PH One Development (Cambodia) Limited

PH One Development (Cambodia) Limited is the project company through which Hong Lai Huat delivered D’Seaview in Sihanoukville. It does not own the CamHomes brand and was not the entity behind Royal Platinum. Its documented record is confined to one coastal mixed-use development.

That narrow structure can be useful for buyers. PH One’s result can be assessed without attributing the parent group’s entire portfolio to it.

D’Seaview was designed around several sources of demand

The project launched in 2015 and broke ground in 2016 on a 9,818-square-metre site roughly one kilometre from Sokha Beach. It contains 737 residential and 67 commercial units, office and retail space, and a ten-storey boutique hotel.

The mix reflected Sihanoukville’s market at the time. Homes targeted owners and tenants, commercial property depended on urban growth, and the hotel component looked to tourism. Diversification can reduce reliance on one segment in theory, although every part still depends on the wider condition of the city.

Construction was fully completed in FY2020. That is the defining fact in PH One’s history: a large first project reached physical delivery.

Unsold inventory became a rental asset

Hong Lai Huat’s 2025 report states that about 80% of the residential and commercial inventory had been sold. In October 2025, the remaining 20% was moved from development stock into investment property and retained for leasing.

For private owners, this means the group remains a significant landlord within the complex. It has a direct interest in the building’s operation while also competing with individual owners for tenants. That balance should be considered when reviewing rental rates and supply.

The listed parent company provides more information than buyers usually receive from a Cambodian SPV. Completion, sales and the strategy for remaining inventory can all be followed through public reporting.

PH One’s limitation is obvious: one project cannot show whether the company can repeat its performance across different cities and cycles. For a purchaser of a specific D’Seaview unit, that is not the central question. The building exists and can be assessed through condition, management, occupation and leasing.

PH One is most accurately viewed not as an abstract developer brand but as the legal and operating vehicle behind one completed asset. Its reputation depends entirely on how D’Seaview performs after Sihanoukville and its property market have passed through several very different periods.