Cbre Cambodia Appointed Marketing Agen for Exchange Square

• 31 December 2015
• Property Focus
• 1956 Views

A signing ceremony was held on 4 September 2015 to mark the appointment of CBRE as Hongkong Land’s Sole Coordinating Agent for Marketing Services in respect of leasing commercial office and retail space at Exchange Square in Phnom Penh, Cambodia.

Located in the centre of Phnom Penh’s financial district and less than 10km from the airport, Exchange Square is close to key government ministries and major foreign embassies. It is surrounded by parks, as well as major boulevards that provide easy access to the city’s main districts and popular attractions. This strategic location offers the height of convenience in an elegant, historic setting.

The initial phase of Exchange Square will comprise a Grade A office tower with 17,000 sq.m. of office space over 16 levels, and 13,000 sq.m. of retail space in a four-level podium. The project will also include some 650 car and motorcycle parking spaces. Upon completion, Exchange Square is expected to become a landmark for Phnom Penh and a catalyst for increasing business and retail activities in the area.

Office floor plates will provide fully flexible and efficient accommodation up to 1,154 sq.m. (12,421 sq.ft.) per floor, with a maximum sub-divisions from 98 sq.m. (1,050 sq.ft.). Hongkong Land will provide the highest level of safety, and security standards throughout the development, in addition to greenery integration that will include green rooftops, an on-site park, and contributions to open public spaces.

Exchange Square in Cambodia continues Hongkong Land’s long-established strategy of growing the Company’s commercial portfolio in business hubs across Asia. Its existing developments in the region, such as Marina Bay Financial Centre in Singapore and World Trade Centre in Jakarta, are market leaders in tenant satisfaction due to the Group’s consistently high quality standards in both construction and ongoing property management.

Marc Townsend, Managing Director of CBRE Cambodia, said, “Hongkong Land’s commitment to quality construction standards and property management services shall set a new benchmark in Phnom Penh. CBRE is excited to mark the start of the two firms’ collaboration on this project.”

Hongkong Land’s Country Manager, David Tibbott, remarked, “This iconic development symbolises Cambodia’s growing economy. Exchange Square has been designed to meet the needs of both Cambodia’s own leading companies as well as international occupiers.”

At the press conference, Mr Tibbott also told Construction & Property Magazine that, subject to ongoing negotiations with potential tenants, approximately 70 percent of units were already committed, with the majority of interest to date coming from international investors.

Hongkong Land began construction of the development on 6 September 2013. Completion of the first phase is expected in 2017, with and a grand opening to be held soon thereafter.