Property prices ...

[Dacah]

Last March I did a tentative deal on a small abandoned property in Kep...

Nothing was signed...however I did engage a Lawyer to form a Cambodian Company

That aside...the following happened..

Back to Kep in July and met up with my contact...

We greet each other warmly in Kampot and agree to meet up in the morning to go to Kep and see the

property again....it was still there and there was papers of some sort

Bombshell.....price had gone up from $70,000 to $200,000 !!!!

Coundnt believe it...thought it was a joke ...

So after a very quiet journey back to Kampot ...

I played the waiting game...

Im still playing...not a word...just as well


PS....some days later the investment that was going to pay for the place ...collapsed

Lucky me 

[Casper]

Could have been so much worse Dacah!

Property prices are crazy at the moment, they're already higher than most of Thailand and I really can see no justification for the pricing level.

That said, 70, would have been 'nice' ........ 200k wouldn't

[Dacah]

Just the reason that you and I love Cambodia Casper....

World events take time to filter through...

Property prices...well that will collapse ...

Seen it here in Ireland ..

Property prices here due to go down in real terms 50% over the next few years..

Wont go on with the "Doom and Gloom " brigrade

I think there are oppertunities (sic) in Snooky ...

Long term ones that get it right for the "New Market"..

Its all about timeing...looking forward

[Casper]

Best attitude ....... Sihanoukville and the coast can and will only be a tourist destination, and due to the small size of actual coastline ..... prices will always be at a premium over other parts of Cambodia.

That said, it's not Phuket ......... it's not even Pattaya if you are looking for 1st world facilities and infrastructure.

[Dacah]

I see Sokha have now started on their new venture...

A 5 star hotel, apartments and another effort at a golf course on Ochtu...l Beach...

Sok Kong  ( Viet ) is the richest businessman in Cambodia...

controls Sokimex with Tela ....80% of all domestic oil and gas

Former Chairman of Phom Phens Chamber of  Commerce and good friend of Hun Sen

I think his vision of the coast is quite different to what is there now...

and he has a land bank that will be insure construction on a massive scale...

also with his connections ( Prime Ministers family ) wanting to be part of the new Cambodia..

New Cambodia will be oil rich in another 3 years...and  IMO another Nigeria

My chioce to buy some land has always been Kep...

Now after much research ...I have found that

Yes Sokimex has plans for there too...

It seems they want build right in the middle !!! where the picnic tables are

They have offered the 66 vendors $2000 each to get lost !!!

What I have liked about Cambodia is going to be lost...and very soon it seems

[Dacah]

This is a bit I found .............

Destruction of beach vendor wooden structures to make place for Sok Kong, the tycoon-friend of prime minister Hun Sen, to build a multi-million dollar resort. Chev Kim Heng, the municipal vice governor of Sihanoukville, said that future visitors to Ochateal beach may need to pay fees to use it. This is the same scheme used by Sok Kong in collecting fees to visitors of Angkor Wat. No information is provided on the fee collected by the government for the lease of the land to Sok Kong. (Photo: Ta Soam, Koh Santepheap Newspaper)


Monday, July 3, 2006

S'ville Vendors Who Lost Their Homes Seek To Rebuild Nearby

By Kay Kimsong and Jason McBride THE CAMBODIA DAILY


Ochateal beach vendors, whose wooden structures were bulldozed during an eviction on June 27, have written to Sihanoukville municipal authorities asking them to be allowed to rebuild their businesses and homes at nearby Otres beach, vendors said Thursday.

"We slept under the sky," said Thai Leng on Friday, a mother of four and one of 32 vendors who lost their businesses in the demolition.

Sihanoukville Municipal Vice Governor Chev Kim Heng said that he had not yet seen the letter from the vendors and did not know how the municipality would respond.

The municipality has leased Ochateal beach to businessman Sok Kong, Sokimex petroleum company president, for the construction of a 500-room, multimillion-dollar resort hotel, he said.

Sok Kong, whose company owns the luxury Sokha Hotel on nearby Sokha beach, has been granted a 99-year lease from the government to build a new hotel on the 43 hectares of land around Ochateal beach.

"We can't keep the beach in today's condition," Sok Kong said on Friday. "It must meet international standards."

Vendors may be allowed to return and rent plots from the company once construction of the resort is complete, Sok Kong said. The development is estimated to cost around $80 million, but details have not been worked out yet, he added.

Chev Kim Heng said that future visitors to Ochateal beach may need to pay fees to use it. "Like Sokha beach, the public could go there... but they may need to pay fees," he said.

Srey Vuthy, chief of Sihanoukville tourism police, said on Sunday that most of the evicted vendors were not seriously affected by the destruction of their beachside businesses, as most had houses in the port city.

Thai Leng disputed that assertion. "Some of the vendors are not residents of Sihanoukville. They are from Kompong Cham and other provinces," she said.

Sok Buy, 55, who lost a restaurant in the eviction, said that the municipality had caused economic hardship to the evicted families. "We have no homes to live in now," she said. "We face difficulty living."

Posted by KI Media | Permalink |   

[Casper]

Things generally seem to take a long time to happen here, that said normally after sometimes years of 'rumours', once they make up their mind to 'act' ....... it's swift and forceful, as we've seen with the restaurants on the way down to Otres

[Dacah]

The goverment want the beaches like Sohka Beach...

the locals will have to pay $6.00 for use... no way!!!!

Dual pricing has to come into effect...?

I hope not ...what happens to places like The Dolphin for locals late at night..




"The times are a changing"



It really looks like the islands are the future for the more laid back

 the forward thinking..

 Otres on the mainland ...

and of course ...The Hill still has a lot more to offer

IMO Downtown looks the best for a short term safeish investment !!

( as long as the bus station is there....and the airport isnt operational )



When ( not if ) the airport is working...

Things will change dramatically...

anywhere within 1 hours drive from the airport will be game

Not just thinking of just direct tourist things...

Growing fresh veg and herbs for the better restaurants...

Organic and free range chickens...

Patrner did these successfully.... good cooks need good ingrediants

There are lots of long term oppertunities in Cambo

for the young and the brave...


Unfortunatly I aint young...

[Casper]

Did you ever get to visit Ream National Park Dacah? The bay and beach there is pretty good and despite it being a 'national park' i'll put money on some big development there once the airport opens.

[Dacah]

Have not been in Ream...I did hear that there are plans for a resort there..

Maybe if I get a decent bike this time I will make it !!!