Logo of Phnom Penh Post newspaper Phnom Penh Post - Canadia finally set to relocate to new tower

Canadia finally set to relocate to new tower

Canadia finally set to relocate to new tower

091027_07
Construction workers continue interior work earlier this month on Canadia Tower in Phnom Penh.

After repeated delays, Canadia Bank’s vice president says the lender will move into the Kingdom’s tallest building next week

CANADIA Bank will begin offering banking services from its new tower – the tallest in the country at 29 storeys – on November 5 after the Water Festival, a vice president of the bank said Monday.

Dieter Billmeier said the bank would use the annual holiday period to move its head office into Cambodia’s first skyscraper, which has yet to be officially opened.

“The whole head office will be moved, and we will be ready for full-scale operations after the Water Festival,” he said.

The bank’s retail operations will be housed on the ground and first floors, taking up half of the available space there, while head office staff will be housed over five storeys between levels six and 10.

Billmeier said the bank employed more than 300 staff at head office, out of around 850 people employed countrywide.

The bank had also invested a “huge sum” in upgrading its information technology systems, installing a T24 core banking system from Geneva-based provider Temenos. Only one other bank in Cambodia – ACLEDA – uses the system, Billmeier said, describing it as the most advanced banking system available. “This system is now fully operational,” he said.

The bank originally intended to open its new tower on September 9, but Chief Executive Officer Charles Vann told the Post during a site visit this month that the delay was due to unexpected complications in installing electrical and telecommunications wiring.

Billmeier said Monday an official launch date had not been decided, adding negotiations were still continuing over the composition of the rest of the floors. “It’s not 100 percent clear yet, but it will be a mixture of offices, restaurants, retail space and serviced apartments,” he said.

Vann said earlier this month that negotiations with prospective tenants were ongoing and said the company was staying firm on its well-publicised asking rate of between US$30 and $35 per square metre, “plus or minus”, for office space.

MOST VIEWED

  • Would you like fries with that? US burger chain makes Phnom Penh debut

    California-based The Habit Burger Grill restaurant chain is all set to serve up a delicious array of charbroiled burgers and sides at its newest international location in the centre of Phnom Penh. The Habit is “renowned for its award-winning Charburgers grilled over an open flame,

  • Phnom Penh underpass opens to ease traffic

    Prime Minister Hun Sen has announced a temporary opening of the 488m underpass at the Chaom Chao roundabout in Phnom Penh’s Por Sen Chey district, which was recently completed to connect traffic from National Road 4 to Russian Federation Blvd. The move is to reduce

  • Banteay Meanchey flood victims receive aid

    Prime Minister Hun Sen on Wednesday provided aid to more than 10,000 families affected by flooding in Banteay Meanchey province’s Mongkol Borei district and offered his condolences to the 18 victims who drowned in the province over the past week. He said flooding had occured in

  • PM urges caution as Polish man tests positive for Covid

    The Ministry of Health on Wednesday reported that a 47-year-old Polish man tested positive for Covid-19 after arriving in Cambodia on Monday. There are a total of six Covid-19 patients currently in the country, all of whom are being treated at the Khmer-Soviet Friendship Hospital

  • Show evidence of Chinese military base, critics told

    Prime Minister Hun Sen on Monday said he had had enough of certain countries and opposition groups claiming Cambodia had allowed China to base its military in Cambodia and dared critics to show clear evidence. Hun Sen made the remarks while presiding over a groudbreaking

  • Serving coffee with a side of robots

    The eye-catching glass building surrounded by greenery at the intersection of Streets 371 and 2002 in Phnom Penh’s Sen Sok district is more than just another coffee shop where you can while away a few hours. UrHobby House cafe is filled with robots and characters from