Hongkong Land’s debut development in Cambodia attracts leading tenants to the city’s burgeoning financial district.
PHNOM PENH, 16th August 2017 – Leading Asian property developer Hongkong Land announced that EXCHANGE SQUARE – the Company’s latest development in Cambodia, and Phnom Penh’s newest Grade A commercial, retail and lifestyle property – has attracted high-profile anchor tenants including Hard Rock Café, Legend Premium Cinema, Lucky Premium Supermarket and contemporary design food court Nham Central just two months after soft-opening in June.
Designed, constructed and managed to world-class standards by Hongkong Land, EXCHANGE SQUARE caters to the shopping and leisure needs of Cambodia’s growing middle class and affluent. The building offers 39,700 sq. m. of Grade A office space across 16 floors and a four level retail podium. It is located in the centre of Phnom Penh’s emerging financial district, on the corner of popular St. 61, providing shoppers and commuters with convenient access to Phnom Penh’s administrative, business, leisure and tourist destinations.
EXCHANGE SQUARE’s commercial and retail occupancy rate is already at 70% and is expected to reach 80% by the end of 2017. The compelling retail mix features a host of soughtafter brands – some of which are entering the local market for the first time – including BERING, Combi, Crocs, Escentric Garden, Flight Booking Centre, Guardian Pharmacy, Havaianas, Levi’s, MDS, Owndays, Pandora, Power Play by KFour, SMART.
Sneakers, The Warehouse, Time City and Yves Rocher. Well known F&B outlets include Amazon Café, Asian Kitchen, Bonchon, Cold Stone Creamery, Lucky Burger, San Francisco Caffe, Starbucks and Sushi Tei. Office tenants include AIA, CIMB Bank, Marubeni Corp., Mitsui & Co, Tings & Associates, the United Nations Children’s Fund.
(UNICEF) and the World Bank. Huawei Technologies, ICBC, Jardine Schindler, Michelin and leading local companies such as HGB group are expected to move in later this year.
Designed with sustainability top-of-mind, EXCHANGE SQUARE has achieved Green Mark Gold Building status, as certified by the Building and Construction Authority of the Singapore Government. This rating recognises the property’s design and construction elements that reduce energy and water consumption, and enhance the quality of the indoor and outdoor environment. Sustainable features include passive design to minimise sun exposure and lessen cooling needs; a smaller and more efficient ductless ventilation system; and a sophisticated lift system to ensure maximum energy efficiency.
Mr Robert Garman, Executive Director of Hongkong Land, said, “EXCHANGE SQUARE is the latest prestigious development by Hongkong Land in an emerging Asian business hub, and we believe it will contribute greatly to Phnom Penh’s rising profile in the region. The interest and commitment we have seen from tenants is indeed a sign that EXCHANGE SQUARE is rapidly becoming a
Dawn Shu, Country Manager of Hongkong Land.
new centre for commercial and retail activities in the capital, and we look forward to growing together with this exciting city well into the future.”
Hongkong Land is highly regarded for the quality of its construction, property management and client services throughout the region, and it is expected that EXCHANGE SQUARE will set a new benchmark for commercial developments in Phnom Penh and Cambodia. The Company’s portfolio also includes Grade A office, retail and mixed-use properties in Hong Kong, China, Singapore, Indonesia, Thailand and Vietnam. Hongkong Land is a listed leading property investment, management and
development group. Founded in 1889, Hongkong Land’s business is built on excellence, integrity and partnership.
The Group owns and manages almost 800,000 sq. m. of prime office and luxury retail property in key Asian cities, principally in Hong Kong and Singapore. Hongkong Land’s properties attract the world’s foremost companies and luxury brands. Its Hong Kong Central portfolio represents some 450,000 sq. m. of prime property. It has a further 165,000 sq. m. of prestigious office space in Singapore mainly held through joint ventures, and a 50% interest in a leading office complex in Central Jakarta. The Group also has a number of high quality
residential and mixed-use projects under development in cities across Greater China and Southeast Asia, including a luxury retail centre at Wangfujing in Beijing. In Singapore, its subsidiary, MCL Land, is a well established residential developer.
Hongkong Land Holdings Limited is incorporated in Bermuda and has a standard listing on the London Stock Exchange as its primary listing, with secondary listings in Bermuda and Singapore. The Group’s assets and investments are managed from Hong Kong by Hongkong Land Limited. Hongkong Land is a member of the Jardine Matheson Group.