Hong Kong-based Sunwah Group has launched a $1.5 billion real estate project in Phnom Penh, saying it will represent a new symbol of Cambodia's high-quality life.
Sunwah Group was founded by Choi Kai Yau in Hong Kong as a seafood processor in 1957. In 1976, his son, Jonathan K S Choi, expanded operations into other sectors, including real estate in mainland China, Japan, Macau, Vietnam, Myanmar, Cambodia, Singapore, Canada, Europe, the US and Australia, according to its website.
In Phnom Penh, the $1.5 billion Sunwah Pearl covers a total gross floor area of 460,000sqm, which comprises a hotel, residential and office space, and shopping center.
It will be located in the capital’s prime business district area by the river and adjacent to Samdech Hun Sen Park and Nagaworld Casino, Sunwah Group said in a July 21 press release. “We connect nature to living, working and entertainment, and strive to set a new standard of luxury living to our tenants and residents,” it added.
Cambodia will have its first ever Mass Rapid Transit (MRT) system that connects the Sunwah Pearl directly to the airport, administrative centers and other neighboring districts and become a focal point that converges all advantages for luxurious lifestyle and business convenience, the release said.
“Sunwah Group has been doing business in Cambodia for nearly 30 years. Akin to the country itself, we have gone from strength to strength, starting with seafood exports to real estate development. I am delighted to enunciate that three generations of our family have made footprints in Cambodia,” said Jesse Choi, Regional Director of Southeast Asia, Sunwah Group, said.
Sunwah Group’s Chairman Jonathan K S Choi has close links with the government of the People’s Republic of China (PRC). Its website shows Choi sitting next to Chinese President Xi Jinping and Choi is also chairman of Mainland-Hong Kong Belt and Road Business and Professional Services Council.