Construction of a new airport that will serve Phnom Penh is on track and could be completed as early as 2023, the developer said.
For in depth analysis of Cambodian Business, visit Capital Cambodia
Pung Kheav Se, chairman of the Overseas Cambodia Investment Corporation (OCIC), the company behind the project, said they are now building the foundations of the airport, conducting an environmental impact assessment, and negotiating with people affected by construction.
Mr Kheav Se was speaking to reporters yesterday at the Cambodia International Construction Industry Expo in Phnom Penh’s Diamond Island.
Mr Kheav Se, a renowned investor and chairman of the Board of Directors of Canadia Bank, said, “We are now laying the foundations and building the runway. If there are no issues with the land, I believe that the airport will be ready by 2023.”
OCIC has invested in numerous big projects in Cambodia, including Diamond Island Development City, Olympia City, and, most notably, Chroy Changvar Satellite City.
Sin Chansereyvutha, spokesman of the State Secretariat of Civil Aviation, said the airport is not likely to be finished so soon.
“We need time to clear the land and lay the foundations and solve any land dispute. As per our schedule, the new airport will be ready by 2024, but it may be delayed until 2025,” he said.
Chrek Soknim, president of the Cambodian Valuers and Estate Agents Association, said the project is a significant achievement for the nation that will boost the economy.
“Once the new airport is finished, the real estate and construction sectors in Cambodia will attract more investors. The land around the airport has attracted a lot of investment already after it was chosen as the site of the new airport,” Mr Soknim said.