Singapore-listed HLH Group has launched phase two of its maiden mixed-use development in Cambodia, after the first phase was sold out.
A total of 437 units were released in the latest phase of the D’Seaview project in Sihanoukville, with one- to three-bedroom units on offer.
The waterfront development was first launched in September 2015. All 300 apartments released under phase one were snapped up by local and international buyers, with prices ranging from US$675 psm (S$922 psm) to US$1,943 psm (S$2,653 psm).
“The strong response to our project reflects the pent-up demand for good quality affordable housing in Cambodia. Given the country’s positive GDP growth of about six percent to seven percent annually, the Cambodian economy remains vibrant and attractive to both local and foreign investors,” said HLH Group CEO Dato Dr Johnny Ong.
“In view of this and the rising tourist numbers in Sihanoukville as well as the increasing disposable incomes of consumers in Cambodia, our plans for more developments will add greater vibrancy and activities to the area,” he added.
D’Seaview is a mixed-use development located near the popular Sokha Beach in Sihanoukville, which is expected to become Cambodia’s next hotspot, not only for property investments, but also for tourism. Aside from its potential as a major cruise ship destination, there are also more flights landing at the city’s international airport.
Piling work is currently underway and is expected to be completed by June this year. The apartments are being marketed under the CAMHOMES brand of HLH, which is targeting the mass market.
Looking ahead, the group plans to build more residential projects in other locations, including the capital Phnom Penh.