CapitaLand to manage Phnom Penh mall in Oxley's The Peak development

SINGAPORE - CapitaLand, through its wholly owned shopping mall business CapitaLand Retail, has signed an agreement to manage a mall in Cambodia's capital, Phnom Penh. The mall is the retail component of The Peak, an upcoming high-end integrated development majority owned by Singapore-based developer Oxley and Cambodian company Worldbridge Land.

imageAn artist's impression of The Peak, a 55-storey integrated development which houses an office tower, the country's first Shangri-La Hotel, two luxury residential towers and the mall, which will open in 2020.PHOTO: OXLEY HOLDINGS

The Peak, located the Chamkarmon district in central Phnom Penh, is a 55-storey freehold integrated development which houses an office tower, the country's first Shangri-La Hotel, two luxury residential towers with 1,014 apartment units and the mall, which will open in 2020.

CapitaLand will oversee asset planning, pre-opening and retail management for the five-storey mall, which has a gross floor area, excluding car park, of about 420,000 square feet, and net lettable area of about 260,000 sq ft, CapitaLand said in a filing with the Singapore Exchange on Tuesday (March 20).

Said Wilson Tan, CapitaLand Retail chief executive officer (CEO): "Given The Peak's strategic location in central Phnom Penh and high-grade building specifications, it is well-positioned to meet the requirements of quality retailers seeking to serve the growing aspirations of the city's community."

Ching Chiat Kwong, Oxley Holdings executive chairman and CEO said: "With CapitaLand as our retail manager, we are confident of optimising returns for The Peak by focusing on our core business of developing and marketing the project. Given Oxley's diversified global portfolio in countries including Singapore, the United Kingdom, Ireland, China, Indonesia and Myanmar, we look forward to the possibility of deeper collaboration with CapitaLand in the future."

CapitaLand shares closed S$0.01 or 0.3 per cent up at S$3.67 on Monday, while Oxley shares ended S$0.015 or 2.8 per cent down at S$0.515.

Adapted from TheStraitsTimes, Mar 20, 2018


The Peak Retail Mall in Cambodia – Managed by CapitaLand

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The Peak Retail Mall in Cambodia’s Capital City Phnom Penh


Invest in the World No. 2 Economies Real GDP Growth Country

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Many International Brands have entered in Phnom Penh!

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  • Own a Freehold Retail Shop In the Ngee Ann City / Orchard Road Equivalent
  • At the Heart of Phnom Penh’s Commercial, Shopping & Tourism Belt!
  • Limited Supply of Shopping Malls & Growing Demand / Tourism
  • Safety: Mainboard-listed Singapore Developer Oxley
  • 1st Mover Advantage into an Emerging Economy with High GDP Growth of 7%!
  • Super Prime Location Hotels, Casino, Embassies, surrounded by Popular
  • Eateries, Tourist Hotspot, CBD
  • ASEAN Free Trade Agreement from end 2015
  • Strong Potential Capital Growth Gains

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Phnom Penh Retail Market Opportunities

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Tourism growth to Cambodia averaged 20% growth per annum between 2004 to 2014 Current Cambodia Phnom Penh shop rentals average at US$62.9 per sqm (approx. S$8.18psf) Phnom Penh Shop rents at older malls have increased 10% per annum over the last 5 years, e.g. Sorya Mall Phnom Pennh Shop rents at newer malls have increased 25% to 50% per annum between 2014 to 2015 e.g. TK Avenue and Vattanac Capital Minimum capital Gains growth of at least 5% to 10% per annum for the next 5 years! (Source:CBRE Cambodia)


The Peak Retail Mall located at Phnom Penh’s Future shopping belt

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Sharing Same Address as upcoming Shangri-La Hotel Cambodia and The Peak Residential

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Approx 5-min walk to existing NagaWorld casino-hotel (like our MBS) and upcoming NagaWorld 2 Link by Naga Walk with Retail Spaces Below!

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Approx 5-min walk to AEON, Phnom Penh’s largest mall with supermarket, cinema, bowling alley, ice skating rink & many international brands and F&B (not for sale)

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The Peak Commercial Managed by CapitaLand

DEVELOPER CapitaLand, through its wholly owned shopping mall business CapitaLand Retail, has signed an agreement to manage a mall in Cambodia’s capital, Phnom Penh. The mall is the retail component of The Peak, an upcoming high-end integrated development majority owned by Singapore-based developer Oxley and Cambodian company Worldbridge Land.

CapitaLand will oversee asset planning, pre-opening and retail management for the five-storey mall, which has a gross floor area, excluding car park, of about 420,000 square feet, and net lettable area of about 260,000 sq ft, CapitaLand said in a filing with the Singapore Exchange on Tuesday.

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Wilson Tan, CapitaLand Retail chief executive officer (CEO) said: “Given The Peak’s strategic location in central Phnom Penh and high-grade building specifications, it is well-positioned to meet the requirements of quality retailers seeking to serve the growing aspirations of the city’s community.”

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Mr Ching Chiat Kwong of Oxley Holdings executive chairman and CEO said: “With CapitaLand as our retail manager, we are confident of optimising returns for The Peak by focusing on our core business of developing and marketing the project. Given Oxley’s diversified global portfolio in countries including Singapore, the United Kingdom, Ireland, China, Indonesia and Myanmar, we look forward to the possibility of deeper collaboration with CapitaLand in the future.”


The Peak Current Construction Progress

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Adapted from PropertyFactsheet