Cambodian conglomerate brings world-renowned expertise from Singapore to oversee 834-ha project, catalyzing growth in Cambodia’s 3rd largest city
HONG KONG SAR – 8 February 2021 – Canopy Sands Development, a member of Prince Holding Group, one of Cambodia’s largest and fastest growing conglomerates, approved a masterplan for Ream City developed by Surbana Jurong Group, a global urban, infrastructure and managed services consultancy headquartered in Singapore. The masterplan specifies a land use plan for the 834-hectare project requiring total investments estimated at US$16 billion, and will be developed on reclaimed land conveniently located within a 10 minutes’ drive from Sihanoukville International Airport. Ream City will act as a catalyst for the growth prospects of the entire Sihanoukville region, Cambodia’s third-largest city and home to the country’s deep-water port.
Ream City is set to transform Sihanoukville by introducing a sustainable ecosystem of tourism, commercial and residential activity that has the potential to house up to 130,000 residents. Upon completion, the masterplan envisions the construction of family attractions, condominiums, landed and beachfront homes and affordable housing estates, themed shopping malls, business hubs, beach resorts, hotels, condotels, yacht and marina club. Surbana Jurong was appointed to undertake the masterplanning, urban design and coastal engineering works for Ream City.
Cambodia is located between Thailand and Vietnam and has positioned itself to be an attractive investment destination for businesses looking to expand in the ASEAN region.
Mr Yeo Choon Chong, CEO, ASEAN, Surbana Jurong said, “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.”
“The proposal prioritises the integration of nature to enhance the built environment. 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.”, Mr Yeo added.
“We have liaised with Surbana Jurong for more than a year and are very happy with the masterplan they have proposed for Ream City,” said Mr Khong Weng Fook, Managing Director of Canopy Sands Development. “Surbana Jurong has consistently impressed clients around the world and are well-known for their extensive experience in urban development, deep and global talent pool, and comprehensive global coverage as they have developed masterplans for a wide variety of projects in more than 30 countries.”
“We are looking forward to working together to convert their proposed land use plan into reality and create a sustainable solution for living for the betterment of Sihanoukville and Cambodians.”
Beyond tourism, Sihanoukville Province is also diversifying economically with a growing base of entertainment, manufacturing, logistics, electricity production and agriculture businesses. It is situated at the cross-roads of major infrastructure initiatives like the Belt and Road Initiative and the Greater Mekong Subregion Economic Corridors southern route. The airport is also undergoing expansion and will initially see its capacity increase to accommodate 3.6 million passengers annually with further plans expected to deal with a potential passenger load of 10 million by 2030.
Together, Prince Group and Surbana Jurong aim to bring a holistic and meticulously planned approach to the coastal development that leverages the strengths of both parties — Prince Group, which also counts Prince Real Estate Group, Prince Bank, Cambodia Airways and Prince Huan Yu Real Estate among its group of companies, has completed numerous projects in Phnom Penh and Sihanoukville and has invested more than US$2 billion in local projects with a view to “Build a Better Life” for Cambodians.
About Prince Holding Group
Prince Holding Group, better known as Prince Group, is one of the largest corporate conglomerates in Cambodia, with businesses spanning across multiple industries, including real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverages, and lifestyle sectors. Prince Group adheres to its mission of “Building a Better Life” and the Group’s philosophy espouses the values of “Commitment, Responsibility, Respect, Generosity and Innovation”.
About Canopy Sands Development
Canopy Sands Development’s vision is to build thriving living and working environments that elevate people’s livelihoods and wellbeing and deliver lasting prosperity to local communities. Led by a local and international team of highly experienced, reputable and respected professionals, each of whom has a unique and strategically critical global perspective, Canopy Sands Development is laying the foundations that will catalyze greater economic opportunities, generate major socio-economic benefits, and ensure long-term prosperity.
A leader in real estate development, Canopy Sands Development is working to build vibrant new communities across Cambodia, each of which will be built according to the highest international standards. In doing so, the company will create significant economic, social, and educational opportunities and deliver sustainable and lasting benefits to Cambodian communities.
About Surbana Jurong
Surbana Jurong Group is one of the largest Asia-based urban, infrastructure and management services consulting firms, with 70 years of track record in successful project delivery. Headquartered in Singapore, the Surbana Jurong Group comprises SMEC and Robert Bird Group in Australia, Sino-Sun in China, AETOS, KTP, Prostruct and SAA in Singapore, and B+H in Canada.
Our global talent pool of over 16,000 employees from more than 120 offices in over 40 countries worldwide includes architects, designers, planners, engineers and other specialists, who are driven by progressive thinking and creative ideas to help shape a better future.
Our technical experts deliver best-in-class solutions that cover the entire project life cycle from planning and design, through to delivery and management, and even decommissioning and closure. We provide a full suite of consultancy services across a diverse range of sectors such as aviation, healthcare, hospitality, transport, water and environment, energy and resources.
With a wealth of experience, we have built more than a million homes in Singapore, crafted master plans for more than 30 countries and developed over 100 industrial parks globally, building homes and designing cities that are socially, economically and environmentally sustainable, empowering communities to thrive.
