New opportunities for timeshare in Southeast Asia are near, as the nation of Cambodia plans to embrace the industry. Plans for two new luxury resorts in Cambodia have been finalized as their construction draws nearer, with developers searching for ways to bring in long-term real estate investment. With both a seaside and a mountaintop resort totaling more than $30 million in value being planned, avid Southeast Asia travelers will have another resource at their disposal to enjoy a future of vacations to the region.
Construction for the new resorts is expected to begin in 2018, with doors opening by the end of that year. The largest of the new resorts is The Scarlet, a 200-unit tower of condos planned for the popular coastal destination of Sihanoukville. At a cost of $30 million, the tower won’t be cheap, but is expected to drive revenue through both vacation ownership and real estate. The Scarlet offers a dynamic ownership style—people can either buy condo units outright for anywhere from $100,000 to $500,000, or they can purchase a vacation ownership club membership with the resort for between $8,000 and $40,000. Buying a timeshare at The Scarlet will entitle vacationers to two weeks per year at the location, which will also include on-site amenities like a pool, a gym, and a club lounge.
Also joining the ranks of new timeshare resorts in Cambodia is a mountain-based resort in Kirirom National Park. Located further inland, the Kirirom resort will be significantly smaller than The Scarlet, with a mere 18 units perched on Kirirom Mountain. At a cost of $3 million, the Kirirom resort will cater more toward high-end Cambodian-based owners and expatriates. Ownership intervals at the resort will cost $20,000, with owners gaining 26 days each year for 45 years.
Andrew Ahn, the CEO of The Scarlet, believes the timeshare industry can flourish in Cambodia. Citing growing tourism numbers, Ahn states “our research as well as research conducted by regional and global firms shows the surge of tourism and business activity in [Preah] Sihanouk is just the beginning. If tourism continues to grow, our project will succeed.”
Thanks to a booming vacation ownership industry in neighboring Thailand and a budding one in China, Southeast Asia timeshare seems like a promising industry. With destinations throughout the region becoming trendier and more appealing to younger travelers, the opportunity to capitalize within the vacation ownership space in Cambodia is apparent. However, legal regulations in regards to timeshare in Cambodia are lacking, presenting several roadblocks for The Scarlet and the Kirirom property. Regardless, plans for The Scarlet are moving forward, and plans for two additional phases in the future are also being rolled out.
Similar in climate and landscape to its timeshare-friendly neighbor, Thailand, Cambodia is an emerging vacation destination covered in lush Southeast Asian jungle. Boasting a small, yet beautiful coastline, the area is ripe for luxury beach resorts, perhaps fueling some of the ambitious timeshare plans there. Places like Sihanoukville are home to spectacular beaches that are relatively underdeveloped compared to some of Thailand’s spots, and offer instant sunshine and nighttime beach bar parties at sites like Otres Beach and Sokha Beach. Other areas like Kampot Province are perfect for those looking to hike through the dazzling countryside or plunge into winding limestone caves. Other attractions, like the mystifying Angkor Wat temple and the architectural wonder of the Bayon temple within Angkor Thom. With enough to offer any type of traveler, timeshare resorts in Cambodia would certainly be a welcome addition to the blossoming destination.
While we’ll have to wait a little while longer for timeshares to hit Cambodia, you can still explore exciting vacation ownership opportunities throughout Asia. Browse the timeshare resale and timeshare rental advertisements on SellMyTimeshareNow.com to save as much as 70% on exclusive ownership accommodations!