Huge city development kicked off in Yangon
A $700-million urban development project saw its groundbreaking ceremony in Yangon downtown on February 17: The “Yoma Central” complex, the country’s largest real estate investment involving foreign stakeholders so far.
Yoma Central, situated in a business district opposite the Sule Shangri-La Hotel, Sakura Tower and Bogyoke Aung San Market, which is a popular shopping destination for locals and tourists, is comprising multiple buildings, including two office towers, retail space, a serviced apartment tower, a business hotel and a luxury hotel.
Spread over approximately four hectares of prime land, Yoma Central is a cooperation between Yoma Strategic Holdings and First Myanmar Investment Co. for the domestic part and with The Hongkong and Shanghai Hotels, Mitsubishi Corporation, Mitsubishi Estate Co for the foreign part. Additional financing comes from the International Finance Corp of the World Bank and the Asian Development Bank.
The compound includes the iconic former headquarters of Burma Railway Co which is to be restored as part of the planned luxury hotel to be named Peninsula Yangon,. The entire project is expected to be completed in 2020. Main designer and architectural consultant is Vietnam-based Archetype Group, whose references include iconic structures such as the Mahanakhon Tower in Bangkok, the Taj Mahal Palace in Mumbai or the Siem Reap International Airport in Cambodia
“Our vision for Yoma Central is that of an ultramodern development utilising environmentally sustainable architecture, which will become a prominent feature of Yangon’s skyline for years to come,” said Serge Pun, executive chairman of both Yoma Strategic Holdings and First Myanmar Investment Co, the first company listed on Myanmar’s newly opened stock exchange.
“This is just the beginning, and we are very excited to play a role in the transformation of Yangon into a truly international city which will continue to serve as the gateway to the rest of Myanmar,” he added.
[caption id="attachment_29533" align="alignleft" width="300"] Yoma Central, Yangon[/caption] A $700-million urban development project saw its groundbreaking ceremony in Yangon downtown on February 17: The "Yoma Central" complex, the country's largest real estate investment involving foreign stakeholders so far. Yoma Central, situated in a business district opposite the Sule Shangri-La Hotel, Sakura Tower and Bogyoke Aung San Market, which is a popular shopping destination for locals and tourists, is comprising multiple buildings, including two office towers, retail space, a serviced apartment tower, a business hotel and a luxury hotel. Spread over approximately four hectares of prime land, Yoma Central is a cooperation...
A $700-million urban development project saw its groundbreaking ceremony in Yangon downtown on February 17: The “Yoma Central” complex, the country’s largest real estate investment involving foreign stakeholders so far.
Yoma Central, situated in a business district opposite the Sule Shangri-La Hotel, Sakura Tower and Bogyoke Aung San Market, which is a popular shopping destination for locals and tourists, is comprising multiple buildings, including two office towers, retail space, a serviced apartment tower, a business hotel and a luxury hotel.
Spread over approximately four hectares of prime land, Yoma Central is a cooperation between Yoma Strategic Holdings and First Myanmar Investment Co. for the domestic part and with The Hongkong and Shanghai Hotels, Mitsubishi Corporation, Mitsubishi Estate Co for the foreign part. Additional financing comes from the International Finance Corp of the World Bank and the Asian Development Bank.
The compound includes the iconic former headquarters of Burma Railway Co which is to be restored as part of the planned luxury hotel to be named Peninsula Yangon,. The entire project is expected to be completed in 2020. Main designer and architectural consultant is Vietnam-based Archetype Group, whose references include iconic structures such as the Mahanakhon Tower in Bangkok, the Taj Mahal Palace in Mumbai or the Siem Reap International Airport in Cambodia
“Our vision for Yoma Central is that of an ultramodern development utilising environmentally sustainable architecture, which will become a prominent feature of Yangon’s skyline for years to come,” said Serge Pun, executive chairman of both Yoma Strategic Holdings and First Myanmar Investment Co, the first company listed on Myanmar’s newly opened stock exchange.
“This is just the beginning, and we are very excited to play a role in the transformation of Yangon into a truly international city which will continue to serve as the gateway to the rest of Myanmar,” he added.
