Foreign money leaves trail of ghost towns

Brand new luxury condominiums are springing up across the capital Phnom Penh, but the average Cambodian cannot afford to live in them. This has increased dependency on foreign investors. Ate Hoekstra reports.

Ngeth Both guards one of the many newly built high-rise condominiums in Koh Pich, a luxury district in the Cambodian capital Phnom Penh. Both’s job is quiet most days. There is almost no traffic in the street, and there is hardly anyone living inside the condo.

“It’s always quiet. Each day only two or three people exit the building,” the security guard said.

Phnom Penh’s skyline has changed dramatically in the past decade. All over the city, old buildings are rapidly being replaced by new ones.

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