Logo of Phnom Penh Post newspaper Phnom Penh Post - Four-star hotel in Phnom Penh greenlit

Four-star hotel in Phnom Penh greenlit

Content image - Phnom Penh Post
The hotel will comprise 200 rooms and is expected to create 535 jobs. SUN AND MOON HOTEL CO LTD

Four-star hotel in Phnom Penh greenlit

Investment continues to pour into Cambodia’s tourism sector and hospitality industry, setting an optimistic mood that the Kingdom will soon welcome back international visitors.

The Council for the Development of Cambodia (CDC) has approved local company Sun and Moon Hotel Co Ltd’s $35.2 million four-star hotel project in Phnom Penh.

The hotel will comprise 200 rooms and is expected to create 535 jobs, the CDC said in a press release on Wednesday.

It is located in Chamkarmon district’s Tonle Bassac commune on the northeast corner of Norodom and Monivong boulevards just north of the Monivong Bridge, which crosses the Bassac river and connects Monivong Boulevard to National Road 1 in Chbar Ampov district to the east.

Ann Sothida, the managing director of CBRE Cambodia, the local affiliate of US commercial real estate services and investment firm CBRE Group Inc, on Wednesday said the investment will improve the hospitality industry’s readiness for the expected surge in overseas visitors post-Covid-19.

She said this is the company’s second Western-style luxury hotel in the city centre, after Sun and Moon Urban Hotel on the southeast corner of the intersection of Street 136 with Street 15, in Daun Penh district’s Phsar Kandal I commune.

“I think it [the project] comes at the right time. And when the hotel market rebounds after the Covid-19 crisis, there will be no barriers for the company to expand in the market, given its professional experience. It will be very successful,” she said.

Ministry of Tourism spokesman Top Sopheak told The Post on Wednesday that the investment would further stimulate development in the tourism sector, despite the crippling effects of the pandemic.

The ministry has licensed a total of 2,044 hotel businesses in Cambodia, 343 of which operate in Phnom Penh, he said.

He expressed his optimism that in “the long-term, we will be back to normal for tourists after the Covid-19 situation subsides.”

In mid-April, the Ministry of Economy and Finance said the value of approved construction projects skyrocketed 47 per cent year-on-year to $1.996 billion in the first two months of this year, fuelled mainly by the housing development sector.

It said the Ministry of Land Management, Urban Planning and Construction issued construction permits to 728 projects in the first two months – up 28.1 per cent from 568 in the year-ago period – covering a total of 4.2 million square metres, up 34 per cent year-on-year.

The total investment in the Kingdom’s construction sector reached $11.43 billion last year, up 98.74 per cent compared to 2018’s $5.31 billion, said a land ministry report.

MOST VIEWED

  • Joy as Koh Ker Temple registered by UNESCO

    Cambodia's Koh Ker Temple archaeological site has been officially added to UNESCO’s World Heritage List, during the 45th session of the World Heritage Committee held in Riyadh, Saudi Arabia, on September 17. The ancient temple, also known as Lingapura or Chok Gargyar, is located in

  • Ream base allegations must end, urges official

    A senior government official urges an end to the allegations and suspicions surrounding the development of Cambodia’s Ream Naval Base, now that Prime Minister Hun Manet has addressed the issue on the floor of the 78th UN General Assembly (UNGA 78). Jean-Francois Tain, a geopolitical

  • Cambodia set to celebrate Koh Ker UNESCO listing

    To celebrate the inscription of the Koh Ker archaeological site on UNESCO’s World Heritage List, the Ministry of Cults and Religion has appealed to pagodas and places of worship to celebrate the achievement by ringing bells, shaking rattles and banging gongs on September 20. Venerable

  • CP denied registration documents by ministry

    The Ministry of Interior will not reissue registration documents to the Candlelight Party (CP). Following a September 21 meeting between ministry secretary of state Bun Honn and CP representatives, the ministry cited the fact that there is no relevant law which would authorise it to do

  • Cambodian diaspora laud Manet’s UN Assembly visit

    Members of the Cambodian diaspora are rallying in support of Prime Minister Hun Manet’s forthcoming visit to the 78th UN General Assembly (UNGA 78) in the US’ New York City this week. Their move is an apparent response to a recent call by self-exiled former

  • After three deferrals, Capital Gains Tax to take effect Jan 1, 2024

    The General Department of Taxation (GDT) will implement the Capital Gains Tax starting January 1, 2024 to after being deferred three times as industrial players warn that the implementation might have some negative impact on the property market growth, which is down due to the economic downturn.