The Koh Puis Investment Group has set its sights on building an exclusive resort and casino project in Cambodia. According to multiple reports, the company is already lining up investors for the project and is targeting the Morakot Island off the coast of Sihanoukville, Cambodia as the location of the resort.
Plans call for the company to develop one six-star resort, two five-star hotels, a four-star casino hotel, a VIP casino, a marina yacht and Beach Club, and a slew of entertainment facilities, including bars, restaurants, a spa and fitness center, and a marina village, among other things.
The location was largely unknown as recently as the past decade. Access was difficult back then and the only people who frequented the area were backpackers enjoying adventures off the beaten path. But with a new international airport within the vicinity, the island has become a popular attraction among locals and tourists, making it an intriguing site to develop a world-class integrated resort and casino.
An investment report by Ptolemy Capital hinted at the enormous potential of the site, calling an untapped goldmine that’s ripe for development. “The secret is out and the past five years land prices have trebled and quadrupled as the international airport now makes the location easy to reach and double digit growth on the tourist numbers every year,” the report said.
The Koh Puis investment group has so far spent $126 million on the project, including building a 985-meter bridge from Koh Puis to the mainland. In addition, it has also obtained in-principle approval from the government for the casino, a construction permit, and an assessment of environment and social impacts.
The firm has also inked deals with both the Ritz Carlton and Renaissance to operate the island hotels.
Over in Saipan, Alter City Group has taken significant steps forwards with its plan to build an integrated resort and casino in Tinian. According to the Marianas Variety, the Macau-based investor has lined up three Chinese construction firms, including China Construction Group, to discuss construction details of the proposed resort and casino at Puntan Diablo.
“We have been talking with various construction companies about assisting us and we are learning about local law and regulations,” said Alter City Group Executive Vice President Ken Lin.
Lin also acknowledged that there are still a handful of challenges that need to be sorted out before the project goes smoothly, including labor, construction, and infrastructure issues. That said, the Alter City VP remains confident that all the kinks will be sorted out and that development for the project will go through as scheduled.
