Phnom Penh office demand growing...according to PP real estate agents.

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Phnom Penh office demand growing...according to PP real estate agents.

Postby CEOCambodiaNews » Sun Dec 11, 2016 12:39 pm

Article in the Bangkok Post, taken from the Khmer Times, indepth journalism at its best: when asked, Phnom Penh office real estate agents say there is an increasing demand for their product.
Phnom Penh office demand rising
Published: 10 Dec 2016
The demand for office space in Phnom Penh is growing, with heavy interest expected in Exchange Square, a new mixed-use tower scheduled to open in the centre of the Cambodian capital early next year.

Ann Sothida, associate director of CBRE Cambodia, said she was confident that the project would be fully booked as it was connected to the main highway leading to the Phnom Penh International Airport. CBRE is the leasing agent for Exchange Square, developed by Hong Kong Land.

“It is in an ideal location for tenants and we’re confident that Exchange Square will be a success,” she told the Khmer Times.

The 20-storey Exchange Square is located on Street 106, near Wat Phnom and a stone’s throw from the US embassy. The first four floors will be occupied by high-end retail space and the remaining floors will offer 18,000 square metres of grade A office space.

“About 60% of the shopping mall is already taken up by tenants and we’re confident that the office space will also be filled up," said Ms Sothida. "More international businesses are moving into Cambodia and this country seems to be an attractive place for foreign businessmen and investors.”

Other real estate agents are also optimistic about demand for quality office space in Phnom Penh.

“While demand for commercial buildings has slowed down this year, demand for office space grew by about 10% compared with last year,” said Pen Phearun, the general manager of the Canadia building...
http://property.bangkokpost.com/news/11 ... nd-growing
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Re: Phnom Penh office demand growing...according to PP real estate agents.

Postby Username Taken » Sun Dec 11, 2016 1:21 pm

Sounds more like an advertisement for Exchange Square.
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Re: Phnom Penh office demand growing...according to PP real estate agents.

Postby Bitte_Kein_Lexus » Sun Dec 11, 2016 10:00 pm

Indeed. Meanwhile, what is Vattanac's occupancy rate at these days?
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Re: Phnom Penh office demand growing...according to PP real estate agents.

Postby Duncan » Mon Dec 12, 2016 8:28 am

Bitte_Kein_Lexus wrote:Indeed. Meanwhile, what is Vattanac's occupancy rate at these days?

Dunno, but somecunt there is always complaining about how dirty the windows are.


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Re: Phnom Penh office demand growing...according to PP real estate agents.

Postby rogerrabbit » Wed Dec 28, 2016 8:54 pm

Bitte_Kein_Lexus wrote:Indeed. Meanwhile, what is Vattanac's occupancy rate at these days?
In September when I went to see their office spaces it was hardly 50%
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Re: Phnom Penh office demand growing...according to PP real estate agents.

Postby CEOCambodiaNews » Sat Dec 31, 2016 8:03 pm

Bitte_Kein_Lexus wrote:Indeed. Meanwhile, what is Vattanac's occupancy rate at these days?
The country’s tallest building—the 39-story Vattanac Capital building [may offer a glimpse into the twin towers’ fate...] Completed in 2014, the tower only reached an oc­cupancy rate of about 30 percent by the middle of last year, the company’s senior leasing manager told The Guard­ian newspaper in July.
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