More Chinese Takeover in Sihanoukville

SternAAlbifrons · Post by **SternAAlbifrons** » Sat Nov 30, 2019 8:52 am

Duncan wrote: ↑Sat Nov 30, 2019 8:43 am I can already see them walking the streets, shopping and eating in the roadside cafe's .

Yeah Dunc, i can see it too..

It's gonna be Fab

phuketrichard · Post by **phuketrichard** » Sat Nov 30, 2019 9:22 am

Unbelievable....

"In Cambodia, everything is possible"

shnoukieBRO · Post by **shnoukieBRO** » Sat Nov 30, 2019 11:10 am

Just passedthru yesterday. Place is like Hell.
It has nothing that would ever be of interest or use to any Khmer or tourist ...only for Richer Chinese looking to Gamble.
Mind u loads left 2 weeks ago so who knows if this will ever be finished. The basic amenities were ignored so it looks like it's even worse than it appears

adders28 · Post by **adders28** » Sun Dec 01, 2019 7:15 pm

shnoukieBRO wrote: ↑Sat Nov 30, 2019 11:10 am Just passedthru yesterday. Place is like Hell.
It has nothing that would ever be of interest or use to any Khmer or tourist ...only for Richer Chinese looking to Gamble.
Mind u loads left 2 weeks ago so who knows if this will ever be finished. The basic amenities were ignored so it looks like it's even worse than it appears

Nobody likes it, the chinese call is 'hell on earth'
They can not give rooms away at the moment, seeing the same ones daily with prices decreasing
Many back at 150 a month
RIP Sihanoukville

Duncan · Post by **Duncan** » Sun Dec 01, 2019 8:46 pm

If the Chinese economy sneezes the banks might panic and there could be some panic selling of those empty half finished buildings , and there are a hell of a lot of them. Even if they sold for a $1 , I still wouldn't buy one.

rogerrabbit · Post by **rogerrabbit** » Sun Dec 01, 2019 9:15 pm

Duncan wrote: ↑Sun Dec 01, 2019 8:46 pm If the Chinese economy sneezes the banks might panic and there could be some panic selling of those empty half finished buildings , and there are a hell of a lot of them. Even if they sold for a $1 , I still wouldn't buy one.

That would require that units are bought with loan money like in west. But as far as I know that is not the case. That is one of the reasons why property "bubble" is not really bubble in a sense we(steners) understand it.

frizzie77 · Post by **frizzie77** » Sun Dec 01, 2019 11:05 pm

rogerrabbit wrote: ↑Sun Dec 01, 2019 9:15 pm
Duncan wrote: ↑Sun Dec 01, 2019 8:46 pm If the Chinese economy sneezes the banks might panic and there could be some panic selling of those empty half finished buildings , and there are a hell of a lot of them. Even if they sold for a $1 , I still wouldn't buy one.
That would require that units are bought with loan money like in west. But as far as I know that is not the case. That is one of the reasons why property "bubble" is not really bubble in a sense we(steners) understand it.

Exactly ^^ The housing (or loan or mortgage) market here is quite different from what we(sterners) understand, just like the thinking here is quite different from what we(sterners) understand.
However, what about ROI (Return On Investment)? I cannot understand that seems not a concern. Is it really only 'whitewashing'? To me (a westerner) something still doesn't add up. Maybe I'm missing something.

adders28 · Post by **adders28** » Mon Dec 02, 2019 12:14 am

frizzie77 wrote: ↑Sun Dec 01, 2019 11:05 pm
rogerrabbit wrote: ↑Sun Dec 01, 2019 9:15 pm
Duncan wrote: ↑Sun Dec 01, 2019 8:46 pm If the Chinese economy sneezes the banks might panic and there could be some panic selling of those empty half finished buildings , and there are a hell of a lot of them. Even if they sold for a $1 , I still wouldn't buy one.
That would require that units are bought with loan money like in west. But as far as I know that is not the case. That is one of the reasons why property "bubble" is not really bubble in a sense we(steners) understand it.
Exactly ^^ The housing (or loan or mortgage) market here is quite different from what we(sterners) understand, just like the thinking here is quite different from what we(sterners) understand.
However, what about ROI (Return On Investment)? I cannot understand that seems not a concern. Is it really only 'whitewashing'? To me (a westerner) something still doesn't add up. Maybe I'm missing something.

Lots of khmers got loans to buy/rent buildings they could rent out, many are now struggling to pay back (some i guess dodgy loan sharks)
Doubt the chinese are building with loans , laundering money yes that is why they dont care about roi (i can not do a capital r either here)
Some have been killed for debts but probably gambling ones
Social credit might be bigger issues, the economy in china is slowing down rapidly , bubble bursting? who knows

Duncan · Post by **Duncan** » Mon Dec 02, 2019 7:37 am

Everyone is forgetting what banks do with all the money that is deposited into bank accounts, plus they also create money . We are not just talking about Cambodian banks ,, but the Chinese banks. The money they loan out may not be directly loaned to companies or people building in Cambodia but it does not sit in the bank doing nothing,,, It must earn income to pay for running cost , wages, advertising and every investor wants a return on their money. As I said '' when the Chinese economy sneezes the banks might panic ''

phuketrichard · Post by **phuketrichard** » Mon Dec 02, 2019 7:54 am

There must be lots of loans to justify the banks and loan companies paying out 5-8% interest.
what happens when the borrowers faults??
BUT
I still think its lots of black money funding many of these projects

as the Al Jazeera video i posted showed, the amount of money confiscated at airports, what amount comes in by sea or is just shipped in??

Could Sihanoukville become a ghost town of half finished high rises?

More Chinese Takeover in Sihanoukville

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Re: More Chinese Takeover in Sihanoukville

Re: More Chinese Takeover in Sihanoukville

Re: More Chinese Takeover in Sihanoukville

Re: More Chinese Takeover in Sihanoukville

Re: More Chinese Takeover in Sihanoukville

Re: More Chinese Takeover in Sihanoukville

Re: More Chinese Takeover in Sihanoukville

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