There are big plans ahead for Siem Reap province:
NagaCorp Plans ‘Angkor Lake of Wonder’ Theme Park Resort in Siem Reap
4 min read
Mech Dara
Tue Nov 17, 2020 6:52 pm

Just 500 meters from Angkor temple park grounds, casino operator NagaCorp has proposed a giant 75-hectare resort with theme parks, a “China Town” and hotels that the company compares to Disneyland.

The resort, tentatively named “Angkor Lake of Wonder,” will be situated south of the Angkor Archaeological Park’s protected area in Siem Reap province and is expected to have its initial phase of construction complete by 2025.

NagaCorp, which operates Phnom Penh’s NagaWorld casinos under an exclusive license from the government, announced its “vision” for the non-gambling resort on Sunday.

The government has granted the company a 50-year lease on a “prime piece of development land” just about 500 meters south of the outer restricted zone of the Angkor temple complex, the announcement says.

The first seven to 10 years will be rent-free, with the company paying about $450,000 a year thereafter, with a 5 percent increase every five years. Over the 50 years, Naga would pay a total of at least $21 million, or about $29 per square meter.
Article: https://vodenglish.news/nagacorp-plans- ... siem-reap/

NagaCorp announcement, 15 November 2020:


INVESTMENT COSTS AND PHASING OF ALOW
The implementation of ALOW is expected to be phased. However, the initial phase shall look and feel complete with all the facilities and elements of technology, edutainment, ecology, culture and MICE facilitates. It is expected that the initial phase shall consist of:
1. Naga Water Theme Park;
2. Two hotels: 500 rooms 5-star branded hotel for the mass market and one more 5-star 200 rooms branded hotel with MICE facilities and complete with rich landscaping;
3. Non-motorised boating Canal system with landscaping, a journey of edutainment, cultural artefacts experiences;
4. China Town with covered roofing walkway with Clarke Quay concept, food street, cultural and retail, edutainment experiences;
5. Indoors interactive Hi-Tech Theme Park with elements of history, culture, technology and ecology.The Company’s quantity surveyor anticipates that the initial phase shall be completed by approximately 2025 and shall cost at approximately US$350 million.
The Group anticipates ALOW in Siem Reap shall be completed ahead of the Naga 3 complex if not almost at the same time. The development of the world-class resort in Siem Reap shall contribute towards increasing visitation to the enlarged NagaWorld Complex.

PROPOSED FINANCING AND PROPOSED TURNKEY CONTRACTOR
The Company has engaged initial discussion with a Chinese state-owned enterprise (the “Chinese SOE”) which is also a theme park builder and a reputable and sizable contractor involved in the Shanghai Disney Land. The Company believes that the Chinese SOE has shown considerable serious interest of acting as a semi-turnkey contractor of completing ALOW and also with prospects of competitive financing ALOW.
The initial indication is that since the Company has a strong balance sheet and has low debt to EBITDA ratio, the Chinese SOE has expressed sufficiently serious interest to finance, build and complete with such terms as may be mutually agreed by the Company and the Chinese SOE.
By Order of the BoardNagaCorp Ltd.Lam Yi LinCompany SecretaryHong Kong,
15 November 2020
As at the date of this announcement, the Directors are:Executive DirectorsTan Sri Dr Chen Lip Keong, Philip Lee Wai Tuck and Chen Yiy FonNon-executive DirectorTimothy Patrick McNallyIndependent Non-executive DirectorsLim Mun Kee, Michael Lai Kai Jin and Leong Choong Wah
This announcement is published on the Company’s website at www.nagacorp.com and the website of Hong Kong Exchanges and Clearing Limited at www.hkexnews.hk

Further details:
Full pdf doc (9 pages): https://doc.irasia.com/listco/hk/nagaco ... 201115.pdf

This proposal is like from the Bizarro World.

You can't put a shovel in the ground that close to Angkor without hitting an important archaeological find. This is a disaster waiting to happen.

Also, what ever happened to all the warnings about the water table there sinking, pulling the Angkor temple complex down with it? You start mucking around there with a project of that size that close to Angkor, you are going to cause irreparable harm to the site.

Yeah, it's a bit funny that peo can't build houses in the area, but Naga can build a resort?!

Disneyland
"The happiest place on earth"
V.
"Billy screamed like a goat being beaten to death when he saw Mickey Mouse at Disneyland, when in reality, it was just a man sweating to death so he could be paid a sub minimum wage"

Bitte_Kein_Lexus wrote: ↑Wed Nov 18, 2020 10:39 am Yeah, it's a bit funny that peo can't build houses in the area, but Naga can build a resort?!

Come on man......Bentley's and borey mansions don't pay for themselves.

Khmer socio-political elite have to keep up appearances. And that ain't cheap.

Pimping out their own country for money. Let's fill our rice bowl now, who cares what happens 5, 10 years down the line.

I hope I live long enough to see Cambodia deeply regret getting into bed with China.

Anybody who never realized this was inevitable needs to get non-rose tinted glasses.

Seriously, you're surprised?

As to irreparable damage; they don't care.

I'm just surprised they didn't do it within the temple boundaries.

Cambodia soon to be one tacky dirty Chinese theme park.

Maybe we need to learn to surf the Chinese tidal wave?
It can be done
https://www.youtube.com/watch?v=cAGABdvv5u8
Silver Dragon, the world's largest tidal bore, Qiantang City.

just an analogy, but maybe....
or get drowned in the dirty waters. ??