Chinese property giant to invest $3B in hotels, PP,SHV.

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Luigi
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Re: Chinese property giant to invest $3B in hotels, PP,SHV.

Postby Luigi » Sun Mar 19, 2017 6:06 pm

CEOCambodiaNews wrote:
Sun Mar 19, 2017 11:17 am
Shame, but the $3B 6 star hotel projects for Cambodia are not ready to roll just yet, due to problems with Chinese capital controls apparently.

Capital controls hold back Chinese developer
Wed, 15 March 2017

The head of Chinese real estate developer Guangzhou R&F Properties, which has announced plans to invest $3 billion into a new luxury hotel in the Kingdom, has asked Chinese authorities to fast track its approval process for moving cash out of the mainland, according to a report yesterday in the South China Morning Post.

Zhang Li, founder and co-chairman of Hong Kong-listed firm, was quoted as saying that the project was a special case under China’s “One Belt, One Road” initiative.

“Current capital controls are too tight,” he said. “We will repatriate the money back to China if we make a profit outside.” Li previously met Royal Group’s Kith Meng to discuss developing a “six star” hotel in Phnom Penh or Sihanoukville.
http://www.phnompenhpost.com/business/c ... -developer

Interesting how Zhang Li describes his multi-billion dollar hotel scheme as a "residential and agricultural development programme in Cambodia" here:
“We applied for US$1 billion worth of overseas investment quota to the state foreign exchange authority more than two months ago, but have not yet received approval,” Zhang Li, founder and co-chairman of Hong Kong-listed R&F Properties told the South China Morning Postin Beijing on Sunday.
The most urgent projects included the acquisition of a chromium mine in Angola, and a residential and agricultural development programme in Cambodia, Zhang said.
http://www.scmp.com/business/companies/ ... cquisition
The residents will have an herb garden on their patio. It is a six star something. :popcorn:
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Duncan
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Re: Chinese property giant to invest $3B in hotels, PP,SHV.

Postby Duncan » Sun Mar 19, 2017 7:14 pm

“We will repatriate the money back to China if we make a profit outside.”
----------------------------------------------------------------------------------------------------
Written in stone.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
Anchor Moy
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Re: Chinese property giant to invest $3B in hotels, PP,SHV.

Postby Anchor Moy » Sun Mar 19, 2017 9:03 pm

Duncan wrote:
Sun Mar 19, 2017 7:14 pm
“We will repatriate the money back to China if we make a profit outside.”
----------------------------------------------------------------------------------------------------
Written in stone.
Yeah, I really "liked" this phrase. :thumb:
It's good for Cambodia, but all the profits go to China.
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Duncan
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Re: Chinese property giant to invest $3B in hotels, PP,SHV.

Postby Duncan » Mon Mar 20, 2017 6:17 am

Anchor Moy wrote:
Sun Mar 19, 2017 9:03 pm
Duncan wrote:
Sun Mar 19, 2017 7:14 pm
“We will repatriate the money back to China if we make a profit outside.”
----------------------------------------------------------------------------------------------------
Written in stone.
Yeah, I really "liked" this phrase. :thumb:
It's good for Cambodia, but all the profits go to China.
I liked the word,,,,, if,,,,,, that was included in the statement.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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SinnSisamouth
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Re: Chinese property giant to invest $3B in hotels, PP,SHV.

Postby SinnSisamouth » Mon Mar 20, 2017 9:08 am

cant believe any expat buys land in this country

they cant even own it anyway!

mugs
i am on these blocked lists;
pucketrichard
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:fuckyou:
taabarang
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Re: Chinese property giant to invest $3B in hotels, PP,SHV.

Postby taabarang » Mon Mar 20, 2017 12:29 pm

"cant believe any expat buys land in this country"
they cant even own it anyway!"

Actually I am a 49% owner of the property my wife and I own. Beats the hell out of paying rent for the last 16 years.
A fost odata ca niciodata. De n-ar fi nu s-ar povesti.
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Duncan
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Re: Chinese property giant to invest $3B in hotels, PP,SHV.

Postby Duncan » Mon Mar 20, 2017 12:54 pm

SinnSisamouth wrote:
Mon Mar 20, 2017 9:08 am
cant believe any expat buys land in this country

they cant even own it anyway!


mugs
Yea, I will agree with that.



Now let me tell you what I bought for my 70 th birthday present next month. ....The father/ and inlaw gave his daughter and son inlaw a 40 m by 15 m block of land in Sway Reing, ,,and as the 40 m x 20 m block next door was for sale for $3,000 I bought that. I know,, I cannot own land , so I gave it to them as well. They have no money so I guess I'll be the one to put a fence around it , build it up , and build a house , plant trees etc.

When I come back in my next life [ as a dog ] I know I will have a nice piece of land to walk around on.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.

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