PROPERTY firm CB Richard Ellis (CBRE) has been appointed by The Royal Group of Cambodia as its exclusive adviser and sole agent to secure investors for developing the island of Koh Rong.
The diversified Royal Group is headed by Neak Oknha Kith Meng, one of Cambodia’s most prominent tycoons.
CBRE said in a press statement yesterday that the group has been granted a 99-year lease by the Cambodian government to develop Koh Rong, the largest private island in the region.
The Koh Rong archipelago, about half- an-hour by boat from Cambodia’s main coastal town of Sihanoukville, is being marketed as the ‘next Asian Riviera’ along the lines of Phuket, Ko Samui and Bali.
Koh Rong island covers 78 square kilometres, about a third of the size of Thailand’s Ko Samui. The local population totals 1,382 people from 317 families, most of whom live in small fishing villages. The island has 28 white-sand beaches stretching up to 6 km and crystal-clear water comparable to the Maldives. CBRE said development opportunities are now opening up with a new international airport at nearby Sihanoukville currently welcoming chartered flights and private jets.
An environmental impact study is already underway for the development of Koh Rong as ‘Asia’s first environmentally planned island’. A team of international consultants, including Scott Wilson Engineers, will oversee the environmental aspects, while MAP Architects Hong Kong has been engaged to draw up a master plan, which will be rolled out over the next three months.
‘The main focus is on developers with plans for exclusive, environmentally-sensitive tourism projects,’ said David Simister, chairman of CBRE Thailand and Cambodia.
Two or three golf courses can be accommodated on the island, and new projects include plans for organic farming and waste management, as well as improved education, jobs and medical care for the local population.
Source : Business Times – 13 Feb 2010
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