Gareth Johnson
Canopy Sands Development led a groundbreaking ceremony at the site of its $16 billion, 934-ha Bay of Lights New Township project in Ream City, Sihanoukville.
The groundbreaking ceremony marks a new renaissance for Sihanoukville, as the developer is building Cambodia’s first-ever coastal entertainment hub featuring a beach club, 60 keys cabin lodging along the coastline, a go-kart track, reverse bungee jump, and paintball.
The event which was hosted by developers Canopy Sands was attended by Provincial Governor, H.E. Kuoch Chamroeun, members of Prince Group as well as representatives from other key stakeholders, as well as the media.
Bay of Lights New Township
The long-term plan is to turn the area into a 934-hectare green coastal city with capacity for up to 160,000 residents, and a total investment of $16 billion. From start to finish the whole project is expected to be completed in full by 2028.
Managing Director of Canopy Sands Development Mr. Ian Tan commented that they expect construction for Startup Phase of 50-ha, a key catalyst for the 934-ha BAY OF LIGHTS township to complete in 2030, starting with the commencement of this entertainment hub featuring a beach club, 60 keys cabin lodging along the coastline, a go-kart track, reverse bungee jump, and paintball, to complete by the first half of 2023.
“Sihanoukville being Cambodia’s only coastal region, will play a key role in continuing Cambodia’s fast growth over the next decade. Being a relatively untapped market across the ASEAN region, one of the biggest markets in the world, we are confident that BAY OF LIGHTS will accelerate this trajectory further,” he said.
The project, which aside from Canopy Sands has Prince Real Estate Group as the company’s secondary development partner would also provide a huge economic boost to the region, as well as job opportunities.
Mr. Edward Lee, Chief Executive Officer of Prince Real Estate Group added: “With this 934-ha project taking off so rapidly, we envisage providing job opportunities, training young Cambodian professionals, and in turn injecting enormous momentum, to the urban development and the national economy of Cambodia, specifically the province of Sihanoukville.”
Bay of Lights’ strategic location
Key to the success of the city though according to the organizers was its strategic location, which aside from the beauty of the coastline and the surrounding mountains is only 5 minute drive from Sihanoukville International Airport and just 20 minutes from downtown Sihanoukville.
In addition, the flagship $2 billion Phnom Penh to Sihanoukville expressway has enhanced the reliability, safety, and mobility of the Cambodian road network and has allowed the movement of a large number of vehicles.
Read more: What are the market trends for Cambodian real estate in 2022?
The expressway has linked the two economic poles of the country and is improving the logistical efficiency of Cambodia and reducing the time and costs involved in the transportation of goods.
It has also significantly reduced the travel time between Phnom Penh and Sihanoukville from the previous five-plus hours on the existing National Road 4 by 50% to approximately 2 and half hours.
Bay of Lights Coastal Entertainment Hub
Slated as “Cambodia’s first-ever coastal entertainment hub” and due to open in the “early part” of 2023, the hub will include a Beach Club, 60 coastline cabin lodges, go-karting, paintball, and even a reverse bungee jump – the first of its kind in coastal Cambodia.
International standard beach club that comes with a pool bar, DJ booth, cabanas, al-fresco dining, and lawn that will be operated by one of Indochina’s renowned entertainment operator, Sailing Club, featuring exclusive beach parties and regional DJs all year long.
At a 32 meters thrilling height, the reverse bungee jump facility will be the first coastal bungee in Cambodia, targeted to be operational in the second quarter of 2023. International racing track standards that will host go-karting championship, the karting track of 1.3 km with 21 laps is expected to be operational third quarter of 2023.
Nestled along the coastline of Ream, the 60 keys lavish yet affordable cabins lodging will bring the beach communities alive, with an unmissable nightlife scene, targeted to be operational in the second quarter of 2023.
The paintball park will feature modern warfare games, suitable for team building and friendly matches. There was also good news for sports fans with the announcement that the Cambodian Sailing Club would also be moving to the Bay of Lights.
Answering a question directly from Cambodia Investment Review Managing Director Ian Tan stated: “The sailing club will be moving here permanently, which will make it much more accessible to the general public. We are also hopeful that it will be ready for and be part of the South East Asian Games.”
A member of Prince Holding Group
Canopy Sands Development is also elated about its strategic collaboration with Prince Real Estate Group as the company’s secondary development partner, leveraging the seasoned developer’s experience in delivering commercial developments.
Canopy Sands Development aims to accelerate the economic development in Cambodia by initiating and driving forward economically sustainable projects that aim to fulfill important public needs and make meaningful contributions to local communities in Sihanoukville.
According to the developers, it works closely with local businesses and core sector supply chains, we adopt a unique, holistic approach to real estate in Cambodia that delivers sustainable economic returns.
The developer is a member of Prince Holding Group which includes Prince Real Estate Group which has already run several successful projects in the downtown area, including the Prince Times Hotel, as well as the Prince Mall, which opened its doors earlier this year.
Prince Real Estate Group (Prince Real Estate) emerged as the Best Developer and Best Mixed-Use Developer at the 7th PropertyGuru Cambodia Property Awards 2022, as the prestigious developer clinched two top awards of the year at the gala event held on August 26 in Sofitel Hotel, Phnom Penh, Cambodia.
