Naga3, the Phase III addition to NagaWorld in Phnom Penh, Cambodia, will put the resort on par with the best IRs in Macau, according to NagaCorp.
In a filing to the Hong Kong Stock Exchange, NagaCorp listed details of the project including five hotel towers with 4,720 hotel rooms along with gaming, retail, restaurants, a theme park, a spa and conference space.
“Upon completion, Naga 3 will be the largest integrated resort in the country,” said the NagaCorp filing. “Set within five modern purpose-built towers, it will complement the existing facilities at Naga 1 and Naga 2 with a quality standard set to rival that of the integrated resorts located in Macau.”
Half of the US$3.5 billion development cost will be funded by NagaCorp’s majority shareholder, Dr. Chen Lip Keong, reported Inside Asian Gaming.
U.S.-based Steelman Partners LLP, the designer of Naga3, also worked on both Naga 1 and Naga 2. The firm is known for its work on Sands Macao, a Las Vegas Sands resort, and Phase II of Galaxy Macau, a Galaxy Entertainment Group property. The firm has also worked on the Grand Ho Tram Strip in Vietnam; Solaire Resort and Casino in the Philippines; and the Imperial Pacific Resort and Hotel on Saipan.
