That holds the crown to unsurpassed leisure and entertainment
Soaring 55 storeys into the clouds at the city centre, The Peak, is the world’s next destination for live, work and play. The integrated iconic landmark is lined with the luxurious Shangri-La Hotel, world-class retail, restaurants, residences and offices. Supremely located in a vibrant city surrounded by many of the country’s tourist’s attractions like the historic resonance, Naga World, The Independence Monument and many more, you can take your business further with the opportunity to tap into the ready pool of shoppers from tourists, working executives, residents and the heavy footfall at the bustling city. To put your business at the heart of it all, your business is simply poised for success.
CapitaLand to manage Phnom Penh mall in Oxley's The Peak development
An 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
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.
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.