Logo of Phnom Penh Post newspaper Phnom Penh Post - FTB’s $112M new HQ breaks ground in Phnom Penh

FTB’s $112M new HQ breaks ground in Phnom Penh

Content image - Phnom Penh Post
The construction of FTB 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. SUPPLIED

FTB’s $112M new HQ breaks ground in Phnom Penh

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.

MOST VIEWED

  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Pursat Ford assembly plant opens

    The Kingdom’s first Ford assembly plant was inaugurated on June 16 in Pursat province amid rising demand for brand-new vehicles among Cambodians. The facility is seen as a game changer for the domestic automobile industry, which could bring a wave of investors seeking to cash

  • Siem Reap’s $18M zoo said to educate public, help wildlife

    Angkor Wildlife and Aquarium Co Ltd has invested $18 million in a zoo in Siem Reap province, which will be opened in October to educate and promote animal conservation as well as attract national and international tourists. Currently, the Angkor Wildlife and Aquarium is building the

  • Angkor photo rules clarified

    The Apsara National Authority (ANA) denied that it had banned the use of camera tripods in the Angkor Archaeological Park, explaining that the confusion stemmed from a long-standing rule which required commercial photographers and videographers to apply for permission to film. The explanation followed a

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • $50B infrastructure plan en route

    The government’s upcoming $50 billion,10-year infrastructure master plan will provide tremendous investment opportunities for domestic and foreign entities, transport experts and economists say. Minister of Public Works and Transport Sun Chanthol revealed the plan to Japanese ambassador to Cambodia Masahiro Mikami on June 15. At