Chinese satellite city set for Svay Rieng

Three Chinese companies have unveiled a satellite city project in Svay Rieng province. This is another new project for Chinese investors in Cambodia and follows a series of announcements of similarly large projects.

Despite this, a representative of the Bavet municipal authority said he had never received information regarding any satellite city project in Bavet until now.

The companies – Empire State City, Bauing and CFMA – have agreed to build a satellite city in Bavet on 803ha, according to the Cambodia News English (CNE) website.

Nonetheless, Bavet town governor Seng Seila told The Post he had not received any official information or documentation on the development plans for the satellite city in Bavet.

“Despite being a representative of the local authorities, I have not received any official documents relating to the satellite city development project in Bavet as of now,” he said.

Despite the authorities claiming they are unaware of the project, circulation of the news of these investments has been pushing up land prices in Bavet in the last few months.

The president of the Cambodian Valuers and Estate Agents Association (CVEA) Kim Heang said land prices in Bavet have shot up rapidly in the last three to four months, with some areas doubling or tripling in price since the end of the second quarter of 2018.http://www.phnompenhpost.com/business/chinese-satellite-city-set-svay-rieng