Encouraged by the increasing tourist arrivals, Myanmar Tourism Development Company (MTDC) will start developing a new hotel zone project on 808ha of land in Tada Oo Township in Mandalay by end-January.
Yan Win, chairman of MTDC, a business arm of Myanmar Tourism Federation, said the project will cost about US$560 million and will include the building of infrastructure and other facilities.
“With the approval of the Mandalay regional government, we will start to build basic infrastructure such as roads, and we expect to finish the whole project in six years,” he said.
He added that while the project will be designed by a foreign company, it will be developed by local companies. “After completion, we will have 20 international-standard five-star hotels in this zone.”
Foreign investors will build about 100 hotels on about 237ha of land, while local investors will build 192 hotels on 410ha.
The project will comprise two phases, with hotel-related developments planned for the first two years. When completed, there will be 10,000 hotel rooms and at least 50,000 local jobs will be created.
Htay Aung, minister of hotels and tourism, said the project area is strategically situated near several attractions.
He added: “I hope this project will position Mandalay as the main tourism destination of Myanmar since the site is near historical places such as Inwa archaeology zone, Sagaing Hill, Mingun, Maenu Monastery and Bargayar Monastery.”
Su Su Tin, managing director, Exo Travel Myanmar, said: “A rooms shortage has affected the industry in the last three years, and big hotel projects in key destinations will help.
“The ministry should plan similar projects in various key destinations too,” she added.
The government has announced plans for hotel zones in other areas including Yangon, Bagan, Taunggyi, Chaungtha Beach, Inle Lake, Rakhine, Mawlamyine, the Golden Triangle, Bago, Ngwe Saung Beach and Nay Pyi Taw.
Source: TTG Asia