Cambodia’s Phillip Bank teams up with property development Sarita Waterside

Foreign investors can enjoy a buy back option when purchasing villas at Sarita Waterside.

Phillip Bank, a Singapore-owned commercial bank operating in Cambodia, and its associate company Phillip Trustee (Cambodia) has announced its strategic partnership with Sarita Waterside.

Under the partnership, Philip Bank will provide a buy-back guarantee to buyers of units at Sarita Waterside, a real estate development.

Phillip Trustee Cambodia will meanwhile assist foreign investors to establish a trust to own the properties with full compliance with Cambodian law. 

The partnership aims to attract more investments, particularly from Singapore investors, and build trust in the real estate market of Cambodia, the bank said in a press release.

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Sarita Waterside is the first project of the Kampot Park Eco Estate masterplan and is a joint venture between Sarita Resort and Kampot Mountain Park Development. The development offers 3 types of detached villas with private pools, floating pontoons and spacious gardens. 

Developer Sarita Waterside offers a Buy Back Option to investors where, upon physical completion of the villas (estimated at June 2024), investors can choose to keep the villas for rental investment, hold the property for their own use, or sell the property back to the developer. 

The developer offers the investors a Buy Back Price at 110% of the original sale price of the villas. To give further assurance to purchasers, this buy back option offered by Sarita Waterside will be supported by a letter of guarantee from Phillip Bank Cambodia.

Foreign buyers may purchase and own these properties under a trust structure.