Estatedia

Expert warns the land sector impacted from the Mondulkiri airport development project postponed

  • The New Siem Reap International Airport Development Project and the Techo International Airport Development Project are still going smoothly.
  • However, Mondulkiri Airport has been delayed because of the COVID-19 issue.
  • The COVID-19 issue has delayed Mondulkiri Airport’s opening.
  • Before the delayed announcement, many local investors rushed to Mondulkiri to seek land for sale and development.
  • The majority of investment projects by local investors are mostly hotels, restaurants, and resorts of various types.

MONDULKIRI: The Mondulkiri airport project, which had been expected to open in early 2022, has been postponed indefinitely, impacting the province’s land sector.

Meak Rithy Chey, head of Century 21 Zillion Holding’s Mondulkiri division, responded with the Property Area that since the project started and before it was postponed, many local investors rashly went to Mondulkiri to invest in land for sale and development.

However, after the project was postponed, the land sector in Mondulkiri province began to be negatively impacted progressively, “he stated.

“People who used to look for land in Mondulkiri have progressively retreated, and the project they stated will begin development in early 2022,” he added, adding that the cost of land has not decreased considerably. “It’s a touch depressed.”

He went on to say that local investors make up the majority of land and real estate investment in Mondulkiri, with no international investors yet. The majority of investment projects in Mondulkiri are hotels, restaurants, and resorts of various types.

According to Mr. Chrek Soknim, President of the Cambodian Valuers and Estate Agents Association (CVEA), Mondulkiri is a prospective natural resort province. As a result, resorts and tourism-related industries such as hotels, guesthouses, and restaurants will be built in the province.

“In the future, foreign investors may come to Mondulkiri to invest in their individual talents, and the government has developed more convenient routes from Phnom Penh and other provinces to Mondulkiri,” he said.

The construction of Mondulkiri Airport has been delayed because of the COVID-19 issue, according to Sin Chanserivutha, spokeswoman for the Secretary of State for Civil Aviation. Chinese experts have been unable to examine the project’s progress.

However, he stated that Cambodia’s other international airport developments are proceeding satisfactorily, such as the new Siem Reap International Airport Development Project and the Techo International Airport Development Project in Phnom Penh.

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