CapitaLand Retail has signed an agreement to manage a new Cambodian mall in Phnom Penh.
The deal represents a new market for the Singapore-headquartered property giant, after China, Malaysia, Japan, India and Vietnam. The Cambodian mall is the retail component of The Peak, a high-end integrated development majority owned by Singapore-based developer Oxley, in partnership with Cambodian company Worldbridge Land.
Located in the Chamkarmon district in central Phnom Penh, The Peak is a freehold 55-storey complex comprising an office tower, the nation’s first Shangri-La Hotel with 300 guest rooms, and two luxury residential towers with 1014 apartment units above the mall.
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 420,000sqft and a net lettable area of about 260,000sqft. The mall is expected to open in 2020.
Located on an esplanade, The Peak overlooks the Mekong River and Phnom Penh’s cityscape. It is surrounded by high-end residential developments and key commercial and government buildings.
