Capitaland to Manage Mall in the Peak

• 21 March 2018
• Property Focus
• 3864 Views

CapitaLand , one of Asia’s largest real estate companies based in Singapore, has recently signed an agreement with local Cambodian company Worldbridge Land to manage its mall which will open in 2020.

The five-storey mall will have a Gross Floor Area (GFA) excluding car park of about 40,000 square metres and a Net Lettable Area (NLA) of about 24,000 square metres. The mall is positioned as an integral component of The Peak Project, a high-end 55-storey integrated development in Chamkarmon District, central Phnom Penh owned by Singapore-based developer Oxley, in partnership with Cambodian company Worldbridge Land.

The project is currently under construction and expected to be ready for operation by 2020.

Capitaland’s already has expertise in operating shopping malls in Singapore, China, Malaysia, Japan, India and Vietnam and it’s management of The Peak mall extends its retail portfolio to the Cambodian market. CapitaLand will supervise multiple tasks of the mall including asset planning, pre-opening and retail management.

“With CapitaLand’s proven track record in running successful malls across Asia, we are well-placed to explore new growth opportunities by offering our professional expertise in retail management to property owners,” said Mr Wilson Tan, CEO of CapitaLand Retail, “CapitaLand will leverage our expertise in retail asset management and industry-leading retailer network of about 17,000 leases to maximise the retail potential of The Peak.”

In Phnom Penh, CapitaLand also manages three serviced residences including CASA Meridian Residence, Somerset Norodom Phnom Penh, and Somerset Meridian Square Phnom Penh opening this and next year respectively.

https://youtu.be/mT_d2zjmDI0

• Business and Market
• Projects Development