The Kingdom’s first local commercial bank, Foreign Trade Bank of Cambodia (FTB) – in collaboration with MSNH Investment Co Ltd – is embarking on a $112 million headquarters near the Peace Palace in the capital's Prampi Makara district.
The groundbreaking ceremony for the 28-storey FTB Tower was officiated by Deputy Prime Minister Chea Sophara, who is also Minister of Land Management, Urban Planning and Construction.
According to the FTB press statement, the tower will be its new headquarters, a prime hub of innovation and creativity in the expansion of banking products and services.
“Constructing and owning the rights to FTB Tower indicates our strength and longevity as the first local commercial bank in Cambodia.
“FTB has served customers and the market for over 40 years, and still continues to strive for the benefit and satisfaction of our customers in this rapidly growing banking industry,” it said.
The "Grade A" office building, which will cover a total gross floor area of 77,593sqm, is designed by world-renowned architect, London-based Aedas, and built by China Construction Midland (Cambodia) Co Ltd (CCM).
CCM is a subsidiary of China State Construction Engineering Corp, which was ranked 13th in the Fortune Global 500 list in 2021.
The architectural concept of the headquarters is anchored in the idea of a modern tower where its shape epitomises the FTB logo "Prohm" as a symbol of "strength and aspiration".
“FTB Tower is setting a benchmark for sustainable, modern and iconic office towers where Cambodian culture meets contemporary architecture,” it said.
According to the press statement, FTB – truly a local bank established in 1979 – has played a crucial role in helping develop the economy and local market through relentless provisions of banking products and services to customers.
Its total assets have risen to $1.71 billion, with a total loan portfolio at $1.15 billion and total deposits at over $1.4 billion.
“FTB is committed to helping local customers achieve further growth and prosperity, and forge ahead with the vision of becoming a preferred commercial bank in Cambodia,” the statement read.
The construction of the tower, located on Lot A along Russian Boulevard in Monorom commune, will take three years to complete. It will have a helipad for helicopter landing at the top and four floors for parking in the basement.
The tower will use state-of-the-art materials as well as the latest technologies in building automation, fire safety, and energy conservation and environmental protection in compliance with regional building standards.
Apart from the space it will occupy for banking operations, FTB will lease out the remaining office space.