Cambodia: Foreign money leaves trail of ghost towns

[geovalin]

Brand new luxury condominiums are springing up across the capital Phnom Penh, but the average Cambodian cannot afford to live in them. This has increased dependency on foreign investors. Ate Hoekstra reports.

 

Ngeth Both guards one of the many newly built high-rise condominiums in Koh Pich, a luxury district in the Cambodian capital Phnom Penh. Both's job is quiet most days. There is almost no traffic in the street, and there is hardly anyone living inside the condo.  

 

"It's always quiet. Each day only two or three people exit the building," the security guard said. Phnom Penh's skyline has changed dramatically in the past decade. All over the city, old buildings are rapidly being replaced by new ones.

 

read more https://www.dw.com/en/cambodia-foreign-investment-phnom-penh/a-54255280

[ChakaKhan]

Guess the chinese will swoop in there to buy and then rent them to visiting chinese, just like CNX

[BritManToo]

8 minutes ago, geovalin said:

Brand new luxury condominiums are springing up across the capital Phnom Penh, but the average Cambodian cannot afford to live in them.

Could say the same about London and local Brits.

This is a worldwide problem, not just a Cambodian problem.

[phycokiller]

2 hours ago, BritManToo said:

Could say the same about London and local Brits.

This is a worldwide problem, not just a Cambodian problem.

wheres the problem? they look ugly and I wouldnt want to live in one but they provide a bit of employment for builders. doesnt affect me at all if people want to waste money building useless stuff 

[Sheryl]

2 hours ago, ChakaKhan said:

Guess the chinese will swoop in there to buy and then rent them to visiting chinese, just like CNX

 

they already own them

[ChrisY1]

Looking at these buildings....definitely Chinese design of the public housing style...and more than likely built as cheap as possible.

[Ireland32]

4 hours ago, phycokiller said:

wheres the problem? they look ugly and I wouldnt want to live in one but they provide a bit of employment for builders. doesnt affect me at all if people want to waste money building useless stuff 

Chinese builders only Construction workers are Chinese 

[phantomfiddler]

Could it be my imagination, but it seems the World,s 2 most populated countries appear to be equally guilty of destroying whatever they touch ? On top of this, they both share the same total disregard for the environment and are bent on ecological disaster ????

[mrfill]

30 minutes ago, phantomfiddler said:

Could it be my imagination, but it seems the World,s 2 most populated countries appear to be equally guilty of destroying whatever they touch ? On top of this, they both share the same total disregard for the environment and are bent on ecological disaster ????

And the next 8 most populated countries do exactly the same thing.

[DrTuner]

Ain't illegal hotels grand.

[phkauf]

Phnom Penh is a mess. Massive overdevelopment by the Chinese - their money, their workers, their buyers. So many of the beautiful old houses have been torn down in BKK1 and replaced by ugly new buildings with nobody inside. There is virtually no planning, so traffic is a nightmare and the roads are are in horrible condition.

Similar scenes are happening in Siem Reap and S'ville. It is going to be one big mess when the bubble bursts. 

[VBF]

7 minutes ago, phkauf said:

Phnom Penh is a mess. Massive overdevelopment by the Chinese - their money, their workers, their buyers. So many of the beautiful old houses have been torn down in BKK1 and replaced by ugly new buildings with nobody inside. There is virtually no planning, so traffic is a nightmare and the roads are are in horrible condition.

Similar scenes are happening in Siem Reap and S'ville. It is going to be one big mess when the bubble bursts. 

"It is going to be one big mess when the bubble bursts. "

Thanks to Covid...I think it just did!

[Redline]

11 hours ago, ChakaKhan said:

Guess the chinese will swoop in there to buy and then rent them to visiting chinese, just like CNX

They built them, and they were built for them 

[ChakaKhan]

12 hours ago, Redline said:

They built them, and they were built for them 

The takeover begins, I would like to offer a mama cup to our new overlords...Ni hao!