Brocon Group are to build a massive luxury resort on previously unheard of Cambodian islands. Will they be as successful as
Successful Australian property developer Brocon Group; the company behind the hugely popular French Colonial apartments in Phnom Penh, were recently given the green light for a massive $35million luxury resort development on two Cambodian islands just off the coast at Sihanoukville.
I recently predicted Sihanoukville as having the potential to become a massively popular and profitable destination for overseas property investors, but when I heard about this it blew me away.
I fell for Sihanoukville because it was a virgin coastal region of
The islands of Koh Oeun and Koh Bong, the sites of the new resort, have all the above and much more:
Brocon's possession of the islands, now fully granted by the government, will combine with the island's tropical beaches surrounded by lush rainforests, to make them an exclusive island hideaway for the region's growing middle classes, which are always on the lookout for virgin beaches to stake their claim to.
The massive power of Asian regional tourism and the massive effect it can have on an emerging property market have been seen time and time again. The most comparable are the Thai islands of Koh Samui and Phuket, which saw luxury property values grow by 50% per year in 2006 and 2007, and continue to grow strongly.
The new emergence of luxury resort property on a virgin Cambodian island, which shares many of Koh Samui and Phuket's sought after characteristics, and offers the chance to get in early at low prices, is sure to become a massively profitable endeavour.
'When we heard about a luxury resort development on previously unheard of Cambodian islands, when Cambodia's tourism was just starting to sprout hot-spots on Cambodia's coastline we were filled with excitement,' said Eleanor Flanders of Buy Sell Abroad. 'We will be marketing the Brocon resort development in the