The mall is the retail component of The Peak, an upcoming high-end integrated development majority owned by Singapore-based developer Oxley, in partnership with Cambodian company Worldbridge Land.
CapitaLand, through its wholly owned shopping mall arm CapitaLand Retail, has signed an agreement to manage a mall in Phnom Penh, the capital of Cambodia.
The mall is the retail component of The Peak, an upcoming high-end integrated development majority owned by Singapore-based developer Oxley, in partnership with Cambodian company Worldbridge Land.
The company operates several shopping malls in Singapore, China, Malaysia, Japan, India and Vietnam.
Said Wilson Tan, CEO of CapitaLand Retail, “Cambodia has in recent years attracted the interest of international retailers – including Singapore-based brands – who are keen to tap the country’s rising spending power and growing tourist arrivals. This has led to an increase in demand for well-located and well-designed retail spaces in the country.
“We are well-placed to explore new growth opportunities by offering our professional expertise in retail management to property owners.”
Located in Chamkarmon District in central Phnom Penh, The Peak is a freehold 55-storey integrated development comprising an office tower, the country’s first Shangri-La Hotel with 300 guest rooms, and two luxury residential towers with 1,014 apartment units sitting atop a mall.
It is expected to commence operations in 2020.