Hong Kong-based Shangri-La International Hotel Management Ltd is set to manage its first hotel in Phnom Penh.

Local development firm, Oxley Gem (Cambodia) Co this week granted Shangri-La a 60-day period to negotiate the management of the hotel to be located in the capital’s Chamkarmon district. Construction of the hotel is expected to commence in 2015 and be completed by 2019.

The hotel is expected to house about 300 rooms, a shopping centre and office spaces, according to a joint press statement issued on October 23.

Shangri-La president and CEO Greg Dogan said the new development is part of his firm’s regional expansion strategy.

“Given Shangri-La’s well-established presence in Southeast Asia, we are excited to add a property in Phnom Penh to our portfolio and further expand our offerings in the region,” Dogan was quoted saying in the press statement.