SINGAPORE, Jan. 13, 2025 -- KONE Corporation, a global leader in the elevator and escalator industry, has won an order to provide a suite of People Flow® solutions for the Peninsula Integrated Resort by Chinese foreign investment firm, Peninsula Bay Investment Co., Ltd. Constructed in Sihanoukville – a popular tourist destination in Cambodia's Preah Sihanouk province – the development contributes to broader efforts to strengthen the country's image as an economic hub.
Once completed in 2026, the mega mixed-use development will be a prominent feature of Cambodia's most popular beach resort, helping to attract both foreign tourists and businesses. Located in a prime location, the complex will offer retail, dining, cultural and entertainment facilities and house a five-star hotel with approximately 2,870 rooms, including offices and serviced apartments.
Edward Loy, KONE Managing Director for Southeast Asia, says: "The demand for smarter and more sustainable vertical transportation is rising and KONE is proud to be delivering in the Southeast Asia region for over 45 years. Through our people flow partnership with Peninsula Bay Investment, the upcoming lifestyle and commercial hub in Sihanoukville will enable KONE to expand our regional footprint, meeting rapidly evolving user demographics and increase in urbanization."
The order comprises 108 elevator units, including 38 KONE N MonoSpace®, two KONE S MonoSpace®, 57 KONE N MiniSpace™ passenger elevators, 10 KONE MiniSpace™ high-speed passenger elevators, and one KONE TranSys™ DX heavy-duty elevator, as well as 20 KONE TravelMaster™ 110 commercial escalators and KONE E-Link™ monitoring. KONE will handle the manufacturing, while installation and maintenance will be managed by one of its two exclusive local distributors, Octech Electric Company Limited.
The project is due to start in Q1 2025. The developer is Peninsula Bay Investment, and the main contractor is China State Construction Engineering Corporation. The architectural design was done by ADC.
KONE booked the order in Q4 2024.
About KONE
At KONE, our purpose is to shape the future of cities. As a global leader in the elevator and escalator industry, we move two billion people every day, making their journeys safe, convenient, and reliable with smart and sustainable People Flow®. In 2023, KONE had annual sales of EUR 11.0 billion, and at the end of the year over 60,000 employees in more than 60 countries. KONE class B shares are listed on the Nasdaq Helsinki Ltd (HEL: KNEBV).
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