[SeeMacau]

Name: Parkson Mall
Developer: True Excel and PPSW Development Co., Ltd
Location: Directly opposite the Phnom Penh International Airport
Completion: Expected to be completed in three years
Description: The development includes the proposed Parkson Mall, the proposed PPSW parcel comprising 300 hotel rooms, shop houses and a 12-storey block of serviced apartments and another block of 8-story apartments.

True Excel may lease two floors in the mall for 50 years at an indicative refundable deposit of about RM138.6mil and purchase six floors for an indicative purchase price of RM247.8mil.

 

[SeeMacau]

Parkson's Cambodia expansion seen boosting earnings in the long term

http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=YTg5NTNkOWVhOTg

PETALING JAYA (The Star/ ANN) -- Parkson Holdings Bhd (PHB)’s expansion into Phnom Penh, Cambodia, via its proposed Parkson Mallwould provide it with a steady income stream in the long term, mainly from rental yield, according to Affin Investment Bank.

The proposed location of the mall – directly opposite the Phnom Penh International Airport – would allow it easy access to surrounding international brand car showrooms and infrastructure facilities, said Affin.

PHB unit True Excel Investments (Cambodia) Co Ltd has entered into a conditional option agreement as well as a sale and purchase agreement with PPSW Development Co Ltd (PPSW), in which True Excel may lease two floors in the mall for 50 years at an indicative refundable deposit of about RM138.6mil and purchase six floors for an indicative purchase price of RM247.8mil.

The total lease and acquisition agreements made with PPSW amount to RM386.4mil.

PHB is also to lease to Parkson Cambodia the anchor tenant space at the second and third floors of the mall for a rental rate of US$778,000 (RM2.53mil) per month.

Affin reported that PPSW’s integrated commercial and property development project, the proposed aeropod project in Sangkat Kakap in Phnom Penh, was expected to be completed in three years.

The development includes the proposed Parkson Mall, the proposed PPSW parcel comprising 300 hotel rooms, shop houses and a 12-storey block of serviced apartments and another block of eight-story apartments.

While research houses agreed on the group’s propensity for bigger earnings and market diversification, Hwang-DBS Research held a more cautious outlook, maintaining that PHB lacked a near-term catalyst, given its earnings being dampened by its China operations (Parkson Retail Group).

“It could continue to experience weaker same store sales growth,” said Hwang-DBS.

Last month, the group told Bursa Malaysia that its retailing division completed the 2013 financial year ended June 30 with a revenue of RM3.47bil.

This was up 2% from last year’s RM3.4bil, thanks to contribution from seven new stores – four in China and one each in Malaysia, Indonesia and Myanmar – that were opened during the period.

Cambodia will be the latest to open following those countries.

According to the International Monetary Fund, Cambodia’s gross domestic product is expected to grow by 6.7% in 2013 and 7.2% in 2014, supported by increasing foreign investment.

 

[SeeMacau]

http://www.amesecurities.com.my/gc/download/Parkson Holdings 130321.pdf

First Parkson in Cambodia's capital city of Phnom Penh will open in FY14F (2014), with a total GFA of 36,500 sq m

 

[SeeMacau]

Mega mall to go across street from the airport

http://www.phnompenhpost.com/business/mega-mall-go-across-street-airport

The anticipated shopping mall from Malaysia-based retail chain Parkson Holdings Bhd will be a seven-storey building directly opposite the Phnom Penh International Airport, complete with a supermarket, bowling alleys, retail lots, gymnasium, showrooms, karaoke and a swimming pool, according to a statement filed with Malaysia’s stock exchange on Friday.

Next to the mall, which is expected to open in June 2017, the company plans to construct a hotel and serviced apartments.

Parkson is entering Phnom Penh’s growing mega-mall landscape, joining the Japanese-funded, 68,000-square-metre Aeon mall set to open in mid-2014 on Sothearos Boulevard next to the Sofitel.

Hiroshi Suzuki, CEO and chief economist of the Business Research Institute for Cambodia, said a growing middle class means there’s room for a variety of mega malls, none of which has opened its doors yet.

Parkson could not be reached for comment yesterday. However, last week’s statement described the project as having “good accessibility with enhanced infrastructure and strategic location”, neighbouring international brand car showrooms and industrial parks.”

“Phnom Penh … has in recent years been reported to have attracted international retailers such as Aeon and Costa Coffee, Swensons and Kentucky Fried Chicken,” the statement said.

Parkson operates 52 department stores in Malaysia, Vietnam and Indonesia, according to its website.

 

[kimmy]

Now it is clear where Parkson locate. I think they select the right place

 

[SeeMacau]

But this mall is expected to be open in June 2017, we have to wait 4 years.

 

[mrfusion]

Where about opposite the airport, there isn't any land opposite the airport car park, the closet block of respectable size is on the far right (looking from the airport), on the right of a block of almost empty shop house development.

 

[SeeMacau]

No idea, wait a little longer for further announcement. Will it be on the side where the ''Bali Apartments'' are located?

 

[kimmy]

Uploaded with ImageShack.us

Just my guess, I am not sure

 

[SeeMacau]

Thanks kimmy IMO the mall management can work together with the airport authority to build an overhead pedestrian bridge, connecting this mall directly to the airport for travelers in their layover time before their next connecting flights

 

[SeeMacau]

Parkson CT Plaza in Ho Chi Minh City is a short distance away from the Tan Son Nhat International Airport. However there is no proper pedestrian walkways leading from the airport to the CT Plaza. The mall provides free regular shuttle services from the shopping mall back to the airport terminals whereas travelers can refer to flight departure screens inside the mall for the flight information.

 

[mrfusion]

No idea, wait a little longer for further announcement. Will it be on the side where the ''Bali Apartments'' are located?

That (Bali Apartment) is actually fairly far from the airport.

 

[mrfusion]

Thanks kimmy IMO the mall management can work together with the airport authority to build an overhead pedestrian bridge, connecting this mall directly to the airport for travelers in their layover time before their next connecting flights

Unfortunately, if it is located at where Kimmy and I believe, such bridge may be difficult, and look quite odd. The site we refer to is not directly opposite the airport entrance, and is off by about 400-500m.

The bridge will need to be at least 700-800 m to connect to the departure entrance.

 

[mrfusion]

Parkson CT Plaza in Ho Chi Minh City is a short distance away from the Tan Son Nhat International Airport. However there is no proper pedestrian walkways leading from the airport to the CT Plaza. The mall provides free regular shuttle services from the shopping mall back to the airport terminals whereas travelers can refer to flight departure screens inside the mall for the flight information.

It is still 400m away, I think shuttle bus is fine.

 

[kimmy]

Building a 12 storey very close to the airport is OK? Does it comply with general aviation rule?

 

[mrfusion]

It is next to the runway, not at the end of the runway.

 

[SeeMacau]

Height restriction is needed for the sake of safety. 12 floors is the maximum height allowed I supposed

 

[mrfusion]

Height restriction is needed for the sake of safety. 12 floors is the maximum height allowed I supposed

I am trying to understand the logic in this. Where lots of people you can't build tall building next to airport.

I can see you can't have tall building at the approach of the runway, the airport runway is in a NE/SW direction, so height restriction should be apply at both end of the runway, obviously it spread out a bit as plane don't usually come in straight.

But when it comes to buildings like this, which is no where near the approach path, what safety concerns are there? I try to find height restriction on building next to airport (yet not at the direction of runway), but couldn't find any.

 

[SeeMacau]

In Singapore, buildings are permit to be constructed only up to a maximum height of 280 metres due to the proximity of Changi Airport. Still, the airport is more than 10 km away from the center of the city.

 

[mrfusion]

In Singapore, buildings are permit to be constructed only up to a maximum height of 280 metres due to the proximity of Changi Airport. Still, the airport is more than 10 km away from the center of the city.

Actually, Singapore also has 5 or 6 other military airport closer to the city.