Resources Global Services Group (RGSG) announces progress surrounding RGS GLOBAL land parcel (SIEM REAP)

Siem Reap, Cambodia and its surrounding are are all slated for development under a new Tourism Master Plan 2035

BRISBANE, Australia, Feb. 19, 2020 (GLOBE NEWSWIRE) -- Resources Global Services Group (OTC Pink: RGSG) (the "Company"), announced a colossal momentum of substantial infrastructure development and planning by international organisations around the parcel of land acquired in Siem Reap, Cambodia, via a joint partnership with RGS Global. The international organisations and Global Brand Leaders from Europe and United States are on an “unstoppable path” to establish Siem Reap as a prominent tourist attraction, in North Western Cambodia.

The land parcels that have been acquired, earmarked for the future development of hospitality and entertainment facilities targeted at the tourists and the local affluent society, is strategically located in the tourism corridor of the Master Plan. In September 2019, the Ministry of Tourism announced that Tonle Sap, Phnom Kulen and surrounding areas of Siem Reap city, are all slated for development under a new Tourism Master Plan. The plans also include the creation of a new tourism hub town in Siem Reap province, complete with an international airport.

Under the heading of “Turning Challenges into Opportunities”, the Master Plan contains four strategies for the diversification of new tourism products, extending the stay of tourists, boosting competitiveness and improving connectivity and crafting a new identity for the Siem Reap area, including Preah Vihear province.

France is providing input in the drafting of a tourism master plan for Siem Reap city, according to an official from the Ministry of Tourism.  

The master plan will include the creation of ‘supreme tourism areas’ in provinces with high tourism potential. They are described as zones that have entertainment complexes, tourist high quality accommodation facilities, hotels, food and beverage services, sports facilities, exotic gardens and parks, health care centres, trekking and hiking trails among other tourism-related facilities.

Other new attractions such as village tours, home stays and an eco-village are being mooted for the Tonle Sap, while Phnom Kulen may find itself endowed with adventure and spiritual tours. The plan also raises the possibility of a Kulen bio-centre with an education programme, and a tour garden for the cultivation, exhibition and sale of local plant life. All these are definite tourist attractions to the city of Siem Reap and its surrounding provinces. 

The number of tourists coming to Cambodia continues to rise at a rate exceeding 10% per year and is projected to keep growing in the same vein, increasing to 10 million by 2025 and 15 million by 2030.

The Siem Reap Cambodia land acquisition by Resources Global Services Group (RGSG), is definitely an important part of the overall company strategy of acquiring assets and adding value to these assets for the benefit of our shareholders.

Real estate asset acquisitions and real estate developments have always been great investments and this project offers both complementary investment avenues.

Consequently, the value of the parcel of land acquisition by RGSG has increased by 25% within a short timeframe. This increase in value will be reflected in our March 30, 2020 quarterly reporting.

Further acquisitions with such growth potential are now being considered by the Board of RSGS.


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