CapitaLand just signed scottn agreement to manage Oxley mall in Phnom Penh, Cambodia. The mall is a retail component of The Peak. A new high-end integrated development majority also owned by Oxley in partnership with Worldbridge Land.
The Peak is located in Chamkarmon District in Phnom Penh. It will be a freehold 55-storey integrated development comprising an office tower, Cambodia’s first Shangri-La Hotel with 300 guest rooms, and two luxury residential towers with 1,014 apartment units.
CapitaLand will manage the asset planning, pre-opening, and retail management. The mall is expected to open in 2020.
Oxley is confident with CapitaLand’s reputation in retail management. Mr Ching Chiat Kwong, Executive Chairman and CEO of Oxley Holdings Limited, said, CapitaLand has a strong reputation for retail management and is well-known for its extensive retailer network. 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.”
The Peak is CapitaLand’s Eighth Retail Management in Asia
The Peak will have an amazing view and natural landscape being situated along the historic Mekong River and Phnom Penh’s bustling cityscape. It is also surrounded by several high-end residential developments and commercial buildings covering Chamkarmon and Diamond Island.
Mr Wilson Tan, CEO of CapitaLand Retail, 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.”
There are other developments in Phnom Penh that CapitaLand manages such as the three serviced residences through its wholly-owned serviced residence business unit The Ascott Limited. The CASA Meridian Residence, and other two upcoming projects Somerset Norodom Phnom Penh and Somerset Meridian Square Phnom Penh to open next year.
CapitaLand now has eight retail mall management including The Peak, six malls in China, and one in Singapore. Visit CapitaLand and learn more about their growing retail management business by visiting their official website.