Singaporean real estate developer Oxley Holdings has acquired a 1,200-square-metre plot of land in Phnom Penh’s Tonle Bassac district for $6 million through its local subsidiary, Oxley-Wordbridge, the company said on Friday.

The land will be used to house a new showroom for its $500 million mixed-used development The Peak.

Following The Peak’s anticipated completion in 2020, the plot of land will be developed into commercial property by the company, the release said.

Oxley-Worldbridge is also the developer of the $300 million The Bridge project, which is scheduled to be completed in 2018.