Song Saa Island Resort: aerial
view
and two-bedroom over-water villa perspective.
The launch earlier last month of the Song Saa Island Resort
in Cambodia has received an unprecedented response from buyers, with over 60% of
the units at this exclusive private island development booked during the launch
event held in Phuket.
Song Saa Island Resort is located on Koh Ouen and Koh Bong in the Koh Rong
archipelago, a 30 minute boat ride from the Cambodian resort town of
Sihanoukville. The resort comprises a total of 14 one and two-bedroom
residential villas, in a private island setting with a starting price of USD
200,000 and a 10% guaranteed yield for three years. Resort facilities include a
five-star over-water restaurant and bar, swimming pool, spa & wellness centre,
yoga & meditation centre and a beachside water sports centre. Construction of
the resort will begin next month with expected completion in Q2 2011.
Song Saa’s success marks the beginning of the international development of the
Cambodian coastline and is the first project to target foreign buyers. The
project offers a 99-year leasehold tenure, the best available ownership
structure for foreigners compared to other resort markets in the region. The
success also proves that there is a market of international investors who are
attracted by quality design and operators in an emerging location. Pioneering
investors who have invested in this new frontier expect to be rewarded by the
significant upside in capital appreciation.
The opening of Sihanoukville Airport will further push the development along the
Cambodian coastline and surrounding islands. The airport construction is now
complete and includes a runway expansion and terminal renovation. The airport is
currently open for chartered flights and private jets. Flights from Phnom Penh
and Siem Reap are expected to begin in the near future, with rumours of regional
airlines also planning scheduled flights in 2010.
The airport, once fully operational, will be the principal gateway to Cambodia’s
southern coast and a critical catalyst for the area’s development.. Transfer
from the airport to Song Saa Island is approximately 30 minutes by boat.
There are currently a limited number of resort developments in Sihanoukville
such as the Sokha Hotel and Koh Puos (Snake Island), off the southern coast. A
number of international investors have purchased beachfront land in the area and
it is expected that the official opening of the Sihanoukville Airport will
increase development activity, particularly for four and five star hotels. Song
Saa Island Resort is the first project to reach the market.
Song Saa Islands are nestled in the lee of Koh Rong, Cambodia’s most important
resort island, pitched to be a future Phuket. The entire island is owned by one
of Cambodia’s largest corporations, The Royal Group. Pre-development plans are
now underway for the island and the aim is to position the island as Asia’s
first environmentally planned island development. With an unparalleled quality
of water, beach and the environment, the Koh Rong archipelago and the Cambodian
coastline has the potential to become the next Asian Riviera, comparable to
established markets such as Phuket, Samui and Bali.
“The launch of Song Saa Island Resort has certainly put Cambodia on the global
map and has paved the way for future developments in the area. I believe the
uniqueness of the product, the charm of the island and pricing have been the key
factors for Song Saa’s success” said Rory Hunter, Chairman, Brocon Investment
Co., Ltd., the project developers. - Source CBRE (Thailand).
