Hongkong Land Landmark Building Launches New Name

• 31 December 2015
• Property Focus
• 3129 Views

After breaking ground in September 2013, Hongkong Land’s landmark tower was appointed the official name EXCHANGE SQUARE in February 2015.

The EXCHANGE SQUARE is located in the centre of Phnom Penh’s emerging financial district, where parks, major boulevards, government ministries, and the original French colonial administrative centre are in close proximity which allows tenants to conveniently access to the city’s main districts and most popular attractions, according to a press release from Hongkong Land on 17 February.

Having completed excavation in October 2014, the project has progressed to finalizing the foundation works, which is being overseen by Korean headquartered POSCO E&C. Currently laying basement concrete floor slab, the next phase of superstructure construction is expected take place in Q2 2015. The $100 million mixed-use development is expected to complete in Q4 2016 with a Grand Opening soon after.

The initial phase of EXCHANGE SQUARE will include a Grade-A office tower with 17,000 sqm of office space over 16 levels, and 13,000 sqm of retail space over a four-level podium. The project will include some 650 car and motorcycle parking spaces.

Upon completion, EXCHANGE SQUARE will be a new landmark for the city and a catalyst for increasing business and retail activities in the area. Hongkong Land, which is highly regarded for its quality of construction, property management and client service in the region, will apply the same industry-leading standards and skills to EXCHANGE SQUARE.

“We are proud to be developing EXCHANGE SQUARE, a Grade-A commercial project in this rapidly emerging city. We aim to replicate the same level of service and quality in Phnom Penh as we provide elsewhere, including Marina Bay Financial Centre in Singapore and World Trade Centre in Jakarta,” said Mr. Robert Garman, Executive Director at Hongkong Land.

A member of the Jardine Matheson Group, Hongkong Land is one of Asia’s leading property investment, management and development groups and was founded in 1889. The group owns and manages almost 800,000 sqm of prime office and luxury retail property in key Asian cities, principally in Hong Kong and Singapore.

In Cambodia, besides Central Mansions serviced apartment with 101 rooms and five penthouses and the EXCHANGE SQUARE development, the group has a 1,600 sqm plot of land on the Phnom Penh riverside, between Wat Ounalom and Tonle Sap River that will be home to its future property development.