and manufacturing for exports, similar to the Shenzhen industrial city of China.