Logo of Phnom Penh Post newspaper Phnom Penh Post - Exchange Square snaps up mega companies




Exchange Square snaps up mega companies

Content image - Phnom Penh Post
An artist’s impression of the upcoming Exchange Square, a Grade A office building set to come online by the end of this year. PHOTO SUPPLIED

Exchange Square snaps up mega companies

Ahead of Exchange Square’s official opening later this year, the mixed-use development – of namely office and retail purposes – in Phnom Penh has already bagged some big-name tenants, and is confident more will follow.

In February, Hongkong Land announced it had leased an undisclosed office unit space to CIMB Bank – a leading ASEAN bank internationally located in 18 countries, and one that has been in Cambodia’s banking industry since 2010. The new CIMB Bank’s headquarters will be at Hongkong Land’s Exchange Square building, which is scheduled for completion in late 2016.

Since then, another big-brand multinational has parroted the move; World Bank is also now a confirmed tenant, according to Angelique Tan, senior leasing executive for Hongkong Land.

High-profile companies entering the Kingdom’s still-unsaturated business and financial markets are on the search for quality office buildings. According to Tan, Hongkong Land has an esteemed reputation for building high-quality office space.

“Hongkong Land is highly regarded for its quality of construction, property management and client services in Asia, [thus] applying the same industry leading standards and skills to Exchange Square,” she said.

Tan added that the building has been gaining significant interest and awareness in the market since they started to pre-let office spaces.

According to Robert Garman, executive director of Hongkong Land, major organisations such as CIMB Bank are on the lookout to establish offices in Phnom Penh’s emerging financial district.

Situated at Sangkat Wat Phnom at Norodom, the capital’s current business district where many major banks such as Canadia Bank and Vattanac Capital are also located, Exchange Square has “naturally received high interest from the sectors of banks, financial institutions, and professional services,” Tan said.

While there is yet to be one definite central business district in Phnom Penh, CIMB’s move to a bigger and better building may prompt a slew of other multinational firms to follow suit. CEO of CIMB Cambodia, Bun Yin, said: “It is favourable from a corporate premise branding perspective to occupy space at Exchange Square due to the positioning of the building”.

MOST VIEWED

  • CDRI poll: Most happy but disappointments still exist

    A survey has found that over 70 per cent of Cambodian youths and adults approve of the direction the country is headed in, with the majority of respondents saying they had been doing better financially over the past five years. However, more than half said they

  • Drugs raid on Miami Night Club, 50 held

    Anti-drugs police raided a club in Chamkarmon district’s Boeung Keng Kang I commune in Phnom Penh early on Thursday, arresting some 50 people and confiscating drug-producing equipment and suspected illegal substances. Deputy National Police chief Mok Chito said on Thursday that police conducted the raid

  • Phnom Penh: The street food you adore, but given a refined twist

    There is no shortage of street food vendors scattered across Phnom Penh, but what is far rarer is finding a place that also has comfortable seating, good hygiene and parking. This is where Jing Ling and her five friends step in. With the concept of

  • Battambang court releases minor who shot boy

    The Battambang provincial court on Thursday released a 14-year-old boy who had been detained for accidentally firing a home-made gun and killing a nine-year-old boy in Samlot district on Tuesday, provincial court spokesman Tieng Sambor said. Sambor told The Post on Thursday that following the