Ministry swapped in deal with timber magnate
In yet another land swap deal that will see lucrative state-owned land handed to a private business in exchange for a new building on cheaper land, the Try Pheap Group has built a new headquarters for the Women’s Affairs Ministry in Stung Meanchey commune. In return, the Try Pheap Group will take over the ministry’s prime location on Norodom Boulevard when the ministry vacates it at the end of this month. … Hin Socheat, deputy head of research at the Bonna Realty Group, said Tuesday that commercial property in Daun Penh is worth up to $5,000 to $8,000 per square meter. In Stung Meanchey, commercial property is worth about $1,000 to $1,200 per square meter. The Women’s Affairs Ministry land swap follows a string of similar deals in the heart of Phnom Penh, which have seen dozens of ministries and state buildings handed to private companies.
Aun Pheap and Alex Consiglio
http://www.cambodiadaily.com/news/ministry-swapped-in-deal-with-timber-magnate-59216/
