Wednesday, March 27, 2024
Ascott, the wholly-owned lodging arm of CapitaLand Investment (CLI), has announced a significant collaboration with Overseas Cambodian Investment Corporation Ltd (OCIC) to manage Somerset Diamond Bay Garden Phnom Penh. This partnership with OCIC, a reputable owner-developer in Cambodia, marks a strategic alliance and a noteworthy milestone in the upscale international hospitality sector of the region.
Over the past few years, Cambodia’s hospitality industry has experienced notable growth, attracting travelers from various parts of the world. The increasing demand for authentic experiences has led to a surge in eco-friendly accommodations, reflecting a broader shift towards sustainability. Moreover, visitors now prioritize convenience and personalized services, prompting accommodation providers to enhance their offerings to meet these evolving expectations. Additionally, Cambodia’s dedication to sustainable tourism has driven the development of eco-conscious lodging choices, emphasizing environmental preservation and community engagement.
In line with these developments, Ascott is unveiling Somerset Diamond Bay Garden Phnom Penh, the second Somerset property in Cambodia and the inaugural one resulting from the collaboration with OCIC as per this agreement. Somerset is highly regarded for its ability to meet a wide range of travel requirements, making it particularly popular among families looking for extended or short-term accommodations. As Cambodia’s tourism sector rebounds, Somerset Diamond Bay Garden Phnom Penh is poised to become a popular destination for families and eco-conscious travelers in the region of Angkor Wat. Somerset fosters a sense of togetherness in a welcoming, inclusive, and homely atmosphere. As the second-largest global brand within Ascott’s portfolio, Somerset aims to provide an experience where families of all ages can share joyful moments, create lasting memories, and contribute positively to their journey.
Strategically positioned southeast of Phnom Penh, Somerset Diamond Bay Garden Phnom Penh is situated within the Diamond Island project, Koh Pich. This area is renowned for its family-friendly urban setting, featuring well-maintained parks and green spaces ideal for relaxation and outdoor activities. The property provides an all-encompassing serviced residence experience, enhanced by a variety of nearby amenities including international schools, hospitals, shopping malls, and a convention center. This prime location ensures convenience and accessibility for residents and visitors alike, making Somerset Diamond Bay Garden Phnom Penh an excellent choice for both short-term visits and extended stays.
Mr. Thierry Tea, Vice President of OCIC, expressed his enthusiasm about the collaboration, stating: “We are excited to collaborate with a world class hospitality management partner like Ascott to optimise the value of Diamond Bay Garden for our existing and future guests. Cambodia has shown its viability as a real estate investment market and as a dynamic economy with a sustained average GDP growth of 6% over the last decade. As a legacy developer, OCIC Group is incorporating some touch of innovation through key partnerships such as Ascott with the Somerset brand to get closer to global standards.”
The signing ceremony marks a significant milestone for Ascott’s dedication to providing exceptional hospitality experiences in Cambodia, highlighting OCIC’s commitment to enhancing the nation’s tourism sector.
Mr. David Cumming, Regional General Manager of Vietnam, Cambodia & Myanmar, Ascott, emphasised: “We are thrilled to collaborate with OCIC and anticipate Somerset Diamond Bay Garden Phnom Penh to become a premier destination for both business and leisure travellers. This new agreement expands Ascott’s presence in Cambodia to six properties spanning more than 1,200 units. Somerset Diamond Bay Garden Phnom Penh offers a diverse range of accommodations, from studios to 3-bedroom units, catering to short-stay and long-stay demands in the fast-growing Southeast part of Phnom Penh. We hope that this groundbreaking collaboration will set a positive precedent for future endeavours between Ascott and OCIC.”
Saturday, April 27, 2024
