The Scarlet Sihanoukville Co. Ltd. is a joint venture company. Our team of Cambodian and international executives has expertise in property sales, development, marketing and financing, as well as a long track record of success in Cambodia and international markets, including the US, Singapore, Korea and Vietnam.
We have the strongest sales reach within Cambodia as well as deep links to institutional and individual buyers outside the Kingdom. We are working with top-tier architectural, engineering, construction and property-management firms.
As a new wave of investment into Cambodia’s property market flows to the Kingdom’s coast, the first top-end project rising in the heart of Sihanoukville is tapping surging demand for high-end vacation homes among the country’s rapidly expanding middle class with Cambodia’s first-ever luxury timeshare membership.
The Scarlet Sihanoukville will provide fully-serviced luxury suites for less than $20 per day through its exclusive timeshare memberships, executives at the company building the iconic project said. About 30 percent of the timeshares are reserved for the domestic market.
“Our market research found rising demand among Cambodians for vacation homes that offer high-end luxury and service, and we have priced our timeshare memberships within a range that is affordable for this exciting and expanding market,” explained Andrew J. Ahn, CEO of the Scarlet Sihanoukville Co. Ltd.
Members will receive guaranteed access to luxury suites for two weeks annually over a 35-year period, including full access to The Scarlet’s members-only facilities and amenities.
“We are opening a new world of vacation homes in the Cambodian market where lifestyle expectations are rising swiftly,” Mr. Ahn said.
Members of The Scarlet have access to luxury vacation homes in Sihanoukville and around the world, as well as a lucrative revenue stream for unused timeshare days, executives said. They can rent unused timeshares at daily rates or exchange them for suites at more than 5,000 resorts globally through The Scarlet’s exclusive partner networks.
The Scarlet will officially open in December 2018, after two months of pre-opening operation, making it the first luxury condominium project to open in Sihanoukville. Its 32 floors offer one and two-bedroom suites, penthouse duplexes and fully serviced offices. Facilities include a rooftop infinity pool, members-only club lounge, state-of-the-art business center, fitness center, spa and fine dining.
“We are bringing a new level of service, security and exclusivity to coastal Cambodia,” Mr. Ahn said, explaining that the building’s iconic design fuses privacy with the most spectacular views along Cambodia’s coast.
With infrastructure and transportation upgrades gaining speed, an expanding port and Special Economic Zone, Sihanoukville is fast emerging as a business hub as well as resort. The number of tourists and business travelers visiting the province’s beaches and islands has surpassed 2 million a year and continues to expand at about 20 percent a year, according to data from provincial tourism departments that combine domestic and foreign visitors. The number of foreign tourists and business travelers visiting the coast is projected to surpass 500,000 this year, according to Ministry of Tourism data.
The wheels are in motion.
The Scarlet is also debuting as the growth of the timeshare market accelerates in Asia. Also known as “vacation ownership”, timeshares are a multibillion dollar a year industry globally. An estimated one in eight US households own timeshares. Industry experts are already seeing a surge in luxury timeshare purchases in East Asia, with Southeast Asia being among the top destinations.
Industry experts are closely following Cambodia’s entry to this lucrative market. They say it has the potential to rapidly transform tourism along the country’s coastline by dramatically increasing the number of high-end visitor