In Brief: Rubies, gold agreement
Friday, 13 November 2009 15:00 Jeremy Mullins
MILLENNIUM International Group LLC has contracted New York-based Terra Insight Services to explore for gold and rubies on a 100-square-kilometre site it has rights to in Cambodia. Terra, a subsidiary of Terra Energy and Resources Technologies, is to conduct a two-phase exploration on a cash and royalties deal. Phase one had already begun, Terra President Alexandre Agaian said Wednesday in a press release.
In Brief: $2.3m building unsold
Friday, 13 November 2009 15:00 Soeun Say
A MULTIMILLION dollar four-storey office building on Phnom Penh's Sihanouk Boulevard is still on the market after five months, said Sen Chan Rietrey, executive director of Cambodia Estate Agent (CEA), which is handling the sale. The building is owned by a Singaporean firm, he said, declining to give the name. The owner is asking US$2.3 million. It went on the market on June 15.
In Brief: Kratie in the triangle
Friday, 13 November 2009 15:00 May Kunmakara
PRIME Minister Hun Sen said Thursday he planned to incorporate Kratie province into the Emerald Triangle Cooperation Framework, a tourism, infrastructure and trade promotion zone linking northeastern Thailand, northwestern Cambodia and southern Laos. Ratanakkiri, Mondulkiri and Stung Treng provinces are already part of the economic zone. He was speaking at a groundbreaking ceremony for a new section of National Road 78, which is being built between O’Pong Moan and Banlung Town in Ratanakkiri province with a $73 million concessional loan from China.
In Brief: New $30m development
Friday, 13 November 2009 15:00 Soeun Say
JAPANESE developer Arakawa Co broke ground Thursday on a US$30 million apartment building in Phnom Penh’s Russei Keo district overlooking the Tonle Sap river. The 16-storey Bellevue Apartment will have 143 residential apartments, a high-tech security system, fitness centre, tennis court, swimming pool and rooftop garden Arakawa Chief Executive Officer Alex Yasumoto said at the event. The apartments will be rented rather than sold, and rental prices will be based on the market at the time, he added. The market is expected to recover once a recovery from the economic crisis kicks in.
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