Virtue Resources Corp. is building a US$200m casino resort called Empire World City in Bavet City in Cambodia close to Vietnam’s Moc Bai border crossing.
Construction will begin by the end of 2017 with the first phase aiming to be completed by the end of 2019.
The venue will include a shopping mall and a Water Show Arena and will create 3,000 jobs. The resort will be designed by 3Ti Progetti Asia. A ground breaking ceremony for the project was held on April 14.
Mr. Eric, CEO of Empire World, said: “We are going to kick start this project by starting the leverage work and we estimate by end of this year we can start the construction.”
Mr. Chew, Group CEO at Virtue Resources Corporation, added: “The total time for the development and completion of Empire World City will be 10 years. We are building this mega project because we saw the potential of economic growth in Cambodia for the next 10 years. We believe that the Empire World city will boost the local economy by attract neighbouring Vietnamese into the city.”
Virtue Resources will work with Carton Hotel on the project.
Mr. Paul, CEO of Carton Hotel, said: “I am glad that Virtue Resources has given us an opportunity to come in Cambodia as the first container style hotel & resort. We are very confident that our presence in Empire World City will add more value to the project.”
The town Bavet, located in Cambodia’s Cambodia border, has become one of the liveliest cities in Cambodia. There are total of 11 large and small casino entertainment venues, and many more are in the midst of constructions. Cambodian Prime Minister Hun Sen has already expressed his intent to develop Bavet into Cambodia’s Las Vegas.