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Jones Lang LaSalle wins property management contracts for Vattanac Capital in Phnom Penh

Cambodia’s most advanced commercial development project

Bangkok and Phnom Penh / 29 June 2011 - Vattanac Properties Ltd, a leading property development company in Cambodia, has appointed Jones Lang LaSalle as property management consultants for Vattanac Capital, a new landmark commercial development in Phnom Penh. Following the appointment, Jones Lang LaSalle is committed to providing property management consultancy, client representation and operations management services, assuring that Vattanac Capital will be managed to the international standards upon its completion in 2012.
Vattanac Capital is the largest mixed-use development project in the heart of Phnom Penh’s central business district with 130,000 sqm of gross floor area. The project comprises a 38-storey tower, a 6-storey “floating” tower and a retail podium, which will offer prime Grade A office space, world-class serviced apartments and luxury retail. Commencing in late 2008, the construction of Vattanac Capital is well under way and is scheduled for completion in the fourth quarter of 2012.
Mrs Suphin Mechuchep, Managing Director of Jones Lang LaSalle in Thailand, said “Vattanac Capital is our first property management appointment in Cambodia. It represents a good start in the country as it is the most exciting commercial development currently under construction in Phnom Penh. It also gives us an excellent opportunity to utilise our global expertise and extensive experience for the management of Cambodia’s first world-class commercial development.”
Mr. Sam Ang Vattanac, Executive Director of Vattanac Properties, said “Upon completion in 2012, Vattanac Capital will become an instant landmark in the central business district of Phnom Penh, marking the emergence of the vibrant and progressive Cambodian economy. The project features a spectacular architecture, shaped like an Asian mythical dragon, symbolizing progress, health and prosperity. It will also be the first LEED certified commercial building in Cambodia.”
Touted as Cambodia's most advanced commercial building, Vattanac Capital will feature modern building systems and facilities including state-of-the-art Building Management System (BMS), international-standard security and safety systems, fire alarm and safety systems, high voltage power generating system, emergency power generator and high-speed passenger and service lifts.
“As the construction of the project progresses, we want to ensure that the management of Vattanac Capital will be well planned prior to construction completion and meet international standards. We have appointed Jones Lang LaSalle as property management consultants for the project because of the firm's worldwide reputation for expertise in property management,” said Mr. Vattanac.
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About Vattanac Properties
Vattanac Properties Limited, the developer of Vattanac Capital Development, is a fully owned Cambodian Company. It forms part of a family-owned group of enterprises: Vattanac Bank, Vattanac Industrial Parks and Progress Import and Export (a joint venture partnership with Asia Pacific Breweries).