Four Companies Join Forces to Redevelop Sihanoukvill City into a Fintech Hub and Elite Club
PR93256
PHNOM PENH, Cambodia, Dec. 1, 2021 /PRNewswire=KYODO JBN/--
-Attracting International Talent Following Multipurpose SEZ Master Plan
Announced November 17th 2021
Continent Assets Management Co., Ltd, PLMP Venture Capital Co., Ltd, PropNex
Cambodia Co., Ltd and Ly Ly Kampong Seila Special Economic Zone Co., Ltd signed
a memorandum of understanding (MOU) on November 17th 2021, to join strategic
cooperation in designing new investment projects in Sihanoukville Fintech Hub
City under the honorable presences of Governor Kuoch Chamroeun and Master Plan
Project Director, Chea Kok Hong following the government multipurpose SEZ
master plan announcement last month.
Twenty years ago, Sihanoukville City was a sleepy fishing village, similar to
the origins of Shenzhen. The real estate market took off from about 2015, which
centers around casino, hotel and condominium complexes development. As a
result, the current market's real estate stock has risen from about 200
projects in 2015 to about 1,580 in 2021. However, the COVID-19 pandemic had
impacted real estate industry, affecting 75% of projects and slowdown in
development. Also, the Cambodia government issued strong mandate last year to
ban of online gaming that resulted in massive cleanup to rebuilding a cohesive
and safe community for the new economic initiatives, such as Fintech Hub,
representing multibillion of investment opportunities for international
participation.
Thus, this MOU aims to launch the first Sihanoukville re-development projects
cum Fintech Hub platform to strengthen, diversify, and bring in new business
income models alongside the government-led Sihanoukville master plan vision.
The focus will be on restructuring the under-developed assets, which will
create new markets to attract international talents and entrepreneurship
clusters driven by financial and technology innovators by promoting world class
lifestyle facilities with top educational and vocational training institutes to
develop Sihanoukville City into a vibrant e-community. The project also
provision to attract retirement village development offering high yield
property investment and advance health care support and tele-medicine
facilities integrated into a luxurious service project development.
Since the Sihanoukville city's location is the strategic corner of the
Asia-Pacific region with deep sea port supporting SEZ developments and new
economic thrust to support its growth, the group is expected to make the best
out of this strategic location and timing to rebrand the city as the new
important landmark that can live up with the upcoming demand of e-community in
this digital age evolution inline with Cambodia STI Roadmap 2030.
By seeing momentum in big-scale infrastructure projects into the city over the
years with the right market conditions and strong support from the government
for productive services and innovative products to scale, a Fintech sandbox
community, the elite club and innovative lifestyle services will formulate new
project development modalities and at the same time, revitalize a good
development image of the Sihanoukville City redevelopment master plan.
Related Links:
For Cambodia Foreign Direct Investment please contact us: enquiry@plmpvc.com,
http://m.en.freshnewsasia.com/index.php/en/localnews/25691-2021-11-18-03-37-23.html
https://continentasset.com, https://www.propnexkh.com,
https://www.kampongseilasez.com
SOURCE: PLMP Venture Capital
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