Compass Real Estate > Cambodia Real Estate Information > Large -size satellite city will be constructed in Phnom Penh

Large -size satellite city will be constructed in Phnom Penh

2020-05-20
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Summary:The mayor of Phnom Penh, Kuong Sreng , recently issued a notice approving the Overseas Cambodia Investment Corporation (OCIC) to build a concrete cable-stayed bridge to connect Diamond Island to the company ’s newly developed Koh Norea Island Development Zone.

According to a letter submitted by Mayor Kuong Sreng of Phnom Penh to Deputy Prime Minister and he Cambodian Minister for Economy and Finance Aun Pornmoniroth, Overseas Cambodia Investment Corporation also applied for import of machinery and equipment for the construction of the project, involving 40.888580 million.

The letter introduces that Overseas Cambodia Investment Corporation (OCIC) was approved by the Royal Government on October 28, 2018 to invest in the development of Koh Norea Island in the sugar cane park in Phnom Penh. After the completion of this cable-stayed bridge, it will greatly facilitate the cross-strait traffic and relieve the traffic jam of Monivong Bridge.

It is understood that the Overseas Cambodia Investment Corporation (OCIC) 's total investment in the Phum Kaoh Norea area along the Mekong River in Phnom Penh Sugarcane Park is expected to reach US $ 2 billion. It will build a large satellite city of more than 100 hectares, and build bridges to connect Diamond Island to make the satellite city Become a new part of the city center. This means that after the development of Diamond Island, the Overseas Cambodia Investment Corporation will turn the charm of Phnom Penh into prosperous area again.

The Phum Kaoh Norea satellite city is a remarkable investment, which fully complies with the international development of the capital of the fourth ring of Phnom Penh.

The project is located in the front of Chamkarmon district across the Mekong River. The total length of the area along the Mekong River is about 3.5 kilometers.

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