Cambodia Investment Review
Overseas Cambodian Investment Corporation (OCIC), Cambodia’s leading property and infrastructure conglomerate has been awarded Best Waterfront Condo for its latest mixed-used residential property, Diamond Bay Garden at the Asia Property Awards, during the Property Guru Asia Real Estate Summit 2023.
This year, together with OCIC, Guoco Land Singapore, Keppel Land, Shang Properties, Fraser Land, Robinson Land, Aboitiz Infra, Sinar Mas Land, Sime Darbi, Lan Kwai Fong Group, Shun Tak Holdings, Sino Land or UOL were among the other recognized developers in the Asia region.
Cambodian Developers Presented With A Regional Award
This marks the second year only, that Cambodian developers have been presented with a regional award. This year, 3 properties development projects from Cambodia have been awarded, Diamond Bay Garden, Mean Chey Avenue and Marum Estate from Sir Stamford Raffles a Singapore based developer, have received recognitions at the Real Estate Summit. And this underlines the immense growth potential of the emerging country.
However, OCIC is one the first homegrown Cambodian founded and Cambodian owned real estate developer, to be recognized at the international stage. This is a tremendous milestone for the Founder and Chairman, Neak Okhna Dr. Pung Kheav Se, who established OCIC 23 years ago. OCIC has also been finalist and runner-up in 2 other categories, including Best High-Rise Condo Development and Best Developer Asia.
Diamond Bay Garden in Koh Pich district is a soon-to-be launched Condominium complex, comprising three towers nestled at the junction of Phnom Penh city’s 3 major rivers, with breathtaking views.
OCIC Vice President, Thierry Tea, who received the award on behalf of the Group commented: “The team at OCIC is extremely heartened to have received such an award and be recognized regionally. Our investments in shaping Diamond Bay Garden property is indicative of the ongoing development of Cambodia’s Koh Pich district, a 100 Hectare CBD, with over 15,000 residents, which is now thriving as a hub for innovation, commerce, and residential living. This reaffirms our dedication into developing Cambodia as a whole, and our care to make people happy when possible. ”
OCIC Group’s 30th Residential Property Development
This award, for OCIC Group’s 30th residential property development, and the 5th high rise condominium, is a testament to its 15,000 employees’ dedication to expansion, innovation, and sustainable development that contribute to Cambodia’s future growth. As the Group continues to expand its portfolio and strengthen its presence, the regional recognition provides wider platform for the Group to grow in the Asia Pacific.
Diamond Bay Garden is OCIC’s newest property development overlooking the Mekong River, Tonle Sap River and Bassac river, and will officially launch in Q1 2024. Diamond Bay Garden is a mixed-use residential complex of three uniquely designed 40-floor towers comprising 590 residential units, with modern amenities such as a swimming pool, playgrounds, coffee shops, business center, and laundry services. Price ranges from under US$100,000 for entry level studio units to over US$400,000 for larger and higher floor units.
Since its soft private sales launch, Diamond Bay Garden has garnered interest from investors from across Asia, such as South Korea and Japan but especially from Singapore and Malaysia. The group aims to launch several real estate projects in Cambodia that will be available for sale to investors from the Asia-Pacific region.
