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MARINA INVESTMENT CAMBODIA

The masterplan for a new $16bn coastal resort development near Sihanoukville, Cambodia’s leading port and third-largest city, has gained approval.

Called Ream City, the project will extend across 834ha and will include a marina and yacht club as part of extensive tourism and sports facilities.

This huge project is being overseen by Canopy Sands Development, a member of the Prince Holding Group, a leading Cambodian private sector business entity with considerable investments in real estate.

The Ream City masterplan has been produced by the Surbana Jurong Group, a global urban, infrastructure and managed services consultancy headquartered in Singapore and a division of Temasek, the state-owned Singaporean investment group.

Ream City is just one part of a major expansion proposed for Sihanoukville which will encompass over 3,000ha with a major emphasis on tourism facilities.

Ream City has been designed to introduce a sustainable ecosystem incorporating tourism, residential and commercial activities with the development being home to a possible 130,000 residents.

The marina and yacht club will be a core part of the tourism facilities which will cater for a number of different water sports as well as land sports. Residential accommodation will comprise apartment blocks, beachfront houses, affordable housing estates with tourism real estate including hotels, beach resorts and shopping malls plus commercial retail and business areas.

Surbana Jurong was commissioned to develop the master plan, urban area design and coastal engineering for the Ream City project. Work is anticipated to start this year and last for a number of years.

Yeo Choon Chong, Surbana Jurong’s CEO, ASEAN, commented on the Ream City project: “Cambodia continues to attract a steady flow of foreign direct investments. With our partners, we see immense potential to drive growth in this key market through our participation in iconic infrastructure projects.”

He explained: “A major part of the plan includes an extensive beachfront that stretches beyond 6km. This will support a wide range of waterfront activities and inject vibrancy to the community. The plan also includes infrastructure enhancements to the community to support civic and community facilities such as schools, parks and open spaces, sports complexes, polyclinics and neighbourhood-level amenities. Once fully developed, Ream City will be an exciting destination for dining, retail, work, recreation and living.”

Two other projects within the Prince group also have yachting involvements. The first is the Prince Yacht Club as a development of the Prince Real Estate Group. The Club is located on the coast and is seen as a venue not only for boat and yacht related activities but also social and entertainment events.

Prince Real Estate Group is also working on the Prince Cullinan Bay scheme which is a 2.6ha complex focused on leisure and recreational pursuits. A marina is set to feature among its mixed-use facilities along with a hotel, retail facilities and tourist accommodation.

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