Ly Yong Phat Group Plans $200M Satellite City in Phnom Penh

1,300 hectares of land in Phnom Penh and Kandal province have been privatized and conceded to the LYP Group in order for them to be developed into a satellite city. LYP Group is owned by CPP Senator Ly Yong Phat. Prime Minister Hun Sen signed a sub-decree on February 7, 2011 turning 529 hectares of land in three provinces into state-owned private property.