NovXinghui Property Group & Thai Boon Roong Group
The name Xinghui Property Group & Thai Boon Roong Group in our directory is a joint developer attribution for Star Bay in Sihanoukville rather than a verified single legal entity. Knight Frank's H2 2021 Cambodia report explicitly describes Star Bay as a joint venture between Xing Hui Property and Thai Boon Roong Group. Buyers should therefore distinguish the partnership branding from the company that actually appears as seller and developer in the sale contract.
A company name is not a recommendation. Check the project company, contract and selected unit before reservation.
Overview
The name Xinghui Property Group & Thai Boon Roong Group in our directory is a joint developer attribution for Star Bay in Sihanoukville rather than a verified single legal entity. Knight Frank's H2 2021 Cambodia report explicitly describes Star Bay as a joint venture between Xing Hui Property and Thai Boon Roong Group. Buyers should therefore distinguish the partnership branding from the company that actually appears as seller and developer in the sale contract.
Track record
Star Bay has independent evidence of substantial physical delivery. Knight Frank reported that 3 of the project's 10 buildings, comprising about 1,800 units, had been completed in H2 2021. Separately, Evergrowth Bank's profile of director Peng Yixing states that the chairman of Xinghui Property Development (Cambodia) Co., Ltd. developed Star City, TK Star and Star Bay in Cambodia. This supports a broader Cambodian track record on the Xinghui side, but it does not establish that the same contracting entity acted as seller in every project.
Segments and prices
Star Bay was marketed as a large coastal condominium development. Knight Frank recorded asking prices from about US$2,200 per square metre of net saleable area in 2021. More recent commercial portals show materially different asking ranges for individual units, so these should not be treated as a single current developer price list; pricing needs to be checked against the specific unit, tower, fit-out condition and seller.
Geography
The confirmed geography of this partnership is centred on Star Bay in Sihanoukville. Knight Frank placed the project in Sangkat 3, while some current property listings use Sangkat Buon and an address on 2 Thnou Street near the coast. Because those public descriptions do not align perfectly, the precise administrative location should be taken from the title, contract and cadastral documents for the relevant tower rather than from a portal listing.
Reliability and public record
The strongest evidence in this profile is the independent confirmation of completed buildings and a substantial number of delivered units. At the same time, Star Bay was conceived as a multi-phase scheme: Knight Frank confirmed only 3 completed buildings out of 10 in 2021. Some newer portals describe the project as fully completed and quote different unit totals, but we did not find a recent independent source confirming delivery of all ten buildings. The completed stock is therefore verifiable, while the status of the remaining phases should be checked for the exact purchase.
What to verify
For Star Bay, start by identifying the exact tower and the legal entity named in the contract: the Xinghui and Thai Boon Roong partnership branding does not by itself show who receives the purchase funds or owes the contractual obligations. For the selected unit, request the relevant building completion or occupancy documentation, co-owned building registration, the individual private-unit title and an encumbrance check. A foreign buyer should also confirm that the unit is above ground level and that foreign quota remains available in that building; Cambodian law caps foreign ownership at 70% of the total surface area of private units. In an operating tower, also verify current management fees, the sinking or reserve fund, any unit-level arrears, the condition of common areas and the actual performance of the management company.
Projects in the NovAsia catalogue
This list is assembled from the project registry by the developer identifier; it is not a claim of a complete corporate portfolio.
Photo: Star Bay apartment listing on Khmer24Frequently asked questions
Is Xinghui Property Group & Thai Boon Roong Group a single company?
Public sources confirm that the two parties jointly participated in Star Bay, but they do not establish the combined name as one legal entity. Knight Frank describes the project as a joint venture between Xing Hui Property and Thai Boon Roong Group, while current market listings also refer to Star Bay Development Co Ltd. The transaction should therefore be assessed by the full legal name of the seller and its documented relationship to the project, not by the partnership brand alone.
Is Star Bay fully completed?
Independent evidence confirms that 3 of 10 buildings, comprising roughly 1,800 units, were completed by late 2021. Newer commercial sources show operating and ready stock and sometimes describe Star Bay as completed, but published totals and completion dates differ. A buyer should therefore verify the status of the exact tower containing the selected unit.
Can a foreign buyer own a Star Bay apartment in their own name?
Potentially yes, but only if the specific apartment is a registered private unit in a co-owned building, is above ground level and the building still has foreign quota available. Cambodian law limits foreign ownership to 70% of the total surface area of private units in a co-owned building. A marketing reference to freehold is therefore not enough; the status needs to be verified from the documents for the exact unit.
Sources
Sources are named for independent checking. NovAsia does not publish outbound links.
- Knight Frank · Cambodia Real Estate Highlights H2 2021 — Xing Hui Property and Thai Boon Roong Group joint venture, 3 of 10 Star Bay buildings completed, about 1,800 units and asking prices from US$2,200/sq m · 27.08.2026
- Evergrowth Specialized Bank · Leadership & Governance — Peng Yixing as chairman of Xinghui Property Development (Cambodia) Co., Ltd. and his connection to Star City, TK Star and Star Bay · 27.08.2026
- Council for the Development of Cambodia · Law on Providing Foreigners with Ownership Rights in Private Units of Co-Owned Buildings — legal basis for foreign ownership · 27.08.2026
- DFDL · Investment Guide to Real Estate in Cambodia 2025 — 70% cap and requirements for foreign ownership in co-owned buildings · 27.08.2026
- RUMAVI · Star Bay — current market listing with unit parameters, asking-price signals and attribution to Xinghui Property Group & Thai Boon Roong Group · 27.08.2026
- Riel Property · Thai Boon Roong Group / Star Bay Development Co Ltd — current market attribution of the project entity and operating completed stock · 27.08.2026