Billion-dollar development planned for Cambodian island
KOH Puos Investment Group (KPIG), a Cyprus-registered company funded by a group of Russian investors, will spend more than US$1 billion on developing a southern Cambodian island into a mixed-use tourism and real estate empire.
The project, to be marketed internationally as Morakot Island, will occupy the 120 hectare Koh Puos island, located off the coast of Sihanoukville.
The development, to be carried out in phases throughout 2016, will comprise of hotels, a casino complex, sports facilities, luxury residential villas and apartment buildings, nature trails and modern landscaped beaches, among others.
Andrew Halturin, COO and project director of KPIG, told TTG Asia e-Daily the group was in talks with several international chains, including Hilton Worldwide, Marriott Hotels and Resorts, Starwood Hotels and Resorts and InterContinental Hotels Group, on hotel development projects.
He said the project will be “far superior than any construction currently in Cambodia and will rival similar developments in Thailand, Vietnam and Malaysia”.
(Sources: Sirima Eamtako, Bangkok, TTGAsia)
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, a Cyprus-registered company funded by a group of Russian investors, will spend more than US$1 billion on developing a southern Cambodian island into a mixed-use tourism and real estate empire.)
