CBRE Cambodia has been appointed as the sole leasing agent and property manager of a new A-grade office building under construction in Phnom Penh.

Developed by Maruhan Group, the parent company of Sathapana Bank, Sathapana Tower will add a total of 17,951 square metres of space across 19 storeys, plus four floors of basement car parking. 

It is only the third A-grade office building to be built in the city.

Sathapana Tower - At a glance:

• 17,951 square metres of office space across 19 storeys, plus four floors of basement car parking. 
• Only the third A-grade office building to be constructed in Phnom Penh.
• Sathapana Bank will occupy approximately 70 per cent of the building as their new headquarters, with the remaining space to be leased through CBRE Cambodia.
• The site is 1 kilometre north of Independence Monument, on the corner of Norodom Blvd., and Streets 172 and 174, at the heart of Phnom Penh’s Central Business District.

Speaking at the signing ceremony held earlier this week, Maruhan General Manager Yano Kentaro, said CBRE had a "deep understanding" of the Phnom Penh market and significant experience in delivering large scale, prestigious leasing and property management projects across the city.

"At Maruhan, we aim to position Sathapana Tower as the first choice for premier office space in Phnom Penh and with CBRE’s help we believe that we are well placed to achieve this," he said.

"Construction continues to progress well and our head-quarters office will be open from November”. 

Sathapana Tower is located 1km north of Independence Monument, on the corner of Norodom Blvd., and Streets 172 and 174, at the heart of Phnom Penh’s Central Business District and the prime financial district of the city.

Source: CBRE 

Sathapana Bank will occupy approximately 70 per cent of the building as their new headquarters, with the remaining space to be leased.

A total of 6,000 square metres of office space will be available to let via CBRE and is already receiving interest from international and local companies alike. 

The property has an attractive, modern design incorporating an efficient glass façade, which will add a fresh look to the prime corner plot on the city’s prominent Norodom Boulevard. 

James Hodge, Director at CBRE Cambodia, said projects such as Sathapana Tower were important for the future development of Phnom Penh’s office market, providing greater choice to those who are seeking premium space in the centre of the city. 

"Maruhan’s decision to invest in the quality of space being delivered at Sathapana Tower is a testament to the commitment they have to Cambodia, as well as their future vision, not only for Sathapana Bank but for the wider business community in Phnom Penh," he said.

"As competition for staff heats up, having a great office environment in a strong location is a key factor in businesses being able to attract and retain talent; Sathapana Tower is exceptionally well-positioned to deliver the high-quality space needed for the future”. 

Similar to this: 

Why south-east Asia could hold the key for investors in 2020

Grade B office space for lease in Phnom Penh

CBRE honored at Asia Pacific Property Awards 2019-2020