Cambodia Investment Review
CBRE Cambodia has hosted a market leading event focused on the evolution of Phnom Penh office environments, “Unveiling the Office of the 21st Century: Shaping the Future of Work, Lifestyle, and ESG,” explored how modern workspaces are increasingly incorporating lifestyle features and Environmental, Social, and Governance (ESG) considerations.
CBRE Cambodia’s Country Director, Lawrence Lennon, took center stage with a presentation that posed the question: “What is a modern office?” Lennon explained that the swift progression of the Cambodian office sector, noting a doubling in market size since 2019, to a current total of 1 million square meters of space.
“At breakneck speed, the office market went from 500,000 sqm in 2019 to approaching almost 1 million sqm of supply today,” Lennon explained. “To stand out from the crowd, Phnom Penh’s office spaces will need to leapfrog traditional developmental stages, embracing state-of-the-art, flexible, and eco-friendly designs.”
Most Coveted Office Features: Connectivity, Convenience, and Community
Lennon put forward his vision for the modern office — a harmonious fusion of lifestyle choices, technological advancements, and shared spaces, serving not only operational purposes but also playing critical roles in talent acquisition and retention, and meeting environmental objectives.
CBRE’s APAC Research in June 2023 provided a snapshot of the most in-demand office amenities. Among these are professional video shooting facilities, smart technologies, concierge services, childcare provisions, outdoor spaces, fitness centers, electric vehicle charging stations, and flexible workspaces. The company’s research positioned these features as pivotal for the integration of the Physical, Human, and Digital aspects of the workplace.
However, it was noted that the adoption of office-based hybrid work, while heralded as the new normal in the Asia-Pacific region, appears to be a gradual process in Cambodia, with flexible seating arrangements still in the nascent stages mostly due to ongoing business norms as well as a lack of quiet working spaces in family homes.
Championing ESG: ODOM Leads by Example
One of the leading developments focusing on ESG commitments in Phnom Penh is the ODOM development. Positioned on the sought-after Norodom Boulevard, this Singaporean-designed complex, led by developer ULS, is setting the standard for community-centric, sustainable urban living. The development harmoniously blends residential, commercial, and office spaces across two towers connected by a podium, reminiscent of the communal spirit found in traditional Khmer villages.
Read more: ODOM – A Groundbreaking Icon in Phnom Penh’s Real Estate Landscape
Strategically located 30 minutes from Phnom Penh International Airport, ODOM is within easy reach of a multitude of amenities, including corporate businesses, embassies, and lifestyle venues. It echoes the city’s unique blend of modernity and French-colonial elegance.
In terms of sustainable credentials, ODOM stands out as one of the few buildings in Cambodia to earn the coveted LEED certification, scoring high for its sustainable design which includes:
- The utilization of high-quality, eco-friendly materials
- Over 7,000 sqm of publicly accessible green space
- Six vertical sky villages that foster social interaction
- A naturally ventilated garden sanctuary to combat urban heat
- Energy-efficient appliances and systems
- Ample bicycle parking facilities
These features underscore ODOM’s commitment to intertwining nature with urban living, thereby promoting a healthier lifestyle and a reduced carbon footprint for the city.
Industry Leaders Weigh In on the Future of Cambodian Workspaces
The event also featured insights from industry experts. Chea Ty, Head of Sales at ULS, underscored the necessity of meeting international standards to attract global companies, emphasizing sustainability and technology as cornerstones of modern Cambodian offices.
Read more: Cambodian SMEs Risk Losing Out To Regional Competitors That Are More ESG-Ready
Te Vong Chhay, CEO of Parbury Investments, highlighted the technological and societal shifts compelling companies to rethink their work environments, particularly in the wake of the pandemic.
Hun Chansan, Principal of Re: Edge Architecture, encapsulated the event’s ethos, stressing that the design of an office is about crafting a relationship between people, economy, and environment. “People excel when they fall in love with their workspace, which should be convenient while also socially and environmentally responsible,” Chansan stated.
With sustainability at the forefront, Cambodia’s corporate spaces are being reimagined as dynamic ecosystems that cater to the well-being of individuals and the broader community, signaling a new chapter in the nation’s economic and environmental development.
