Intercity Group is announcing that it will build a US$500m integrated leisure and gaming resort complex near the UNESCO World Heritage listed Angkor Wat in Cambodia.
According to its official spokesman, Ben Lee of IGamiX, the Korean company recently acquired the business license from the Cambodian government, and has the concrete and full support of the local government at a time when many international and domestic development projects have been canceled or delayed due to the global economic downturn.
Intercity Group, a property development and architecture design company, announced on December 8th, 2008, that they officially acquired the business license from the Cambodian government to develop “Angkor Park Resort,” an integrated resort.
Since 2006, Intercity Group has been quietly seeking to develop the resort complex with gaming, golf course, hotels, retail, water park etc. near the World Heritage site Angkor Wat in Siem Reap province, Cambodia.
Intercity Group emphasized that the Cambodian government acknowledged that the casino license is the only one to operate casinos in Siem Reap province.
The Angkor Park Resort site is located 20Km north of Angkor Wat remains just outside the designated National Heritage Zone and encompasses a land area of 260,000Km2.
The Angkor Park Resort will incorporate the following components:
1. A full blown casino with about 300 gaming tables plus electronic machines,
2. a luxury boutique hotel, in addition to a 5 and a 4 star hotel (1500 keys total), residential pool villas plus a 200-key condominium,
3. an 18-hole golf course,
4. a water park,
5. shopping malls, duty free shops, a botanical garden, an art gallery, and
6. a convention center, e
Under the slogan “a perfect harmony between the modern civilization and 1,000 years’ of the glorious Angkor history,” the resort will be designed to be in perfect accord with the World Heritage.
The Cambodian government approved the Angkor Park Resort because the tourism infrastructure for visitors is not sufficient to feed, enjoy, and shop for an increasing number of visitors to Angkor Wat every year.
Prime Minister Hun Sen is reported to have a keen interest in the Angkor Park Resort, whilst the Deputy Prime Minister Sok An has also shown his strong support for the project.
Intercity Group plans to raise fund from financial investors and strategic investors in early 2009.
The ground-breaking ceremony is slated to be held in the first quarter of 2009 with Prime Minister Hun Sen expected to preside over the ceremony.
The first phase opening is scheduled to complete in 2010, with the second phase coming on line in 2011.
For any further enquiries, please contact the following:
Ben Lee
Managing Partner
IGamiX Management & Consulting Ltd
Phone: +853 66421010
Email: ben@igamix.com or s_benl@hotmail.com
