NagaCorp, the owner and operator of NagaWorld in Phnom Penh, has unveiled a $ 350 million non-gambling resort development plan in Siem Reap aimed at upgrading the Angkor Wat site as a World Heritage Site.
The Cambodian government has granted NagaGroup Global Limited, a subsidiary of Naga, a 50-year lease on a 75-hectare site just 500 meters south of the outer restricted area around Angkor Wat.
According to an announcement on the night of November 15, 2020, the new development of this project may be completed in 2025, before the NagaWorld 3 project worth $ 3.5 billion. Officially named the Angkor Lake of Wonder, the 75-hectare site is larger than the combined size of Disneyland and Disney California’s Los Angeles ventures, including high-end hotels, water parks, technology parks, water parks and more. Conference and exhibition space.
There is also an entertainment venue called Siem Reap China Town, which offers street food, street food, a wine bar, music and shopping that will be integrated with the garden and be protected by a weatherproof roof. Promote environmentally friendly.
NagaCorp said that this development will serve many purposes, such as increasing the number of tourists visiting Siem Reap, while NagaWorld implements a new travel strategy connecting Siem Reap and Phnom Penh. The company aims to implement a strategy of working with online travel agencies and travel agencies in China and elsewhere to offer tours based on a complete base in Siem Reap and Phnom Penh.
The Angkor Lake of Wonder project was designed by US-based Steelmen Partners, the US-based design company behind NagaWorld, with a master plan based on the concept of creating fun in the resort.
NagaCorp expects that the project to create a non-gambling resort and casino can be mutually beneficial.
As the Siem Reap, Angkor, Angkor Lake of Wonder and NagaWorld Complex projects show some positive results, the company will continue to look for viable and profitable development opportunities in Sihanoukville.