Phnom Penh's Famous Sokha Hotel For Sale - Only $1.5b
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Re: Phnom Penh's Famous Sokha Hotel For Sale - Only $1.5b
Hey guys maybe he meant 1.5B riel and got misquoted
- Jerry Atrick
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Re: Phnom Penh's Famous Sokha Hotel For Sale - Only $1.5b
Maybe he believes that $1.5B = $150M...
Re: Phnom Penh's Famous Sokha Hotel For Sale - Only $1.5b
Well that hotel is a eye sore on what should be natural parkland, they have stuffed Phnom Penh so let sell so we can stuff Bokor mountain as well.
I'm standing up, so I must be straight.
What's a poor man do when the blues keep following him around.(Smoking Dynamite)
What's a poor man do when the blues keep following him around.(Smoking Dynamite)
Re: Phnom Penh's Famous Sokha Hotel For Sale - Only $1.5b
It is worth whatever someone will pay. I can see Bokor development struggling sooner or later, maybe the dreamers pulled out of investing in his dream. Wondering if the government would ever bail anyone out here.
Always "hope" but never "expect".
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Re: Phnom Penh's Famous Sokha Hotel For Sale - Only $1.5b
One data point I found was that Sino Land spent over S$500M 25 years ago on acquiring and converting the Fullerton in Singapore to a 399-room hotel. This was when Singapore’s GDP was 1/5th of today’s.
Obviously I’m not saying the two are the same, but an optimistic investor with high hopes for the country’s long term prosperity might see a few parallels.
Obviously I’m not saying the two are the same, but an optimistic investor with high hopes for the country’s long term prosperity might see a few parallels.
Re: Phnom Penh's Famous Sokha Hotel For Sale - Only $1.5b
You mean they are not already?
Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
Re: Phnom Penh's Famous Sokha Hotel For Sale - Only $1.5b
I've heard some Khmer get really lost when trying to quote large numbers.
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Re: Phnom Penh's Famous Sokha Hotel For Sale - Only $1.5b
Seriously, I ended up quietly looking up my Khmer numbers from a textbook because my Khmer teacher got lost after 1,000, even with counting out the zeroes on her fingers. I guess this is why all transactions are done via the medium of calculator.Cooldude wrote: ↑Sat Jan 29, 2022 5:56 amI've heard some Khmer get really lost when trying to quote large numbers.
- Bitte_Kein_Lexus
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Re: Phnom Penh's Famous Sokha Hotel For Sale - Only $1.5b
The Burj Khalifa cost $1.5B. That building is worth about 1/10th that, and most of the value would be in the land, not that eyesore of a building.
Ex Bitteeinbit/LexusSchmexus
Re: Phnom Penh's Famous Sokha Hotel For Sale - Only $1.5b
Or it might spiral into turmoil when the Iron Man descends from his throne.nerdlinger wrote: ↑Fri Jan 28, 2022 9:53 pmI’m not basing it on the notion of steady year on year gain, but on the idea that Phnom Penh is likely to see seismic transformational growth over the next decades,Kammekor wrote: ↑Fri Jan 28, 2022 8:09 pmIf it's worth that in 20-30 years with an interest rate of 7% the nett present value is about 1/5th of what he is asking. With 5% interest it's still only 1/3 to 1/4 of the quoted price.nerdlinger wrote: ↑Fri Jan 28, 2022 5:51 pm
I guess he’s trying to strike while the iron’s hot, in terms of the hotel’s recent spell in the spotlight.
While the current market seems to be a bit wobbly, I’ve a feeling that in 20-30 years time that land may actually be worth what he’s asking.
In that calculation there's no factoring in of the civil unrest which might depreciate the value during that period of 25 years.
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