Tourism firm commits Ks 46 billion to project on ex-military college grounds

YANGON—Adventure Myanmar Tours & Incentives Company will invest Ks 46 billion (US$ 46 million) to build hotels and infrastructure on 7.42 acres of land at the former National Defence College, according to the Myanmar Investment Commission.

The MIC allowed the company to operate on the former college grounds in accordance with the foreign investment law after reviewing its application during a meeting on January 30.

The land has been leased to the company under a Build, Operate and Transfer (BOT) contract to build a five-star hotel, a shopping mall, a business centre, and serviced apartments.

Adventure Myanmar Tours & Incentives Company is the second firm to invest in the compound of the former defence college after Shwe Taing Development was allowed to build an international standard hotel, a serviced apartment, and a shopping complex on 12.6 acres of land of the former National Defence College in August last year.

Shwe Taing Development Company will invest Ks 100 billion (US$101 million) on the project.

Source: ELEVEN Myanmar

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

.

Looking for foreign investors to invest in your business in Myanmar