Boom to bust for Cambodia’s Chinese casino town

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kgbagent
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Re: Boom to bust for Cambodia’s Chinese casino town

Post by kgbagent » Sun Nov 10, 2019 3:42 pm

AndyKK wrote:
Sun Nov 10, 2019 7:48 am
I would think the last statement sums things up in a nutshell. See in a few years time.
Has for Sihanoukville I would not like to live there with the problems of being down to a over build boom with problems, flooding and rubbish brings health problems, nevermind high costs. It makes sense that people leave.
It may have been or still is the big casino town, but there are plenty more here, and some with empty card tables due to lack of customers. But still there are plenty of Chinese in these places, so what are they doing? Some I hear are employing local people now to fill the gaps of the leavers, at $600 per month salary makes factory workers look poor again.
Bokor is a ghost mountain without it's customers playing the table's but pleanty of young Chinese workers and development going on.
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That particular building site had about 80-100 workers 2 months ago - last week I counted about 10
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Re: Boom to bust for Cambodia’s Chinese casino town

Post by jd1965 » Sun Nov 10, 2019 4:04 pm

AndyKK wrote:
Sat Nov 09, 2019 9:15 am
Duncan wrote:
Sat Nov 09, 2019 9:09 am
Is it only me that has noticed that as I walk around the city, there quite a few new Chinese shops opening in PP . Perhaps the exodus of Chinese from Chinaville has moved to PP where there are more people and business opportunities.
Only! Quite a few new Chinese shops opening in PP .
[Mod edited: please don't use racist language. For all you know, they might not like the Phlegmish]
Chinese have been flooding the capital for years now. Just look at places like Olympia City. All purpously built for Chinese and many more springing up every day. Walk into Lucky or any other major supermarket or shopping centre all over the city and all you see is massive amounts of them acting like they own the place.
As for gambling, the man in charge owns the ones that are well known and he won't allow any others to be built that are not under his control.
Chinese, don't get me started on them...
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Re: Boom to bust for Cambodia’s Chinese casino town

Post by AndyKK » Sun Nov 10, 2019 5:13 pm

kgbagent wrote:
Sun Nov 10, 2019 3:42 pm
AndyKK wrote:
Sun Nov 10, 2019 7:48 am
I would think the last statement sums things up in a nutshell. See in a few years time.
Has for Sihanoukville I would not like to live there with the problems of being down to a over build boom with problems, flooding and rubbish brings health problems, nevermind high costs. It makes sense that people leave.
It may have been or still is the big casino town, but there are plenty more here, and some with empty card tables due to lack of customers. But still there are plenty of Chinese in these places, so what are they doing? Some I hear are employing local people now to fill the gaps of the leavers, at $600 per month salary makes factory workers look poor again.
Bokor is a ghost mountain without it's customers playing the table's but pleanty of young Chinese workers and development going on.
Image
That particular building site had about 80-100 workers 2 months ago - last week I counted about 10
Yes I certainly would not disagree with you kgbagent, I was up there late Saturday afternoon mainly for the cool air. When I was to first set eyes on the buildings after passing the so called new unfinished gatehouse.
"my thoughts were the buildings we refer too are very nice". To me at the distance, was admiring the well cut and fixed stone of the end walls, again I was soon to be disappointed the closer I was getting. Concrete and breeze block was the result, if the 5 story building is that of apartments the new tenants or owner will be closely overlooked by their naigbours.
So it's holiday weekend and could be the result of the down scale workforce, but I would think has I was riding toward the new concrete monstrous three block development it was hard not to hear the chainsaws and heavy machinery at work felling the huge area of trees, possibly the workforce that you had previously seen on the building are now on good overtime rates, as treefellers.
That is another thing I don't see the reasoning of why, if the Khmer put up a plot of land for sale they just flatten it, riping at the trees out, why not do a little landscape gardening leaving the big lumber and fruit trees in place for the new owners to decide there fate.
Has I rode on thinking of this being a national park approaching the casino with not a car parked in the huge carpark, but a tent exhibition in the lower parking area, still without a customer in sight. But many Chinese workers changing shifts and coming and going on the buses.
The Temple had many visitors 😁

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Re: Boom to bust for Cambodia’s Chinese casino town

Post by adders28 » Sun Nov 10, 2019 6:55 pm

Pablo254 wrote:
Sat Nov 09, 2019 9:30 pm
You might find a room for 150 in klang Ler near the brewery but not downtown. I'm paying 3 ton rn.
do you want the phone number its near psar leu

I used to pay 300 its 200 now
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Re: Boom to bust for Cambodia’s Chinese casino town

Post by adders28 » Sun Nov 10, 2019 6:58 pm

rogerrabbit wrote:
Sat Nov 09, 2019 10:54 pm
adders28 wrote:
Sat Nov 09, 2019 9:42 pm
rogerrabbit wrote:
Sat Nov 09, 2019 9:22 pm
adders28 wrote:
Sat Nov 09, 2019 9:13 pm
rogerrabbit wrote:
Sat Nov 09, 2019 3:33 pm


This article is again just a copy & paste from the old article as it has all the same "facts" that are based on stuff that are not true. Like that "6,000 Chinese nationals left Sihanoukville every day" is based on that paper note that someone shared on Facebook. Numbers on that note has already multiple times proven to be wrong.
the amount of empty apartments says its true and rooms now for 150 a month plus less traffic confirm it
Are you even here in shv? take a look around
Did you read the article at all? It doesn't say anything about $150 rooms or empty apartments. And no, I'm not there but I do go there frequently and I know very well whats happening there. Yes, rents have dropped and old properties start to be available again in more reasonable prices. But the reason why rents have dropped is not only because of "mass exodus". And less traffic compared to couple months ago? Yes but compared to say +12 months ago, no, there is still far more traffic than 2018.
i dont need to read the article, ok figures probably exagerated but its getting like a ghost town here, traffic is only busy in rush hour but yes worse than years ago, quieter than 6months ago
construction come to a stop, lots of empty buildings, architect and agents saying the same
i have photos of buildings that are empty due to online gambling ban, rooms with bunk beds (empty) they can not rent them out
the ban and bubble bursting in china are to blame what else?
even chinese media has reported the same now
Yeah some construction sites that have stopped. But it doesn't mean all have stopped. Quite far from it really. Some have stopped because some Chinese left and these were cheap projects targeted for this particular group of people. Some have just slow down as it's was first holiday season in China and now locals have been on holidays. Outside it does look like nothing happening but there is still progress made. And then some didn't have all the paper work done so they have paused so that paperworks gets cleared. But many of the projects are still progressing full steam and some new, and really huge ones too, have just started even.

Some older building and these "cheapo" bunk bed buildings particular are empty because many of the new building have completed. I know my local friend was able to rent all his 30 units in his new building to Chinese just within in a week from completion.

The market is evolving and saying bubble has burst shows you don't know what is really going on there. You will see in few years of time.
so you know more than pretty much every economist, IMF , World Bank etc and all data coming out of china , fair enough no point commenting then
adders28
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Re: Boom to bust for Cambodia’s Chinese casino town

Post by adders28 » Sun Nov 10, 2019 7:01 pm

adders28 wrote:
Sun Nov 10, 2019 6:58 pm
rogerrabbit wrote:
Sat Nov 09, 2019 10:54 pm
adders28 wrote:
Sat Nov 09, 2019 9:42 pm
rogerrabbit wrote:
Sat Nov 09, 2019 9:22 pm
adders28 wrote:
Sat Nov 09, 2019 9:13 pm

the amount of empty apartments says its true and rooms now for 150 a month plus less traffic confirm it
Are you even here in shv? take a look around
Did you read the article at all? It doesn't say anything about $150 rooms or empty apartments. And no, I'm not there but I do go there frequently and I know very well whats happening there. Yes, rents have dropped and old properties start to be available again in more reasonable prices. But the reason why rents have dropped is not only because of "mass exodus". And less traffic compared to couple months ago? Yes but compared to say +12 months ago, no, there is still far more traffic than 2018.
i dont need to read the article, ok figures probably exagerated but its getting like a ghost town here, traffic is only busy in rush hour but yes worse than years ago, quieter than 6months ago
construction come to a stop, lots of empty buildings, architect and agents saying the same
i have photos of buildings that are empty due to online gambling ban, rooms with bunk beds (empty) they can not rent them out
the ban and bubble bursting in china are to blame what else?
even chinese media has reported the same now
Yeah some construction sites that have stopped. But it doesn't mean all have stopped. Quite far from it really. Some have stopped because some Chinese left and these were cheap projects targeted for this particular group of people. Some have just slow down as it's was first holiday season in China and now locals have been on holidays. Outside it does look like nothing happening but there is still progress made. And then some didn't have all the paper work done so they have paused so that paperworks gets cleared. But many of the projects are still progressing full steam and some new, and really huge ones too, have just started even.

Some older building and these "cheapo" bunk bed buildings particular are empty because many of the new building have completed. I know my local friend was able to rent all his 30 units in his new building to Chinese just within in a week from completion.

The market is evolving and saying bubble has burst shows you don't know what is really going on there. You will see in few years of time.
so you know more than pretty much every economist, IMF , World Bank etc and all data coming out of china , fair enough no point commenting then
https://www.aljazeera.com/ajimpact/chin ... 48056.html
https://www.scmp.com/economy/china-econ ... used-slump
rogerrabbit
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Re: Boom to bust for Cambodia’s Chinese casino town

Post by rogerrabbit » Sun Nov 10, 2019 9:37 pm

adders28 wrote:
Sun Nov 10, 2019 7:01 pm
adders28 wrote:
Sun Nov 10, 2019 6:58 pm
rogerrabbit wrote:
Sat Nov 09, 2019 10:54 pm
adders28 wrote:
Sat Nov 09, 2019 9:42 pm
rogerrabbit wrote:
Sat Nov 09, 2019 9:22 pm


Did you read the article at all? It doesn't say anything about $150 rooms or empty apartments. And no, I'm not there but I do go there frequently and I know very well whats happening there. Yes, rents have dropped and old properties start to be available again in more reasonable prices. But the reason why rents have dropped is not only because of "mass exodus". And less traffic compared to couple months ago? Yes but compared to say +12 months ago, no, there is still far more traffic than 2018.
i dont need to read the article, ok figures probably exagerated but its getting like a ghost town here, traffic is only busy in rush hour but yes worse than years ago, quieter than 6months ago
construction come to a stop, lots of empty buildings, architect and agents saying the same
i have photos of buildings that are empty due to online gambling ban, rooms with bunk beds (empty) they can not rent them out
the ban and bubble bursting in china are to blame what else?
even chinese media has reported the same now
Yeah some construction sites that have stopped. But it doesn't mean all have stopped. Quite far from it really. Some have stopped because some Chinese left and these were cheap projects targeted for this particular group of people. Some have just slow down as it's was first holiday season in China and now locals have been on holidays. Outside it does look like nothing happening but there is still progress made. And then some didn't have all the paper work done so they have paused so that paperworks gets cleared. But many of the projects are still progressing full steam and some new, and really huge ones too, have just started even.

Some older building and these "cheapo" bunk bed buildings particular are empty because many of the new building have completed. I know my local friend was able to rent all his 30 units in his new building to Chinese just within in a week from completion.

The market is evolving and saying bubble has burst shows you don't know what is really going on there. You will see in few years of time.
so you know more than pretty much every economist, IMF , World Bank etc and all data coming out of china , fair enough no point commenting then
https://www.aljazeera.com/ajimpact/chin ... 48056.html
https://www.scmp.com/economy/china-econ ... used-slump
I thought we were talking about Sihanoukville?
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Re: Boom to bust for Cambodia’s Chinese casino town

Post by CEOCambodiaNews » Fri Dec 27, 2019 7:38 am

Sihanoukville, Cambodia News: The property rental business is not the only business suffering from the exodus of Chinese nationals from Sihanoukville; the car rental business in Sihanoukville is also feeling the crunch.

When the Chinese casino boom began, enterprising Cambodians borrowed money to buy luxury vehicles that were then rented to the Chinese for sums such as US$7-8000 a month. Now the customers are scarce, and rental prices for vehicles are reported to have fallen by 50%.
How many of these cars are still being paid off by their owners ? It is feared that many Cambodians who were riding the Chinese boom in Sihanoukville on borrowed money will feel the pain of the nationwide online gambling ban which comes into force on 31 December 2019.
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Re: Boom to bust for Cambodia’s Chinese casino town

Post by Kammekor » Fri Dec 27, 2019 8:08 am

CEOCambodiaNews wrote:
Fri Dec 27, 2019 7:38 am

When the Chinese casino boom began, enterprising Cambodians borrowed money to buy luxury vehicles that were then rented to the Chinese for sums such as US$7-8000 a month. Now the customers are scarce, and rental prices for vehicles are reported to have fallen by 50%.
No tears here....3.500-4.000 USD rent (edit: per month....) for a 'luxury car' in Cambodia is still way overpriced.....
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