About This Development
Diamond Bay Garden Phnom Penh is a 39-storey waterfront condo for sale in Phnom Penh, Cambodia. 591 units with Somerset/Ascott managed floors and GRR options (developer-reported). Foreign ownership eligible (strata title).
Project Overview
Developer-reported: Location (Koh Pich), developer (OCIC affiliate), foreign ownership eligibility. Construction and sales progress subject to verification. Pricing indicative – confirm current availability.
GRR units may be available on floors 27-37, managed by Somerset (The Ascott Limited). International hospitality standards, housekeeping services, and Guaranteed Rental Return (GRR) programs for hands-off investors. If GRR is offered, terms and exclusions should be confirmed in writing.
Waterfront positioning at competitive pricing with Somerset-managed option (developer-reported)
Diamond Bay Garden is a 39-storey waterfront condominium on Koh Pich (Diamond Island), developed by Diamond Bay Garden Co. (OCIC affiliate). This foreign ownership eligible project offers 591 units across three towers, with Somerset-managed GRR units (floors 27-37) available for hands-off investors (terms to be confirmed). At indicative pricing of ~$2,000-2,100/sqm with entry from ~$106k and indicative yields of 5.5-7%, Diamond Bay Garden condo for sale in Phnom Penh, Cambodia targets investors seeking waterfront condo investment with international hotel operator backing and OCIC developer credibility.
Who rents here: Expatriates, corporate tenants, embassy staff, professionals seeking waterfront lifestyle, short-stay guests (Somerset floors).
Deal Pack – click to view what you receive
- Current availability + pricing (by stack and floor)
- Payment plan + milestones (to be confirmed in writing)
- GRR program details (Somerset floors 27-37 – terms TBC)
- Rental comps + yield analysis (Koh Pich comparables)
- Floor plans and unit layouts
- Foreign ownership eligibility summary (strata/hard title)
- SPA checklist (what to confirm with lawyer)
- Booking: To be confirmed in writing
- SPA Signing: Deposit percentage TBC
- Construction: Staged payments TBC
- Handover: Final payment TBC
All payment terms should be confirmed directly with the developer before commitment.
Amenities: Award-Winning Waterfront Living
Diamond Bay Garden allocates 40% of its territory to amenities and green spaces (developer-reported). The development offers resort-style facilities across three towers.
Waterfront & Recreation
Wellness & Fitness
Family & Community
Building Services
Why Koh Pich? Phnom Penh’s Waterfront District
Koh Pich (Diamond Island) is an urban island in central Phnom Penh, surrounded by the Mekong, Tonle Sap, and Bassac rivers. The island has evolved into a lifestyle district with modern infrastructure, international schools, restaurants, entertainment venues, and business centers. Diamond Bay Garden occupies a waterfront position with river views.
Character: Waterfront island, developing CBD
Appeal: River views, modern infrastructure, lifestyle amenities
Connectivity: Koh Norea Bridge, access to BKK1 and Tonle Bassac
Tenant base: Expatriates, professionals, corporate tenants, families
Location Map
Diamond Bay Garden is located on Koh Pich (Diamond Island), near Tonle Bassac, Phnom Penh – with waterfront positioning overlooking the Bassac River.
Approximate area map – Koh Pich waterfront
Developer Overview
Diamond Bay Garden is developed by Diamond Bay Garden Co., Ltd, an affiliate of OCIC (Overseas Cambodian Investment Corporation) – one of Cambodia’s established property developers with major infrastructure and landmark projects across Phnom Penh.
Diamond Bay Garden Co. / OCIC
Somerset by The Ascott Limited (Operator)
Annual Holding Costs
Understanding your ongoing costs is essential for accurate yield calculations. Here’s indicative guidance for Diamond Bay Garden:
Somerset-managed units (F27-37) may have different cost structures. Confirm all fees before purchase.
Unit Types & Pricing
Diamond Bay Garden offers studio to 3-bedroom layouts across three towers. Somerset-managed GRR units may be available on floors 27-37 (terms to be confirmed).
Unit Type Details
| Type | Beds | Size (Net) | Indicative Price | Target Tenant |
|---|---|---|---|---|
| Studio SC | Studio | ~60-62sqm | From ~$106k | Singles, short-stay, rental |
| Studio SR | Studio | ~60sqm | From ~$132k | River view premium |
| 1-Bed | 1 Bed | ~75sqm | From ~$133k | Couples, professionals |
| 2-Bed 2CD | 2 Bed | ~106sqm | From ~$183k | Families, sharers |
| 2-Bed 2C | 2 Bed | ~120sqm | From ~$264k | Premium families |
| 3-Bed | 3 Bed | ~170sqm | From ~$341k | Large families, executives |
| GRR Studio | Studio | ~60sqm | From ~$174k | Hands-off investors (F27-37) |
GRR units (floors 27-37): May be managed by Somerset (The Ascott Limited). Higher entry price but includes guaranteed rental returns and housekeeping services. Confirm terms and availability in writing.
Rental & Yields
Koh Pich attracts expatriates, corporate professionals, and families seeking waterfront lifestyle. Diamond Bay Garden benefits from Somerset operator backing on upper floors with GRR programs that may be available (terms to be confirmed).
Gross rent (studio Koh Pich): ~$500-700/month
Annual gross rent: ~$6,000-8,400
Purchase price: ~$106k-130k
Indicative gross yield: ~5.5-7%
Net yield lower after management fees, service charge, and voids. GRR units offer guaranteed returns but at higher entry price – terms to be confirmed.
Tenant Profile
Standard leases are 12 months with 1-2 months deposit. Somerset floors offer short-stay and long-stay options with GRR programs (terms to be confirmed).
Regional Comparison: Why Cambodia?
Cambodia remains one of Southeast Asia’s more accessible property markets. Phnom Penh entry prices can be materially lower than neighbouring capitals, while indicative gross yields can be higher than some regional markets, though returns vary materially by unit type, rent achieved, and occupancy. Read: Why Cambodia for freehold investment
Mature market, lower yields, higher entry barrier
Koh Pich waterfront, Somerset option available
Strong growth, but leasehold and price premium
Historic benchmark ranges for prime new-builds (2024 data). Returns vary by unit type, rent achieved, and occupancy.
Can Foreigners Own This?
Yes. Foreign ownership in Cambodia (strata title) is available under the 2010 Foreign Ownership Law. Units from the first floor upward are eligible, subject to the 70% foreign quota.
Ownership type: Strata title (hard title) – genuine ownership
Eligible floors: First floor and above
Foreign quota: Up to 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:
Koh Pich waterfront positioning | OCIC developer credibility | Somerset GRR option for hands-off income | Competitive Phnom Penh pricing | 5.5-7% indicative yields | River views and lifestyle amenities | Tenant demand from expats and professionals
This may not suit investors who:
Want completed buildings (Q3 2026 target) | Prefer BKK1 or Tonle Bassac established areas | Seeking boutique low-density developments | Want immediate rental income | Are uncomfortable with construction risk | Prefer self-management over operator programs
Risk & Mitigations
Under construction with Q3 2026 target. OCIC backing provides financial stability. Track progress via developer updates. See due diligence checklist.
Koh Pich is still developing as a district. Strong infrastructure investment ongoing but less established than BKK1/Tonle Bassac.
Somerset GRR terms vary – confirm return rates, duration, and exit clauses before committing. Higher entry price for GRR units.
Confirm service charge and management fees. Somerset floors may have different cost structures. See taxes & fees guide.
Frequently Asked Questions
Can foreigners buy at Diamond Bay Garden?
Yes. Foreigners can purchase strata title units under Cambodia’s 2010 Foreign Ownership Law. Units from the first floor upward are eligible, subject to the 70% foreign quota. Learn more about strata title ownership.
What is the estimated rental yield?
Indicative gross yields of 5.5-7% based on Koh Pich waterfront comparables. Somerset-managed units (floors 27-37) may offer GRR programs with guaranteed returns (terms to be confirmed). Net yields lower after management fees and costs.
What is the Somerset/Ascott GRR option?
Units on floors 27-37 may be managed by Somerset (The Ascott Limited), offering international hospitality standards, housekeeping services, and Guaranteed Rental Return (GRR) programs for hands-off investors. Higher entry price but turnkey income. Terms should be confirmed in writing.
When is completion expected?
Target handover is Q3 2026. The project is developed by Diamond Bay Garden Co., an OCIC affiliate with strong financial backing. Construction progress should be confirmed with the developer.
How do I exit/sell my investment?
You can sell to other foreigners or Cambodians. Koh Pich is developing resale demand due to waterfront positioning and lifestyle appeal. See our exit strategy guide.
Exit Strategy Options
Investor Essentials (Foreign Buyers)
Explore Similar Projects
Important Disclaimers
- Prices: Indicative from ~$106k – varies by unit and availability.
- Yields: Gross estimates (5.5-7%). Net lower after management and costs.
- Status: Under construction, Q3 2026 target completion.
- GRR: Somerset floors 27-37 only. Confirm terms before purchase.
- Foreign ownership: Per 2010 law, subject to quota.
- Developer: Diamond Bay Garden Co. (OCIC affiliate).
- Due diligence: Independent advice recommended.
Last updated: 2026-01-14. All information developer-reported unless independently verified. Subject to change.
Ready to Invest in Diamond Bay Garden?
Waterfront development on Koh Pich with Somerset GRR option. Get current availability, payment plans, and GRR program details.
Development Details
| Developer | Diamond Bay Garden Co. |
| Property Type | Apartment |
| Location | Phnom Penh |
| Total Units | 1,500 |
| Price Range | $126,000 - $380,000 |
| Expected Completion | Q3 2026 |
| Current Status | Under Construction |
| Posted Date | November 23, 2025 |
| Development ID | #242 |