BGI Investment (1961) Ltd. has signed a memorandum of understanding (MOU) on purchase of a 4.1 acre lot of land in the capital city of Phnom Penh at the price of over $22 million to build a multi-purpose building, Globes Online announced on Feb 25 (link last visited Feb 25).

If the company is satisfied, it will sign the contract within the next 60 days. The report did not give the details as to when construction will begin.

Other big Israeli companies doing business include Casino operator Queenco Leisure International Ltd. (QLI) and Alony Hetz Property and Investments Ltd. (ALHE).

QLI has bought land in the coastal resort of Sihanoukville for a tourist project.

The article did not give details of the what ALHE is doing exactly in it’s real estate business in Cambodia. However, the company “ and Singapore-based Pacific Star Holding pte Ltd. are setting up a $200 million real estate fund to invest in Southeast Asia, to be called Pacific Arrow Star, which will invest in Vietnam and other countries.”

“ Alony Hetz believes that Cambodia is a country with real estate potential,” finished the report.