Usd1.1bn of Construction for Yangon

• Proeksa Meas
• 15 January 2018
• Construction Focus
• 2457 Views

A rush to fill the market gap for high-end mixed-use space in Myanmar has seen three international companies announce projects worth over a billion dollars in Yangon.

Two projects with a combined development value of USD700m will be built by Bouygues of France and Taisei Corporation of Japan for Singaporean developer Yoma Strategic Holdings. One, Yoma Central will feature two Grade A office towers, a business hotel, serviced apartments and retail, while the second is to be a luxury hotel. Work is expected to be completed in 2021.

Japanese contractor Kajima will build a USD400m triple-tower project consisting of hotels and offices across three towers, of 27, 21 and 20 storeys in height with total floorage of 170,000 sq m. The development is part of a deal made between Myanmar and Japan in 2015 to develop public land on a public–private partnership basis.