• My Saves
  • My Feed
  • My Interests
  • Advertise
  • Governing Body
  • From The Founder's Desk
  • Contact Us
The Better Cambodia
  • News
    NewsShow More
    Cambodia-Thailand JBC Meeting Concludes with Emphasis on Peaceful Border Resolution and Legal Clarity
    Cambodia-Thailand JBC Meeting Concludes with Emphasis on Peaceful Border Resolution and Legal Clarity

    Phnom Penh, June 16 — The 6th Meeting of the Cambodia-Thailand Joint…

    By
    TBC
    ABC and CMA Offer Loan Restructuring to Ease Burden on Returning Migrant Workers
    ABC and CMA Offer Loan Restructuring to Ease Burden on Returning Migrant Workers

    Phnom Penh, June 16 – The Association of Banks in Cambodia (ABC)…

    By
    TBC
    Cambodia and Thailand Resume Border Demarcation Talks After 12-Year Hiatus, Excluding Disputed Temple Areas
    Cambodia and Thailand Resume Border Demarcation Talks After 12-Year Hiatus, Excluding Disputed Temple Areas

    Phnom Penh — In a significant step toward regional stability and diplomatic…

    By
    TBC
    PM Hun Manet Receives High-Level Invitations from EU, Tajikistan
    PM Hun Manet Receives High-Level Invitations from EU, Tajikistan

    Phnom Penh, Cambodia – June 13, 2025 — Cambodia’s international reputation continues…

    By
    TBC
    Phnom Penh Autonomous Port Sees Nearly 30% Surge in Container Traffic in Early 2025
    Phnom Penh Autonomous Port Sees Nearly 30% Surge in Container Traffic in Early 2025

    Phnom Penh Autonomous Port (PPAP), one of Cambodia’s key inland logistics hubs,…

    By
    TBC
  • Editors Pick
    Editors PickShow More
    Cambodia’s Steady Commitment to Peace and Law in the Face of Border Challenges

    In recent days, changes along the Cambodia–Thailand border have drawn regional attention.…

    By
    Surya Narayan
    Cambodia’s Fiscal Discipline Builds Confidence for Growth and Investment

    Cambodia is steadily earning a reputation for sound financial management and disciplined…

    By
    Surya Narayan
    Cambodia’s Trade Resilience: Turning U.S. Tariff Hikes into Regional Growth Opportunities
    Cambodia’s Trade Resilience: Turning U.S. Tariff Hikes into Regional Growth Opportunities

    On April 2, 2025, U.S. President Donald Trump announced sweeping tariff increases…

    By
    Surya Narayan
    Cambodia’s Rise as a Manufacturing and Investment Hub: A Global Perspective

    In recent years, Cambodia has emerged as a preferred destination for manufacturing…

    By
    Surya Narayan
    Cambodia’s Commitment to Environmental Sustainability

    Cambodia is taking remarkable strides towards environmental conservation, as demonstrated by the…

    By
    Surya Narayan
  • Stories
    StoriesShow More
    The Timeless Tale of Vorvong and Sorvong: A Glimpse into Khmer Folklore

    The epic Khmer folklore of Vorvong and Sorvong stands out, weaving a…

    By
    Surya Narayan
    Empowering Cambodian Youth: Anjali House’s Mission to Shape Futures

    In the heart of Siem Reap, Anjali House, a community learning center…

    By
    Nadalena DeJulio
    Life’s Journey: A Bike Ride Around Tonle Sap Lake

    In a remarkable display of strength and determination, Pheak Keo embarked on…

    By
    Surya Narayan
    Phare Creative Studio: 15 Years of Cambodian Creations for Social Good

    Phare Creative Studio (PCS) is a social business that has been operating…

    By
    Surya Narayan
    Dieng Dorm: The Muffin Man of Siem Reap

    Have you ever heard of the Muffin Man, SiemReap? He lives in…

    By
    Pisey Roeurm
  • Business
    BusinessShow More
    Starbucks Isn’t Just Brewing Coffee It’s Running a Bank in Disguise

    When you think of Starbucks, you probably imagine friendly baristas, cozy interiors,…

    By
    Surya Narayan
    PM Hun Manet Reinforces Pro-Business, Pro-Environment Agenda at Ford Plant Opening

    PURSAT, April 22 – Cambodian Prime Minister Samdech Thipadei Hun Manet reiterated…

    By
    TBC
    Cambodia’s Economy to Grow by 6.1% in 2025 and 6.2% in 2026, Says ADB Report
    Cambodia’s Economy to Grow by 6.1% in 2025 and 6.2% in 2026, Says ADB Report

    Phnom Penh, Apr. 9 – Cambodia’s economy is set to maintain a…

    By
    TBC
    EU and IFAD Announce €80 Million Investment to Modernise Cambodia’s Agricultural Sector
    EU and IFAD Announce €80 Million Investment to Modernise Cambodia’s Agricultural Sector

    The European Union (EU), in collaboration with the European Investment Bank (EIB)…

    By
    TBC
    Cambodia’s Rise as a Manufacturing and Investment Hub: A Global Perspective

    In recent years, Cambodia has emerged as a preferred destination for manufacturing…

    By
    Surya Narayan
  • Opinion Piece
    Opinion PieceShow More
    How Cambodian Entrepreneurs Can Successfully Set Up a Business in the United Kingdom, A Strategic Guide to Growth and Bilateral Benefits

    The United Kingdom continues to be a global leader in business, innovation,…

    By
    Jas Sohl
    Cambodia’s Trade Framework: A Gateway to Global Markets

    Over the past two decades, Cambodia has methodically established a robust regulatory…

    By
    Jas Sohl
    Cambodia’s Cashew Industry, A Future of Growth and Prosperity

    Cambodia’s agricultural sector is experiencing a strong rise in cashew production, making…

    By
    Jas Sohl
    INDO-PACIFIC IN SHARP FOCUS

    Conventional wisdom among scholars and diplomats is that the world cannot afford…

    By
    Dr Mohan Kumar
    The Role of Motivation and Dedication in Buddhist Practice: A Path to Spiritual Growth

    Every human life is seen as a precious opportunity, rich with the…

    By
    Samheng Boros
  • Press Release
    Press ReleaseShow More
    Techo International Airport Welcomes Business Delegation Led by French Ambassador
    Techo International Airport Welcomes Business Delegation Led by French Ambassador

    Phnom Penh, June 8, 2025 - The future Techo International Airport (TIA)…

    By
    TBC
    CIMB Singapore and Wing Bank Forge Strategic Partnership to Boost Cross-Border Financial Services Between Singapore and Cambodia
    CIMB Singapore and Wing Bank Forge Strategic Partnership to Boost Cross-Border Financial Services Between Singapore and Cambodia

    CIMB Singapore and Wing Bank (Cambodia) Plc have entered a strategic partnership…

    By
    TBC
    ASEAN Forum Honours OCIC, Pung Kheav Se, and Thierry Tea for Outstanding Business Impact and Leadership
    ASEAN Forum Honours OCIC, Pung Kheav Se, and Thierry Tea for Outstanding Business Impact and Leadership

    May, 2025, Kuala Lumpur, Malaysia — At the ASEAN Leadership & Partnership Forum 2025 in…

    By
    TBC
    Wing Bank Wins Awards for Digital Finance and Social Impact

    Wing Bank Sets a New Standard in Digital Finance and Social Impact,…

    By
    TBC
    Cambrew LTD Launches first ever Carlsberg Official Store on Wingmall, Expanding Digital Retail Presence in Cambodia
    Cambrew LTD Launches first ever Carlsberg Official Store on Wingmall, Expanding Digital Retail Presence in Cambodia

    Cambrew Ltd., part of the Carlsberg Group and one of the leading…

    By
    TBC
  • 🔥
  • Invest In Cambodia
  • Unsung Heroes/ Impact
  • The Better Asia
  • Agriculture
  • Technology
  • Places to Visit
  • Sustainability
Font ResizerAa
The Better CambodiaThe Better Cambodia
Search
  • Home
  • Stories
  • News
  • Startups
  • Cambodian Brands
  • Unsung Heroes/ Impact
  • Sustainability
  • Artisans of Cambodia
  • Invest In Cambodia
  • Guests Posts
  • The Better Asia
  • Governing Body
  • From The Founder’s Desk
  • Contact us
Have an existing account? Sign In
Follow US
  • My Saves
  • My Interests
  • My Feed
© 2025 TBC Media. All Rights Reserved.
The Better Cambodia > Blog > News > Ascott and OCIC collaborate for Somerset Diamond Bay Garden Phnom Penh
News

Ascott and OCIC collaborate for Somerset Diamond Bay Garden Phnom Penh

Last updated: April 1, 2024 7:05 am
TBC
128 Views
Share
6 Min Read
SHARE

Singapore-based lodging business unit The Ascott Limited (Ascott), a wholly-owned subsidiary of CapitaLand Investment, has recently entered into a management agreement with Overseas Cambodian Investment Corporation (OCIC) to launch Somerset Diamond Bay Garden Phnom Penh in Koh Pich.

The management agreement was formalized through the signing by Ms. Serena Lim, Chief Growth Officer of The Ascott Limited, and Dr. Lim Lina, Vice Chairwoman of the OCIC Group.

Situated within the larger Diamond Bay Garden development, this upcoming residential project boasts 37 floors and provides a stunning view of the Mekong River. Developed by OCIC, the property received the acclaimed Best Waterfront Condominium Asia-Pacific award by PropertyGuru in 2023.

Strategically located on the higher floors, Somerset Diamond Bay Garden represents a significant addition to Ascott, with the Somerset brand being the second-largest within the company’s global portfolio.

This collaboration underscores the shared commitment of Ascott and OCIC to enhance the quality of hospitality services and lifestyle offerings in Koh Pich, which is rapidly emerging as a growing Central Business District (CBD) in Phnom Penh.

Mr. David Cumming, Regional General Manager of Vietnam, Cambodia & Myanmar, Ascott, expressed his enthusiasm, stating, “We are excited to partner with OCIC and anticipate that Somerset Diamond Bay Garden Phnom Penh will establish itself as a premier destination for both business and leisure travelers. This agreement expands Ascott’s presence in Cambodia to six properties, comprising more than 1,200 units. Somerset Diamond Bay Garden Phnom Penh offers a diverse range of accommodations, from studios to three-bedroom units, catering to the demands of short-stay and long-stay visitors in the fast-growing Southeast part of Phnom Penh. We hope that this groundbreaking collaboration will set a positive precedent for future ventures between Ascott and OCIC.”

Koh Pich’s central location and its mix of commercial and residential neighborhoods make it an ideal choice for this development. Residents will enjoy unparalleled views of the Mekong, the Tonle Sap, and the Tonle Bassac rivers, along with the benefits of upcoming parks, cafes, and dining options. The area also benefits from the energy of the rising tech and start-up ecosystem. With the completion of the Riverwalk, residents of Koh Pich can enjoy early morning runs or simply relax by the riverside and embrace the refreshing breeze.

Diamond Bay Garden is positioned at the heart of Koh Pich, offering easy access to major landmarks such as the Independence Monument, the Royal Palace, the National Museum, the Riverside, Aeon Mall, and Norea City, all within a short five-to-ten-minute drive. This convenient location allows residents to enjoy the vibrancy of the local community while relishing the panoramic views of the Mekong River, the Tonle Sap, and the Phnom Penh City skyline.

The sense of community that has developed within the various neighborhoods of Koh Pich, coupled with ongoing infrastructure improvements, has contributed to the addition of new businesses and food options in the area over the past 18 months. This growth positions Somerset Diamond Bay Garden and its surroundings as a desirable destination.

- Advertisement -

The signing ceremony witnessed the presence of key guests, including Mr. Andrew Tay from the Singapore Chamber of Commerce, Mr. Anthony Galliano from AmCham Cambodia, and Ms. Ann Thida of PropNex.

Expressing his excitement about the collaboration, Thierry Tea, Vice President of OCIC Group, stated, “We are thrilled to collaborate with a world-class hospitality management partner like Ascott. Our aim is to maximize the value of Diamond Bay Garden for our existing and future customers.”

The real estate investment market in Cambodia has demonstrated its potential, with a dynamic economy reflected in sustained average GDP growth of 6% over the last decade. As a legacy developer, OCIC aims to bring innovation to its projects through strategic partnerships with established brands like Ascott and the Somerset brand, pushing closer towards global standards.

Upon completion, the Diamond Bay Garden property, which is financed by Canadia Bank, will offer an array of amenities across its 37 floors, including a swimming pool, gym, cafes, business center, laundry services, children’s playground, and rooftop dining facilities. With an expected average guaranteed rental return (GRR) of 8% within 10 years, the Diamond Bay Garden project presents attractive investment opportunities for customers in Cambodia and the wider Asia Pacific region.

About OCIC Group

OCIC Group is a Cambodian diversified conglomerate affiliated with Overseas Cambodian Investment Corporation. It encompasses a wide range of businesses and companies involved in property development, real estate, education, healthcare, airport services, construction and engineering, retail, hospitality, media, and leisure. Notable developments by OCIC Group include Techo International Airport, Koh Pich, Norea City, Chroy Changvar Satellite City, and Olympia City. OCIC Group is a member of Canadia Integrated Group. For more information, visit www.ocic.com.kh.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

Sign up for The Better Cambodia's newsletter to receive the latest articles and stories. Stay informed and inspired with our positive content!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any buzzstream.
Share This Article
Facebook Whatsapp Whatsapp LinkedIn Telegram Email Copy Link Print
ByTBC
Experience Cambodia's Brightest Moments with The Better Cambodia – Your Fastest Growing Positive News Media Company!
Previous Article Youth-Led Breakthrough Short Film Festival Ignites Social Change in Cambodia
Next Article Canadian International School of Phnom Penh to Expand Bassac Garden Campus
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

- Advertisement -

You Might Also Like

News

ARDB Allocates $100 Million to Support Agricultural Sector Stability

By
Surya Narayan
News

Happy 88th Birthday to Her Majesty Queen Mother Norodom Monineath Sihanouk!

By
TBC
AgricultureInvest In CambodiaNews

The fifth rice festival will begin on January 27 in Siem Reap.

By
Surya Narayan
News

Strategic Dialogues to Bolster Agricultural Investments in Cambodia

By
Surya Narayan
© 2025 TBC Media. All Rights Reserved.
No thanks.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

Not a member? Sign Up