Singapore developer Hong Lai Huat has completed the sale of a hotel in its mixed-use freehold project in the resort of Sihanoukville. Its local subsidiary PH One Development (Cambodia) Limited received the balance of funds from Cambodia-based Sihahotel Group Co Ltd yesterday and completed the transfer of the strata title for the hotel in D’Seaview.
Hong Lai Huat launched D’Seaview in 2015. It consists of 737 residential units, 67 commercial units and a boutique hotel. Sihahotel is owned by three Malaysians Ong Hock Keat, Ng Hong Ming and Ang Kian Chun.
Hong Lai Huat is listed on the main board of the Singapore Stock Exchange.
Earlier this month Hong Lai Huat signed an agreement to develop its fourth mixed-use project in Cambodia in a joint venture between wholly-owned subsidiary HLH Development Pte Ltd and local landowner, Smart Winner Co Ltd.
They will develop a 11.5 hectare site in Preah Sihanouk province into a wholesale and distribution centre with a seafood market and divide the rest into smaller plots for a mixed-use development.
Hong Lai Huat has completed numerous projects in Singapore from public and private residential developments to commercial and industrial buildings.
It diversified into the Cambodian agriculture sector in 2008, developing 10,000 hectares of land into a cassava farm. It also build a starch production factory on the site.
In 2019 it launched the Royal Platinum mixed use project in Phnom Penh. The group acquired a plot of land last year for a third mixed-use project.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.
