CFA Society Singapore
SINGAPORE (Mar 26): HLH Group has sold the 10-storey, 98-room hotel component of its D’Seaview mixed-used development project in Sihanoukville, Cambodia, for a total cash consideration $15.7 million.
D’Seaview comprises 737 residential and 67 commercial units with four blocks of commercial segment including a mix of commercial shop space, retail units and a boutique hotel.
It marks the developer’s first freehold mixed-used development project in Cambodia, and is located in close proximity to Sokha beach.
HLH says that following its sale of the hotel, 80% of the project’s commercial units and 60% of the residential units have now been presold, buoyed by strong demand from local Cambodians and overseas buyers from Singapore, Malaysia, China, Taiwan, the United States, Russia and Belgium.
Development of the commercial and residential segments are expected to be completed in 2Q18 and 1H19, respectively.
HLH also holds the land rights to a freehold land plot of approximately 22,064 sqm, located adjacent from D’Seaview.
Shares in HLH closed flat at 0.5 cent on Friday.