Office space in Phnom Penh: 3 things to consider

Office space in Phnom Penh: 3 things to consider

Being situated in a desirable, easy-to-find location helps to attract new employees and clients. The office’s surrounding environment plays a big part in how your company is viewed by others.

Overview of office spaces in Phnom Penh

The choice of an office space is one that has a lasting impact on the business’s future success. It is an area where companies cannot afford misstep, and is one that may seem daunting for many reasons. For one, companies often face multiple internal inputs from their various departments, each sharing their opinions on must-haves and red-flags they see in an office space. Here, we look at some important factors to keep in mind.

The Importance of An Office Space

The coronavirus pandemic has caused what’s shaping up to be the world’s largest work-from-home experiment. For some companies, this experiment has turned out surprisingly well, and some are considering keeping things as they are now. However, there are significant merits to an office space.

In trying to decide between running a business remotely versus leasing an office space, these are reasons why the latter option is the one to pick:

An office space is a space to create and grow a company culture. Having a physical working space that employees all turn up to creates a tangible environment for collaboration, creativity and socialising. This boosts the employee experience, which is a key factor for sustaining good talent retention, high levels of innovation within various teams, and more.

An office space creates space for building rapport. While some may argue that it’s possible to socialise online, such as on events like group happy hours on Zoom, there lies a big difference: these online moments are ones that are purposefully pencilled into people’s calendars.  Their physical equivalents might be company drinks on a friday evening, or a work outing to a bowling alley.

These online events are far from being equivalents of chatting when running into each other in the bathroom or pantry – and we know it’s these chats that are the most interesting. Oftentimes, it’s during these moments of spontaneity where the best brainstorming takes place.

Beyond being a physical collaborative space, a company’s office is also a branding piece. The aesthetics of the workspace expresses everything from the company’s philosophy, positioning and financial health. All these elements go a long way in making a good first impression to potential clients, and attracting top-quality talent to the company.

Things to consider when choosing an office space

Based on data from a Knight Frank report in 2019, there has been an overall increase in available office spaces within Phnom Penh, with many new developments popping up within the next few years. With such a wide range of choices to choose from, it’s easy to feel spoilt for choice and unsure of where to start.

Apart from the logistical aspect of location, there seems to be a never-ending list of other equally important factors to think about.

To help, here is a list of top things to consider:

1. Location, Location, Location

This should sit at the top of the list, or at the very least, somewhere close to the top. A company’s office should be easily accessible for employees and clients.

Being situated in a desirable, easy-to-find location helps to attract new employees and clients. Potential hires may not be keen to work in an office that takes two hours to commute to, in a difficult-to-find part of the city.

Apart from accessibility, evaluating the locale also involves considering the reputation of the area. The office’s surrounding environment plays a big part in how your company is viewed by others.

If one’s business is positioned smack center in the Central Business District, it conveniently places the company within the prime spot of the city, surrounded by big MNCs, banks, and sophisticated unicorn tech firms. This boosts a company’s image by association. 

2. Money Matters

Before deciding on an office space, companies should first decide on how much they are willing to spend. This involves calculating one’s net income in order to know the financial bandwidth available for the new office.

From an inventory perspective, it might also be a good idea to plan business needs down to the detail of equipment needed, taking into account desks you may need to buy, and potential additional minor renovation costs that may be incurred prior to moving in.

Following that, aim to look for ways to get the most bang for your buck. For companies looking to scale up, hence wanting a bigger and better office with room for more staff, ensure that while keeping within budget boundaries, the selected space is one that is future-proof.

This means selecting a place with scalability, hence saving on the cost of relocating in a few years to accommodate a rapid hiring spree. When viewing the space, evaluate if the space can accommodate more people when the need arises.

At this stage, venture a few questions on flexibility – asking if renovations are allowed. Alternatively, enquire about the possibility of shorter leases, which allows you to exit should the need arise to move off to somewhere bigger.

3. Check for a Secure Infrastructure

Before deciding on an office space, companies should first decide on how much they are willing to spend. This involves calculating one’s net income in order to know the financial bandwidth available for the new office.

From an inventory perspective, it might also be a good idea to plan business needs down to the detail of equipment needed, taking into account desks you may need to buy, and potential additional minor renovation costs that may be incurred prior to moving in.

Following that, aim to look for ways to get the most bang for your buck. For companies looking to scale up, hence wanting a bigger and better office with room for more staff, ensure that while keeping within budget boundaries, the selected space is one that is future-proof.

This means selecting a place with scalability, hence saving on the cost of relocating in a few years to accommodate a rapid hiring spree. When viewing the space, evaluate if the space can accommodate more people when the need arises.

At this stage, venture a few questions on flexibility – asking if renovations are allowed. Alternatively, enquire about the possibility of shorter leases, which allows you to exit should the need arise to move off to somewhere bigger.

It is crucial that the site of one’s office has a solid infrastructure set in place.

If possible, obtain data from an internet speed test of the building’s internet connection. Ensure that working in this new site, employees will not run into the unfortunate situation of patchy connection, which takes a toll on productivity.

Bearing in mind the stress of high-workload days and presentations that staff may be giving to clients visiting the office, a stable and strong internet connection is instrumental in ensuring the smooth running of day-to-day operations.

Set up your office in the heart of Phnom Penh City Center (PPCC)

The Global Tech Exchange (G-TECH) is a brand new mixed-use development strategically located in the centre of Cambodia’s capital, in the city’s first and only Central Business District. The G-TECH skyscrapers are made up of two office towers, a data center, a hotel tower helmed by leading hotel group Hilton Hotels, and two retail floors.

To date, financial services giant Prudential has come on board to be anchor tenant of Office Tower 1. Set for completion in 2022, the G-TECH development boasts an ultra-modern sophistication and will be Phnom Penh’s new business, retail and hospitality hub.

The Global Tech Exchange is jointly developed by Cambodian real-estate developer Shukaku and Singaporean developer Kingsland Global. The PPCC boasts a fiber optic cable network service, providing fast and stable internet connection.

With G-TECH’s close proximity to retail offerings, banks, and a post office, along with being surrounded by over 22,000 sqm of public green space, setting up your business in the ultra-modern G-TECH would also mean getting to enjoy the surrounding abundant amenities of the township.

MSQM ZTH
MSQM ZTH
ADMINISTRATOR
PROFILE

Posts Carousel