The government has approved the construction of a massive satellite city project in Kep, the coastal town of Kep Province. The investment project, developed by real estate tycoon Khun Sear's company, covers a total area of 1,467 hectares in Sangkat Kep, Kep City, and Pong Teuk Commune, as well as Ang Kol Commune in Damnak Chang Eur District.
The satellite city project is set to transform the coastal area of Kep with a wide range of amenities and facilities, including commercial centers, hotels, condominiums, residential areas, shopping malls, restaurants, and service areas. It will also feature sacred sites, resorts, golf courses, bungalows, accommodation areas, vacation homes, sports centers, parks, and healthcare providers, among other relevant tourism service centers.
The development of the satellite city has received a grant from the government, further fueling anticipation of a significant increase in land prices in Kep. The project is expected to attract local and international investors, as well as tourists, driving up demand for land in the area.
As a result, current landowners in Kep may experience a surge in property values, making it a potentially lucrative investment opportunity.
The satellite city project in Kep is also expected to have a positive impact on the local economy. It is projected to create job opportunities in the construction, hospitality, and tourism sectors, boosting employment prospects for local residents.
The increased economic activity from the development is also likely to spur further growth in the surrounding areas, benefiting local businesses and communities.
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