Global insurance and financial Services giant Prudential has come on board to be the anchor tenant of Phnom Penh’s newest skyscraper development.
Prudential, a leader in the financial services industry, looks to call Phnom Penh’s new skyscrapers home. The Global Tech Exchange is a mixed-use development project in the city’s new integrated township development Phnom Penh City Centre, viewed as the pearl of the city and a key player in the city’s modernisation efforts.
Global insurance and financial Services giant Prudential has come on board to be the anchor tenant of Phnom Penh’s newest skyscraper development, set for launch in 2022.
This launch of Prudential’s new office comes just in time to mark their first decade of presence in Cambodia.
Prudential has a long established presence in Asia, spanning more than 90 years in the region. Cambodia is the company’s 13th market in Asia. Apart from Cambodia, the company’s Asia operations span across China, Hong Kong, India, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Taiwan, Thailand and Vietnam.
Located in the heart of Cambodia’s capital city, Prudential’s new office will occupy Office Tower 1 of a sprawling mixed-use development project, the Global Tech Exchange (G-TECH), in the new Phnom Penh City Center (PPCC) integrated township development.
About Prudential’s history in Cambodia
In early January 2013, Prudential Corporation Asia commenced its life insurance operations in Cambodia through its wholly owned subsidiary, Prudential (Cambodia) Life Assurance PLC (“Prudential Cambodia”).
Prudential’s life insurance products are distributed through ACLEDA, the largest commercial bank in the country. As of 2020, Prudential’s financial consultants are based in over 150 ACLEDA branches across Cambodia.
The company has been a key driver of growth in Cambodia’s insurance industry since its launch. Prudential’s multi-channel distribution platform offers a comprehensive range of tailored life insurance products to suit the Cambodians’ varying savings and protection needs.
In addition to meeting the diverse needs of Cambodian individuals and families, Prudential Cambodia engages in national-level financial literacy education efforts such as insurance seminars to build awareness and understanding of life insurance.
In June 2017, it reached a major milestone, having issued 100,000 life insurance policies in the Kingdom since beginning operations.
About the Global Tech Exchange project
Designed by AEDAS, one of the world’s leading global architecture and design practices, the Global Tech Exchange will consist of the hotel tower with a convention centre, two office towers, an IT and media hub with a custom-built Data Center, as well as banking and medical services.
The development is a joint project by Cambodian real-estate developer Shukaku and Singaporean developer Kingsland Global.
World-class hospitality company Hilton hotels is set to occupy the hotel tower of G-TECH. With a trio of towers ranging from 26 to 30 storeys, the Global Tech Exchange (G-TECH) will be part of the Phnom Penh City Center project’s redefining of the vibrant city’s skyline.
Along with an additional two full storeys of sought-after retail outlets to serve the local community, the G-TECH development is poised to be Phnom Penh’s new hospitality, business and retail hub, set for completion in 2022.
Working collectively with the wider Phnom Penh City Center, the Global Tech Exchange development will create opportunities for the cosmopolitan bustle to bloom in Phnom Penh, bringing new meaning and possibilities into how people live, work and play in the city.
About the Phnom Penh City Center project: Smart City Living of the future
The Phnom Penh City Center (PPCC) will be the capital city’s first and only Central Business District, and the nation’s most ambitious development project yet. The purpose-built project is poised to attract both local and overseas businesses and investors.
The presence of residential, retail and commercial spaces function to create mutual demand for each other, leading to accelerated development.
Conceptualized to transform the city’s landscape into a modern, sustainable, residential, commercial and leisure hub, this integrated township space offers a plethora of amenities and services for residents.
The Phnom Penh City Centre development is unlike anything the country has ever seen from existing developments. It focuses on setting up comprehensive infrastructure systems, international-standard traffic systems, and a strong commitment to sustainability, with plans for smart and green features included in street lighting and buildings.
The project is set to have over 10,000 homes and 83,000 square metres of office space in a planned CBD, along with broad roads, emergency services that link to the hospital. This is coupled with a seamless sewage system with built-in flood-prevention measures and a dedicated 150 MVA grid station for electricity and an uninterrupted water supply.
Phnom Penh’s futuristic new Utopia
Living in such close proximity to both work and play, residents in the PPCC can expect a hassle-free life, with the privilege to explore eco-friendly modes of transport such as walking or biking to work.
With facilities such as a sports complex, central park, medical center and 24/7 security, residents will revel in an unrivalled first-class living experience, marrying desirable factors of convenience, safety and entertainment together.
The PPCC integrated township development is also an attractive option to young families. Given the self-sustaining, all-in-one nature of these townships, kindergartens and schools are also present within the Phnom Penh City Center compound to provide quality education to children living there.
With these schools a mere few steps away from their home and offices, working parents may feel more secure and safe when it comes to dropping their children off at school. Expatriates looking to relocate to Phnom Penh for work will also be able to send their children to the international school located on the PPCC premises.
The PPCC is set to be home to leading banking institutions, corporate headquarters and international brands. By 2025, the new Phnom Penh City Center district expects over 56,000 residents to call it home and more than 190,000 daily visitors.