HLH Group Selling Hotel in D’seaview Project in Sihanuokville for Usd 15.7mn

• Proeksa Meas
• 28 March 2018
• Uncategorized
• 3073 Views

D’Seaview

HLH Group, a large Singaporean real estate developer, is selling the 98-room hotel in its D’Seaview project in Sihanoukville for USD 15.7 million, according to The Straits Times.

The hotel is part the project named D’Seaview, which is HLH Group’s first freehold mixed-use development in Cambodia and features 737 residential units and 67 commercial units. The group also holds the land rights to an adjacent freehold site of 22,064 square metres.

According to The Straits Times report, 80 per cent of the commercial units and 60 per cent of the residential units would have been presold after the hotel deal is completed.

“The development has attracted strong interest from local and overseas buyers from… Singapore, Malaysia, China, Taiwan, the United States, Russia and even Belgium,” HLH Group executive deputy chairman and chief executive Johnny Ong told The Straits Times.

The construction of D’Seaview’s commercial segment is expected to be completed this year, while the residential buildings are slated to be finished by next year.

In the past few years, Sihanoukville has experienced a real estate boom with many projects appearing such as condos, hotels, apartments, and especially casinos, which has attracted a lot Chinese investors and visitors.

D’Seaview