Questions raised over land sale at lakeside
Developer Shukaku has sold off close to 1.3 hectares of land at the capital’s controversial Boeung Kak lake site to a Singapore-listed HLH Group company, according to a statement from HLH. HLH subsidiary D’Lotus Development purchased the land at Boeung Kak in Daun Penh district for $14.9 million on June 19 with the intention to develop the area into a business and shopping centre, the announcement on the Singapore exchange says. “D’Lotus Development plans to develop [an] office tower, luxury condominiums, and F&B [food and beverage] and retail buildings on the land,” the June 20 SGX statement reads. Other than filling the lake with sand and clearing residential areas, there has been little development at Boeung Kak since Shukaku took over the site, which has been at the centre of years-long land disputes. …
Chan Muyhong
http://www.phnompenhpost.com/business/questions-raised-over-land-sale-lakeside
