Singapore's HLH Group, the developer of the mixed-use D’Seaview project in Sihanoukville, announced yesterday that it has severed ties with Yanjian Group Co Ltd and has awarded the $35 million project to the Chinese state-owned energy and construction firm Sinohydro Corporation Ltd.
Dylan Ong, business development manager for HLH, said yesterday that company chose Sinohydro as lead contractor because the company “was more price competitive” and that Yanijan could not meet the requirements of the construction agreement.
“We kept the $10,000 tender placed by Yanijan, which is standard market practice,” he said. “Sinohydro has a better image, is a more trusted partner and can build with quality.”
The mixed-use complex, once completed, will comprise more than 700 condominium units, as well as a 98-room boutique hotel. The property will also include shopping areas and restaurants.
Ong said that the change in contractors would not delay the construction of the development, slated for completion in 2018.
“We have already reached 53 percent sales for residential units and have to make sure that construction is completed on time,” he said.
Sinohydro and its subsidiaries are involved in large-scale construction and infrastructure projects. The company was responsible for construction and operation of the 193-megawatt Kamchay hydroelectric dam in Kampot province.