Cambodia's thriving real estate market enriches the elite and
sidelines the poor
Source: International Herald Tribune
The Associated Press
Sunday, March 9, 2008
"Cambodia is experiencing a construction boom fueled by foreign
investment. The biggest projects are being funded by Korean investors
and companies, which have been the leading investors in Cambodia
following the resumption of diplomatic ties between the two countries
in 1997. The single biggest foreign direct investment is in a
'satellite' urban complex called Camko City on a 120-hectare area on
the northwest side of Phnom Penh.
But the soaring real estate market is also widening the gap between
the rich and the poor. Many slum dwellers that have moved outside the
capital are left to cope with a stark reality in their new village,
which has no running water or sewage system. Although each family has
been given a small piece of land, they complain of the lack of means
to sup****t their livelihoods. They have to travel daily to the capital
to do odd jobs as motorbike taxi drivers, construction workers or
scavenge for bottles and cans to buy food."
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Surya
