A hospitality-first developer backed by OCIC Group, one of Cambodia's most powerful conglomerates. Dara Hotels Group operates 8 hospitality and wellness venues nationwide including the historic Independence Hotel in Sihanoukville. Their flagship development, The Elysee by Dara, brings French-inspired architecture and in-house hotel management to Koh Pich.
8
Hospitality Properties
960
Elysee Total Units
OCIC
Parent Group
3
Cities Covered
Developer Overview
This profile covers Dara Hotels Group (OCIC) as a Cambodia developer and operator, including The Elysee by Dara (Koh Pich) and the group's hotel portfolio across Phnom Penh, Sihanoukville and Siem Reap.
Dara Hotels Group (DHG) is the hospitality subsidiary of OCIC Group (Overseas Cambodian Investment Corporation), founded by Dr. Pung Kheav Se. OCIC is one of Cambodia's largest conglomerates - the group developed Koh Pich (Diamond Island) itself, Olympia City, and is the co-developer of the Techo International Airport through Cambodia Airport Investment Co (CAIC). Canadia Bank, also founded by Dr. Pung Kheav Se, is one of Cambodia's largest commercial banks.
DHG manages a portfolio of 8 hospitality and wellness venues across Cambodia: Independence Hotel by Dara (Sihanoukville), Dara Airport City Hotel and Spa (Phnom Penh), Olympia City Hotel by Dara (Phnom Penh), Angkor Green Gardens by Dara (Siem Reap), The Sixties Serviced Apartments by Dara (Phnom Penh), The Elysee Serviced Apartments by Dara (Phnom Penh), plus Jouvence Fitness and Jouvence Spa wellness brands.
Their flagship property development is The Elysee by Dara on Koh Pich - a French-inspired low-rise mixed-use cluster (5-7 floors) comprising approximately 960 total units including residential, office and retail components plus a 37-unit serviced apartment component. The development draws architectural inspiration from Parisian boulevards and the Arc de Triomphe, with European-style streetscapes unique in Phnom Penh. The development is completed and operational.
OCIC Group backing - subsidiary of Cambodia's largest infrastructure and property conglomerate (Koh Pich, Olympia City, Techo Airport)
In-house hotel management - Dara Hotels operates the serviced apartment component directly, not outsourced
Historic heritage - restored and repositioned the Independence Hotel in Sihanoukville, a nationally recognised beachfront landmark
Foreign ownership eligible on strata title units one floor above the ground floor (70% foreign quota per building)
Unique French-inspired architecture - European boulevard-style streetscapes and Parisian design language on Koh Pich
Canadia Bank relationship - strategic partnership with one of Cambodia's largest commercial banks (same founding group)
Did you know?
Hotel-managed condo units in Cambodia can offer hands-off rental income, but management fees, occupancy rates and net returns vary significantly by operator. Always confirm management terms, fee structures and exit conditions in writing before committing. See the full ownership costs breakdown.
Rating Breakdown
Overall: 3.5 / 5.0 - Hospitality-first developer with powerful conglomerate backing and in-house management. Limited by a single property development and boutique scale, but the OCIC connection and hotel expertise add real substance.
The Elysee completed and operational, plus 8 hospitality venues
3.5/ 5.0
Detailed Assessment
Dara Hotels Group has one completed property development in Cambodia - The Elysee by Dara on Koh Pich. While this is a limited development track record, it must be weighed against the group's broader operational portfolio of 8 hospitality and wellness venues across Phnom Penh, Sihanoukville and Siem Reap.
The OCIC parent group's track record is substantial - developing the entirety of Koh Pich island, Olympia City, and co-developing Techo International Airport. This conglomerate backing provides confidence beyond what a single-project developer would normally warrant.
Elysee completed 8 hospitality venues OCIC parent Canadia Group
The Elysee features genuine architectural distinction - the French-inspired low-rise design with European boulevard streetscapes is unlike anything else in Phnom Penh. The development was modelled on Parisian townhouses around the Arc de Triomphe. Fully-furnished apartments with western-style kitchens, Mekong River views and hotel-grade finishes.
The group's restoration of the Independence Hotel in Sihanoukville - a historic beachfront resort originally completed in the 1960s as a national landmark - demonstrates real heritage restoration capability and respect for architectural quality. Reviews for both Independence Hotel and The Elysee are generally positive.
As a completed development, The Elysee is primarily a resale and rental market proposition. No structured GRR programmes have been publicly reported in the same manner as some larger developers. Estimated yields range from 5-7% for residential and 7-9% for office suites.
The Canadia Bank strategic partnership may offer financing advantages, but specific buyer-facing payment plans are not widely documented. Investors should verify current terms directly with the developer or through Riel Property.
Est. 5-9% yields Canadia Bank link Completed project
Management PartnershipIn-house Dara Hotels management
Own brand manages serviced apartments, 8 hotel portfolio
4.0/ 5.0
Detailed Assessment
Unlike many Cambodian developers who outsource management, Dara Hotels manages The Elysee's serviced apartments directly. The 37-unit serviced component operates under the Dara brand with housekeeping, fitness, steam, sauna and WiFi included. This in-house management model means the developer has direct incentive to maintain quality.
The broader 8-property portfolio across three cities demonstrates genuine operational hospitality experience. The group is a member of AmCham Cambodia, EuroCham Cambodia and the International Business Chamber of Cambodia, suggesting international credibility.
In-house management 8-property portfolio AmCham member EuroCham member
Design & InnovationUnique French-Parisian concept
Only Parisian-style development in Phnom Penh, mixed-use village
4.0/ 5.0
Detailed Assessment
The Elysee's French-inspired design is genuinely unique in the Phnom Penh market. Rather than a typical high-rise tower, the development creates a low-rise boutique village with European boulevard streetscapes, integrated retail and dining. This positions it differently from the majority of Koh Pich's glass-and-steel towers.
The mixed-use concept integrates residential, office, retail and serviced apartments within a walkable village environment. Mekong River views, fully-furnished units from studio to 5-bedroom configurations and in-house leisure facilities. The development has hosted community events including FIFA World Cup screenings in 2022.
Unique concept Low-rise village Mixed-use River views Community events
Dara Group Portfolio
All known Dara Hotels Group developments and hospitality venues across Cambodia. Projects listed on Riel Property are linked. Foreign strata title ownership is available above the ground floor at The Elysee.
Historic beachfront resort originally completed in the 1960s. Renovated and repositioned under the Dara brand. 4-star resort with private beach.
Hotel
Dara Airport City Hotel & Spa
Phnom Penh
Hotel and spa near Phnom Penh International Airport. Part of the Dara Hotels operational portfolio.
Hotel
Olympia City Hotel by Dara
Phnom Penh
Hotel within the OCIC Olympia City mixed-use complex. Demonstrates the OCIC-Dara operational partnership.
Hotel
Angkor Green Gardens by Dara
Siem Reap
Boutique hotel in Siem Reap, Cambodia's primary tourist destination near Angkor Wat. Extends the Dara brand beyond Phnom Penh.
Hotel
The Sixties Serviced Apartments by Dara
Phnom Penh
Serviced apartment operation in Phnom Penh. Part of the Dara Hotels managed accommodation portfolio.
Serviced Apartments
Jouvence Fitness & Jouvence Spa
Phnom Penh / Sihanoukville
Wellness brands operated by Dara Hotels Group. Includes fitness and spa venues across the portfolio.
Wellness
Did you know?
Conglomerate-backed developers in Cambodia often benefit from land bank access and infrastructure support, but corporate structures can be complex. Understanding the parent company relationship helps assess long-term project viability. Read the step-by-step remote buying guide.
Investment Suitability
Dara Group targets investors seeking boutique, architecturally distinctive properties on Koh Pich with in-house hotel management and conglomerate backing.
OCIC Conglomerate
Backed by OCIC Group - developer of Koh Pich, Olympia City and co-developer of Techo International Airport
In-House Management
Dara Hotels manages the serviced apartment component directly - developer-operator alignment
Unique Architecture
The only French-inspired boutique village concept in Phnom Penh - strong differentiation
Foreign Ownership
Strata title ownership for foreign buyers on units one floor above the ground floor
Best for
Buyers wanting Koh Pich location with serviced apartment-style operations, boutique European concept, and conglomerate-backed developer. Suits investors who value architectural distinction and in-house management over high-rise scale.
Considerations (who should think twice)
Buyers seeking big-tower liquidity, globally branded hotel operators (Accor, Marriott, Ascott), documented GRR structures, or high-rise capital appreciation plays should weigh these factors carefully. This is a boutique proposition.
Payment Terms
The Elysee is a completed development. Units are available on the resale and rental market. Pricing and terms should be confirmed directly.
Residential
Studio to 5BR. Fully furnished with western kitchen. Mekong River views. Est. yield 5-7%
Office Suites
Strata-title offices within the mixed-use cluster. Est. yield 7-9%. Koh Pich business location
Serviced Apartments
37 units managed by Dara Hotels. Rental from ~US$450/month. Housekeeping, gym, WiFi included
Retail
Ground-floor retail and F&B shopfronts within the European boulevard streetscape
Yields are estimated and indicative. Verify current pricing and availability directly. See our payment plan structures guide for context.
Strengths & Considerations
Strengths
OCIC Group backing - subsidiary of Cambodia's most influential infrastructure and property conglomerate
In-house hotel management - Dara Hotels operates the serviced component directly, ensuring developer-operator alignment
Unique French-inspired architecture - only Parisian-style boutique village in Phnom Penh, strong differentiation
Historic heritage credentials - restoration and repositioning of the Independence Hotel in Sihanoukville demonstrates quality commitment
Koh Pich location - Phnom Penh's flagship modern district with AEON Mall, NagaWorld, international schools
Canadia Bank relationship - strategic partnership with one of Cambodia's largest commercial banks
Considerations
Single property development - limited track record as a property developer compared to hospitality operations
OCIC parent has developed entire districts - conglomerate track record is extensive
Boutique scale - ~960 total units across a low-rise cluster is small by Koh Pich standards
Boutique positioning attracts premium tenants seeking an alternative to high-rise towers
No structured GRR documented - limited published payment plan or guarantee data
In-house management provides direct rental income pathway without GRR complexity
Low-rise in a high-rise market - 5-7 floors may limit capital appreciation versus taller neighbours
Low-rise exclusivity and European village feel commands rental premium per square metre
Dara Hotels not internationally branded - local hotel brand versus Accor, Marriott or Ascott
In-house brand means lower management fees and more flexibility for owners
Frequently Asked Questions
Who is Dara Group and what is their connection to OCIC?
Dara Hotels Group (DHG) is the hospitality subsidiary of OCIC Group (Overseas Cambodian Investment Corporation), one of Cambodia's largest conglomerates founded by Dr. Pung Kheav Se. OCIC developed Koh Pich island, Olympia City, and is co-developer of the Techo International Airport. Dara Hotels manages 8 hospitality and wellness venues across Cambodia. See our developer directory for more Cambodia developers.
What is The Elysee by Dara?
The Elysee by Dara is a French-inspired low-rise mixed-use development on Koh Pich (Diamond Island), Phnom Penh. It comprises approximately 960 total units including residential, office and retail components across 5-7 floors plus a 37-unit serviced apartment component operated by Dara Hotels with Mekong River views. The development is completed and operational. See the full project page.
Can foreigners buy units in The Elysee by Dara?
Yes. Foreign buyers may purchase strata title units one floor above the ground floor, subject to the 70% foreign ownership quota per building. Strata title provides unit ownership, not land ownership. For full details see our strata title ownership guide.
What is the Independence Hotel by Dara?
Independence Hotel by Dara is a historic beachfront resort in Sihanoukville, originally completed in the 1960s as a landmark of Cambodia's post-independence era. Later renovated and repositioned under the Dara brand with support from Canadia Group, it now operates as a 4-star resort with private beach, multiple restaurants and the Jouvence Spa. It demonstrates Dara Hotels' heritage restoration credentials. See our best areas guide.
What rental yields can investors expect from The Elysee?
Estimated yields range from approximately 5-7% for residential units and 7-9% for office suites. The serviced apartment component managed by Dara Hotels targets expatriate and corporate tenants. All yields are indicative and subject to market conditions - verify directly before investing. See our rental management guide.
How does Riel Property rate Dara Group?
We rate Dara Group 3.5/5.0, reflecting strong hospitality credentials, OCIC conglomerate backing, in-house hotel management and unique architectural design. The rating is balanced by a single completed property development, boutique scale and limited published GRR data. See our full developer directory for comparisons.
How does Riel Property rate developers?
We assess developers across five criteria: delivery track record, build quality, payment flexibility, management partnership, and design and innovation. Every developer we list meets our minimum listing threshold. Ratings highlight where enhanced due diligence is recommended. Our ratings provide transparent guidance to help you compare options and make informed decisions. See our full developer directory.
Speak to our team about available units, pricing, rental yields and Dara Hotels management terms on Koh Pich. We provide after-sales support throughout your ownership. No obligation - all terms confirmed in writing.
Information on this page is for general guidance only. Riel Property is not affiliated with Dara Hotels Group, OCIC Group or Canadia Group. Information compiled from OCIC, Dara Hotels, realestate.com.kh, Khmer Times, CBRE Cambodia, AmCham Cambodia, EuroCham Cambodia and other public sources. Yields, pricing and project details are indicative and subject to change. Always conduct independent due diligence before making investment decisions. Foreign ownership is subject to Cambodian law.
Our rating assesses developers on five criteria. Scores range from 3.0 (minimum listing threshold) to 5.0 (outstanding), awarded in half or full increments only. A 3.0 rating indicates enhanced due diligence is recommended.
