• Signing Agreement on the Lease of Beoung Kak Area
  WEBSITE TEAM-MPP
  February 06, 2007, 10:00am at City Hall

The Royal Government of Cambodia has agreed in principle to award a 99-year lease contract of part of Beoung Kak site with the total area of 133 hectares to SHUKAKU INC Company to be developed as a commercial, cultural, tourist, housing and recreation centre.

The agreement was reached between H.E KEP CHUK TEMA, Governor of Phnom Penh and Oukna LAO MENG KHIN, President of SHUKAKU INC Company on Feb 06, 2007 at the Municipality of Phnom Penh. In term of the contract, the lease lasts 99 years and the annual payment will be $USD 0.6 per a square meter of land,or 79 million dollars for 99 years.

Speaking at the ceremony, the Governor, on behalf of Phnom Penh residents and in his own name expressed his profound thanks to Prime Minister Samdech HUN SEN for providing favourable conditions for the City Hall to arrive at the investment agreement. After the signing of the agreement, the Municipality of Phnom Penh will work with the company to turn the Beoung Kak site into a beautiful center at the heart of Phnom Penh.