THE ROYAL SANDS - KOH RONG
BMW 7 Series
The Royal Group is proud to announce that the BMW 7-series, the flagship vehicle of its subsidiary BMW Cambodia, is selected as the “World Luxury Car 2016”.
For more information click http://bit.ly/280fydF or call the BMW hotline +855 78 909090.
The Royal Sands Koh Rong
The Royal Group, in partnership with a Thailand-based Swiss investor, will build a 148-room five-star hotel on Preah Sihanouk’s Koh Rong island, with the group having completed a ground-breaking ceremony on Saturday.
Khin Remy, an assistant to Kith Meng, the chairman of Royal Group, said the new villa-style resort will be called Royal Sands Koh Rong Resort, and will cost $40 million during the first phase of construction.
Construction has started and will be completed by December 2016,” Remy said.
Luzi Matzig, chairman of Thailand-based tourism firm Asian Trails Group and a partner in the project, said that once the resort was completed, tour operators in Cambodia could use the hotel to attract more tourists to the island, especially after they visit popular tourist destinations, like Angkor Wat and Phnom Penh.
Establishing a real estate development company in Cambodia
Cambodian conglomerate Royal Group yesterday signed a $1.5 billion memorandum of understanding with Chinese conglomerate Herun Group to establish a real estate development company in Cambodia, invest in other sectors, and possibly list units of Royal Group on stock exchanges in China, executives from the two conglomerates said.
Herun is looking primarily at opportunities in real-estate development and the vast inventory of properties owned by Royal Group, it said in a press release.
Kith Thieng, vice chairman and managing director of Royal Group, welcomed the tie up with the Chinese investment company and the move to form a joint venture real-estate development company.
“Their company is one of the biggest in China and the Chinese government strongly supports them,” Mr. Thieng said, adding that Herun is entering Cambodia at the right time.
“Their company also aims to cooperate with Royal Group on construction, logistics and agriculture, especially oil exploration,” he added.
Yu Songbo, chairman of Herun Group, praised the investment environment in Cambodia. “The reason that the company chose to partner with Cambodia is the country has a good friendship with China and is at the center of Silk Road “One Belt One Road” [strategy],” he said.
It is partnering with the Royal Group because Royal Group has a good corporate structure as well as leadership,” Mr. Songbo said.
Source: The Khmer Times