Cambodia Investment Review

SSRG’s Marum Estate Set to Make South Kandal a Gateway For Global Investments

SSRG’s Marum Estate Set to Make South Kandal a Gateway For Global Investments

Vijian Paramasivam
Singapore-based Sir Stamford Raffles Group Pte Ltd (SSRG) is poised to transform southern Kandal into a gateway for global investments with its luxury residential housing project, Marum Estate. The project, encompassing 22.6 hectares, is strategically located near pivotal infrastructures such as the upcoming Techo Takmao International Airport, National Roads 2 and 3, Ring Road 3, and the planned Ring Road 4. This prime positioning is set to elevate the region, previously farmland, into a highly coveted real estate hub in southern Phnom Penh.

SSRG founder and group co-chief executive officer Ng Aung San.

Marum Estate, a multiple award-winning township and mixed-use development, marked its inception with a groundbreaking ceremony in October of the previous year. Recently, the developer showcased its master plan to local and international media from Malaysia, Thailand, and Vietnam. SSRG founder and group co-chief executive officer Ng Aung San highlighted the estate’s strategy to attract investments by leveraging its unique offerings and promoting an eco-friendly and responsible investment environment. Ng emphasized that these initiatives, coupled with Marum Estate’s distinct characteristics, are poised to enhance its appeal to investors, thereby fostering economic growth and development in the region.

Strategic Choice Of Cambodia For The Flagship Project

Ng underscored the strategic choice of Cambodia for the flagship project, citing the country’s vibrant growth and strategic Southeast Asian location. Factors such as Cambodia’s dollarized economy, minimal capital controls, smooth profit repatriation, rule of law, contract respect, quality of life, political stability, and a business-friendly administration were pivotal in this decision.

Read more: 20 Years of FDI in Cambodia: Towards Upper Middle-income Status and Beyond

Marum Estate aims to redefine luxury by integrating upscale living with healthcare, education, commerce, and aging-in-place facilities, thereby attracting investors and businesses to the Kandal district. In a significant move, SSRG signed a memorandum of understanding to launch a collaborative pilot program between Khema Global and Parkway Cancer Centre (Singapore) to establish a state-of-the-art healthcare center in Phnom Penh. This partnership ensures access to top-notch healthcare services, positioning Marum Estate as a hub for medical excellence.

SSRG’s Marum Estate.

The estate, surrounded by the tranquil Tonle Bati Lake and the majestic Tamao Mountain, features 642 homes and 259 shophouses designed by esteemed architects and designers such as SCSY Studio, Burega Farnell, and Bloom Architecture. SSRG founder and Group CEO Phebe Len emphasized the estate’s community-centric design, fostering interaction and a strong community spirit among residents. The development goes beyond residential living by incorporating premier healthcare and educational facilities, like the Methodist School of Cambodia, ensuring a comprehensive living experience for residents.

Project’s First Phase Slated For Completion By 2026

Marum Estate is structured around five pivotal elements: park, healthcare, education, square, and residential living. The residences, categorized into four types ranging from three to eight bedrooms, are priced between US$190,000 to US$300,000. The healthcare component features a state-of-the-art hospital, while Marum Square serves as a sophisticated commercial hub. The estate also houses the Methodist School of Cambodia, offering complete primary education. The project’s second phase will introduce an innovative retirement living community, adhering to the “aging in place” concept.

With the project’s first phase slated for completion by 2026, SSRG targets local affluent Cambodians, comprising 80 to 90 percent of its client base. The project embodies the “Life. Elevated.” ethos and aligns with the anticipated economic upliftment in the Kandal area, driven by the Techo Takmao International Airport, which is expected to commence operations in 2025. The developer’s excellence was acknowledged with four accolades at the 8th Annual PropertyGuru Cambodia Property Awards last year, securing titles for Best Township Development, Best Mixed Use Development, Best Housing Architecture, and Best Housing Landscape Design.

SSRG’s Marum Estate Press Conference at Hyatt Hotel Phnom Penh on January 31, 2024.

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