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Korean State Firm MOU for “Smart City” in Sihanoukville, with plans for Affordable Housing Development in Phnom Penh

MOU sihanoukville-smart-city

According to a recent Korea Herald report, South Korea’s Ministry of Land, Infrastructure and Transportation will sign a memorandum of understanding (MOU) with Cambodia’s Ministry of Land Management, Urban Planning and Construction to fully-develop the first ever “Smart City” in Sihanoukville.

The proposed development in Sihanoukville is said to integrate full development of road, power and water networks, along with environmental and security systems also included in the designs from the outset.

The “Smart city” in Sihanoukville, once completed, will harness information and communication technology to create efficiencies of automation throughout the project.

A minister at South Korea’s Ministry of Land, Infrastructure and Transportation stated that, “South Korea’s experience in using ICT to resolve urban area problems will help Cambodia’s efforts to deal with reckless development near Sihanoukville.”

It has been claimed that the MOU will also allow the Korea Land and Housing Corp., a state run enterprise, to provide strategic support for the Cambodian government to create affordable housing options for low-income earners in Sihanoukville and Phnom Penh. This follows previous requests to Seoul for assistance from the Cambodian government in recent times.

According to the Korean ministry, guidelines on land acquisition, project development and supply plans are now in formation with the intention of launching a pilot program for the affordable housing project in the capital city of Phnom Penh as soon as August 2017.

Soure By Realestate.com.kh

 

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