HLH Group Successfully Sells US$12-million Hotel in Sihanoukville

• 22 November 2021
• Local News
• 2255 Views

Hong Lai Huat (HLH) Group’s subsidiary PH One Development has successfully sold its US$12-million D’Seaview hotel project in Sihanoukville.

The sale was completed on 17 November with ownership titles already transferred, according to HLH Cambodia Public Relation Manager Kuoch Lengkheang.

HLH Group announced the sale of its 98-key hotel in its D’Seaview project in Sihanoukville for approximately US$12 million (SG$15.7 million) in March 2018.

However, in December of the same year, the firm called off the deal, by stating that the buyer failed to make the requisite payments for the purchase. Later, in May 2021, the firm re-entered into a settlement agreement with the buyer.

Besides this project, HLH Group’s subsidiary HLH Development (HLHD) and Smart Winner have also recently agreed to co-develop a mixed-use project on approximately 11.5 hectares of land in Sihanoukville.

Located close to Sihanoukville Autonomous Port, 3-5 hectares of the site will be developed into a wholesale and distribution centre that includes a seafood market. The rest will be subdivided into smaller plots for mixed-use development, which the firm will either lease or sell to a potential operator. (Read more)

• Business and Market
• Investment and Funding