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Logo of Phnom Penh Post newspaper Phnom Penh Post - With EXCHANGE SQUARE, Hongkong Land raises the bar for quality mixed-use developments

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With EXCHANGE SQUARE, Hongkong Land raises the bar for quality mixed-use developments

having steadily built up its presence in Southeast Asia over the course of more than 20 years, Hongkong Land has arrived in the Kingdom of Cambodia with a market-leading Grade A office building and lifestyle retail mall, EXCHANGE SQUARE, which is on track to complete by the end of this year.

In building up an impressive portfolio that dates back more than a century, Hongkong Land has focused on maintaining excellent relationships with tenants, partners and investors, who today include some of the world’s leading global brand names in finance and luxury retailing. The Group has developed a unique set of values in its vision, design, construction and partnership, which centres on continuous innovation and continually raising standards. Far from constructing generic developments, Hongkong Land adds creative flair to the architecture, engineering and construction, design, and usability of all its properties.

Hongkong Land is now bringing this wealth of experience to Phnom Penh through its EXCHANGE SQUARE development, which is setting new standards for the local real estate industry.

Offering a total of 39,700 square metres of office and commercial space across 20 floors in its initial phase, EXCHANGE SQUARE is designed to cater for the needs of major multinational and domestic companies. Its lifestyle retail concept creates an excellent platform for global brands and leading restaurateurs wishing to gain a solid foothold in the country.

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Mr Y K Pang, Chief Executive of Hongkong Land, said, “This is a world-class building with an impressive and growing list of tenants. Cambodia is a country with exciting prospects and EXCHANGE SQUARE is realising the Company’s vision to becoming a catalyst for business and retail activities in its capital.”

Prominent companies that have already snapped up EXCHANGE SQUARE’s office space include leading regional financial institutions CIMB Bank, The World Bank and the International Finance Corporation, and Japanese trading house Mitsui & Co., while Starbucks, Yves Rocher, and a gourmet supermarket managed by a joint venture partner in Phnom Penh are among some of the building’s key retail tenants.

Mr Por Lim, General Manager of Starbucks Cambodia, remarked, “We are excited to bring the Starbucks experience to even more customers in Phnom Penh when we open our doors at EXCHANGE SQUARE.”

The building’s topping out ceremony, held on June 28, was attended by government and embassy officials, along with partners and business leaders, in a show of support for the development. Mr Pieter Claudel, Director of Yves Rocher, added, “Given EXCHANGE SQUARE’s central location and its attractive tenant mix as well as the quality construction and parking provisions, we are confident that the development will provide visitors with a great and an all-encompassing lifestyle experience.”

As Mr Robert Garman, Executive Director of Hongkong Land noted, “Across Southeast Asia, we have for many years been building world-class office and retail space. We are now transferring this expertise to EXCHANGE SQUARE in Cambodia, which will transform this part of Phnom Penh by attracting new businesses, retailers and customers.”

EXCHANGE SQUARE’s topping out

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Before the topping out ceremony, Buddhist monks gave EXCHANGE SQUARE their blessings.

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In the topping out ceremony, a few last golden shovels of cement completed the building structure.

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VIPs enjoyed a traditional Apsara dance performance and a festive lunch at Raffles Hotel Le Royal.

On Tuesday, June 28, Hongkong Land celebrated the festive topping out ceremony of EXCHANGE SQUARE with more than 100 leading members of the government, business community and other key partners.

The event was a milestone of the development, which is scheduled to complete by the end of 2016. Guests of honour included HE Mr Phuoeng Sophean, Secretary of State at Ministry of Land Management, Urban Planning and Construction as well as the senior management of Hongkong Land and POSCO.

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Mr Y K Pang, Chief Executive of Hongkong Land.
About Hongkong Land
 
Hongkong Land is a listed leading property investment, management and development group. The Group owns and manages almost 800,000 sq. m. of prime office and luxury retail property in key Asian cities, principally in Hong Kong and Singapore.

Its Hong Kong Central portfolio represents some 450,000 sq. m. of prime property. It has a further165,000 sq. m. of prestigious office space in Singapore mainly held through joint ventures, and a 50 per cent interest in a leading office complex in Central Jakarta.

The Group also has a number of high quality residential and mixed-use projects under development in cities across Greater China and Southeast Asia, including a luxury retail centre at Wangfujing in Beijing. In Singapore, its subsidiary, MCL Land, is a well-established residential developer.

Hongkong Land Holdings Limited is incorporated in Bermuda and has a standard listing on the London Stock Exchange as its primary listing, with secondary listings in Bermuda and Singapore. The Group’s assets and investments are managed from Hong Kong by Hongkong Land Limited. Hongkong Land is a member of the Jardine Matheson Group.

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HE Mr Phuoeng Sophean highlighted the strength of Cambodia’s construction industry.
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