STAR BAY – SANGKAT BUON, SIHANOUKVILLE
Developer: Thai Boon Roong Group (Star Bay Development Co Ltd)
About This Development
Star Bay Sihanoukville condo is a large-scale coastal mixed-use development by Thai Boon Roong Group (multi-phase). High-rise towers with studio to 2-bed units (28-95 sqm). Foreign ownership eligible (strata title, subject to quota). Reported as completed 2022 – verify status in writing.
Project Overview
Pricing, yields, and availability are indicative until confirmed in the latest developer pack. Sales progress, furnishing scope, and rental assumptions are reported/indicative. Sihanoukville market conditions may significantly impact returns.
Star Bay is one of Sihanoukville’s largest coastal mixed-use developments. Developed by Thai Boon Roong Group (verify developer structure in the deal pack), the project features multiple high-rise towers with sea-facing units, integrated commercial spaces, and resort-style amenities. Foreign ownership is available via strata title (subject to quota). See: Developer hub.
Potential tenant profile: Tourists, business travellers, and long-stay expats attracted to Sihanoukville’s beaches and future infrastructure. Note: rental demand is closely tied to tourism recovery and market conditions.
Deal Pack (Verified Docs) – click to view what you’ll receive
- Current price list + availability (by unit type and floor)
- Payment terms + transfer details
- Rental assumptions and market context (Sihanoukville comparables)
- Floor plans and unit schedule
- Foreign ownership eligibility summary (strata title / hard title; subject to quota + eligible floors)
- SPA checklist (what to confirm with your lawyer)
- Within 2-4 hours: Full deal pack sent to your email.
- Within 24 hours: Team follow-up to answer questions.
- No pressure: Take your time reviewing.
Amenities
Star Bay is designed as an integrated coastal community with resort-style facilities across the development.
Lifestyle
Building Services
Why Sihanoukville?
Sihanoukville is Cambodia’s primary coastal city and deep-water port. The city offers beachfront positioning with potential for hospitality development as infrastructure improves.
Market position: Emerging coastal destination – higher risk, higher potential
Infrastructure: New expressway to Phnom Penh (completed), port expansion ongoing
Tourism: Recovering from 2020-2022 downturn – timeline uncertain
Key driver: Long-term appreciation tied to infrastructure and tourism recovery
Location Map
Approximate area map (Sihanoukville coastal area). Request the exact site pin in the deal pack.
Developer: Thai Boon Roong Group
Thai Boon Roong Group is a large regional developer known for ambitious high-rise and mixed-use projects across Cambodia. The developer has significant land holdings and capital resources for multi-phase coastal developments. Verify developer structure and track record in the deal pack. See: Developer hub.
Developer Profile
Thai Boon Roong has significant land holdings in Sihanoukville. Independent due diligence is recommended. See our developer verification guide.
Unit Types and Sizes
Star Bay offers a range of unit types from compact studios to larger 2-bedroom apartments, plus SOHO and commercial spaces.
Studio (28-36 sqm)
From ~$55,000. Budget-friendly coastal investment. High demand for short-term tourist rentals when market conditions permit.
One Bedroom (45-58 sqm)
From ~$82,000. Strongest rental demand from both tourists and business travellers. Good balance of space and value.
Two Bedroom (70-95 sqm)
From ~$135,000. Suited for longer stays and families. Sea-view premiums apply to higher floors.
SOHO Units (30-50 sqm)
Flexible live-work units. Commercial use potential depending on building regulations and zoning.
Holding Costs
Typical annual costs for a unit at Star Bay. Confirm exact figures with the developer or management.
Rental and Yields
Star Bay targets rental demand from tourists, business travellers, and long-stay expats. Returns are dependent on Sihanoukville’s tourism recovery and market conditions.
Yield Drivers
Tourism recovery potential, expressway connectivity, port expansion, beachfront positioning, affordable entry pricing, integrated amenities.
Yield Risks
Tourism recovery timeline uncertain, oversupply concerns, market volatility, management dependency, seasonal fluctuations, liquidity constraints.
Studio: ~$300-500/month (long-term) or ~$30-50/night (short-term)
1 Bedroom: ~$500-700/month (long-term) or ~$50-80/night (short-term)
2 Bedroom: ~$700-1,000/month (long-term)
Indicative gross yield: ~7-9% based on coastal comparables (under normal conditions)
Net yield lower after costs. Current market conditions may vary significantly from normalised assumptions.
Rental management guide (Phnom Penh focus, principles apply)
Regional Comparison: Coastal Markets
Sihanoukville offers some of Southeast Asia’s most affordable coastal entry points. However, this comes with higher risk compared to established Thai or Vietnamese beach markets. Read: Why Cambodia for freehold investment
Established market, proven tourism, mature infrastructure
Emerging market, higher risk, highest upside potential
Strong tourism, leasehold only, good infrastructure
Historic benchmark ranges for coastal new-builds (2024 data). Emerging markets carry higher risk – conduct independent due diligence.
Can Foreigners Own This?
Yes. Eligible strata-title (hard title) units above ground floor may be foreign-owned, subject to the building’s foreign ownership quota and eligible floors. Confirm quota status and eligible floors in writing.
Ownership type: Strata title (hard title) – genuine ownership
Eligible floors: Above ground floor (confirm specific floors)
Foreign quota: Max 70% of building
Requirements: Valid passport
Transfer: Can sell, inherit, or transfer
Learn more: Foreign Buyer Guides – Strata Title Explained
Is This Right For You?
✓ This suits investors who want:
Affordable coastal entry point – Long-term appreciation play – Sea views and beachfront lifestyle – Diversification into emerging coastal market – Higher risk tolerance for higher potential returns – Believe in Sihanoukville’s recovery
✗ This may not suit investors who:
Need immediate rental income – Prefer low-risk, stable markets – Want high liquidity and fast resale – Are uncomfortable with market volatility – Prefer established tourism destinations – Need predictable returns
Risk and Mitigations
→ Sihanoukville’s tourism timeline is unclear; rental income may be lower than projections until market normalises
→ Large-scale developments have added significant inventory; absorption depends on tourism growth
→ Sihanoukville has a developing resale market; exit timeline may be longer than Phnom Penh
→ Prices and rents have fluctuated significantly; capital preservation not guaranteed
Frequently Asked Questions
Can foreigners own property at Star Bay?
Yes. Foreign buyers can purchase eligible strata-title (hard title) units above ground floor, subject to the building’s 70% foreign ownership quota. Confirm eligible floors and quota status in writing. See our strata title guide for details.
What is the expected rental yield?
Indicative gross yields of 7-9% based on Sihanoukville coastal comparables under normalised market conditions. Current market may differ significantly. Net yields will be lower after management fees and holding costs. See our rental management guide for more details.
Is Star Bay completed?
The project is reported as completed in 2022. Star Bay is a large multi-phase development – confirm current phase status, available units, and handover timeline with us.
What are the main risks of investing in Sihanoukville?
Key risks include tourism recovery uncertainty, oversupply from large-scale developments, limited liquidity in the resale market, and price volatility. Sihanoukville is a higher-risk market compared to Phnom Penh. See our due diligence checklist.
How do I manage the property remotely?
Star Bay offers building management services. Third-party property management is also available (typically 10-15% of rent for coastal properties). Read our property management guide for what to expect.
Are sea-view units worth the premium?
Sea-view units typically command higher rents and better resale liquidity in coastal markets. However, the premium depends on floor level, orientation, and market conditions. View options in person or via video tour if possible.
How do I exit/sell my investment?
You can sell to other foreigners or Cambodians. Sihanoukville has a developing resale market with limited liquidity – realistic pricing and longer timelines may be needed. See our exit strategy guide.
What taxes and fees apply?
Transfer tax is typically 4% (often split buyer/seller). Annual property tax is 0.1% of assessed value. Rental income may be taxable. See our taxes and fees guide for full details.
Is short-term rental (Airbnb) viable?
When tourism normalises, short-term rentals have potential in Sihanoukville. However, seasonality, management complexity, and competition from hotels should be factored in. Confirm building rules on short-term letting.
How does the new expressway impact Sihanoukville?
The Phnom Penh-Sihanoukville expressway (completed 2023) reduces travel time to ~2 hours, improving accessibility for domestic tourism and business travel. This is a positive long-term infrastructure catalyst.
Exit Strategy
Read our full exit strategy guide for detailed liquidity analysis.
Investor Essentials – Guides for Foreign Buyers
Explore Similar Projects
Important Disclaimers
- Prices: Indicative and subject to change.
- Yields: Gross estimates based on normalised market. Current conditions may vary significantly.
- Market risk: Sihanoukville is a higher-risk market with uncertain recovery timeline.
- Foreign ownership: Per 2010 law, subject to quota.
- Due diligence: Independent advice strongly recommended for Sihanoukville investments.
Last updated: 19 January 2026. Subject to change.
Ready to Explore Star Bay?
Secure your unit in Sihanoukville’s large-scale coastal development. Affordable entry point with sea views, strata title foreign ownership, and long-term appreciation potential. Get pricing, floorplans, and answers to your questions.
Development Details
| Developer | Thai Boon Roong Group (Star Bay Development Co Ltd) |
| Property Type | Apartment |
| Location | Sihanoukville |
| Total Units | 1,500 |
| Price Range | $82,000 - $135,000 |
| Expected Completion | 2024 |
| Current Status | Ready |
| Posted Date | January 19, 2026 |
| Development ID | #684 |
