Peninsula Bay Investment Announces Ambitious USD 1 Billion Expansion in Sihanoukville

• 4 January 2025
• Local News
• 2237 Views

In a bold move to transform Sihanoukville’s landscape, Peninsula Bay Investment Co., Ltd has unveiled plans to invest an additional USD 1 billion to develop new hotels, shopping malls, and entertainment venues. This announcement was made during a recent project update, revealing the company’s commitment to enhancing the vibrant coastal province of Preah Sihanouk.

Project Manager Mr. Lai Xiao Bo shared insights into the scaled-up investment, which marks a significant increase from the initial budget allocated for this extensive development. The project is strategically divided into two areas: Area A, featuring a combination of hotels, shopping malls, and entertainment spaces, is set to be completed by 2028. Meanwhile, Area B, consisting of condominiums and commercial buildings, is on track for completion by the end of 2025.

Covering an impressive 15.8 hectares with a building area of up to 900,000 square meters, this ambitious project is expected to create approximately 5,000 job opportunities for local Cambodians. Mr. Mang Sineth, Governor of Sihanoukville, expressed his gratitude towards Peninsula Bay for their investment, highlighting the positive impact on job creation and the region’s overall economic growth.

Currently, construction progress boasts a 30% completion rate in Zone A and an impressive 80% in Zone B. Notably, retail spaces along the seafront are nearing completion at 90%. The landscaping in front of the building is already 95% finished. Anticipation builds as the company prepares to launch a resort in Zone A this coming February 2025, promising to enhance Sihanoukville’s appeal as a premier destination for locals and tourists alike.

The expansive development signifies a major investment influx and heralds a new chapter for Sihanoukville as it continues to evolve into a bustling hub for tourism and commerce in Cambodia.

• Projects Development