The Foreign Trade Bank of Cambodia (FTB) in collaboration with MSNH Investment (MSNH Investment) has announced the start of construction of its new headquarters, FTB Tower, at a groundbreaking ceremony.
Deputy Prime Minister and Minister of Land Management, Urban Planning and Construction Chea Sophara officiated the ceremony on Friday.
With a total area of 77,593 square metres, the FTB Tower will have a total of 28 floors, four basements for parking and a rooftop helicopter landing area. FTB Tower is located on Prampi Makara district, along the Russian Boulevard, near the Peace Palace, Office of the Council of Ministers, a major commercial location in the heart of Phnom Penh.
FTB Bank, the first local commercial bank in Cambodia, was established in 1979.
With an investment of $112 million, FTB Tower is a grade A office. The building was designed by Aedas Architecture, and built by China Construction Midland (Cambodia) Co., Ltd, a subsidiary of China State Construction.
The construction will use state-of-the-art equipment including the latest technology with automation, fire safety, energy conservation and environmental protection in accordance with the building regulations of national and regional standards.
FTB Tower also serves as a goal of sustainability and is a modern office building that blends Cambodian culture with contemporary architecture. It is expected to take three years to complete and will be the new headquarters of FTB Bank and a hub for development and expansion of its services.
The bank’s assets rose to $1.71 billion, loans surged by $1.15 billion and deposits increased by $1.4 billion.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.