Snake Island plans back to the drawing board
A development company with a government concession for a high-end property project on the island of Koh Pos, also known as Snake Island, has announced that it will significantly alter its original plans for the project. The new plan, which must first be submitted for government approval, will raise the project budget from $276 million to $1billion. Keam Kolnead, chief public relations officer of Koh Puos (Cambodia) Investment Group, told the Post in a phone interview that the villa, hotel and office projects on the island have been redrawn to adapt to the current situation. Villas were not selling well due to their large size and nearly $1 million asking price, he said. … The company submitted its first application for the project to the CDC in 2006, when it was planning on investing $276 million in converting the 116-hectare island into a luxury residential and resort complex. …
Siv Meng
http://www.phnompenhpost.com/real-estate/snake-island-plans-back-drawing-board
