Vietnam’s Hoang Anh Gia Lai signs agreement with Spanish company for Yangon hotel

Vietnam-based Hoang Anh Gia Lai and Spanish Melia Hotels International have signed an agreement to jointly operate a five-star hotel that will soon open in Yangon.

A signing ceremony was held at Yangon’s Sedona Hotel, attended by Htay Aung the Union Minister for Hotels and Tourism.

Melia Hotels will only take care of managing part for the hotel, which is being developed by Hoang Anh Gia Lai Myanmar and is expected to be completed in June, according to the agreement. Myanmar Investment Commission granted permission for the hotel in 2013.

The project is located at the corner of Kabaraye Pagoda Road and Setmu-1 Road in Yangon.

“The project is about 95 percent complete,” said Vo Truong Son, General Secretary for Hoang Anh Gia Lai Myanmar. “The interior decoration is next to being done and now under way,” he added.

The Vietnamese company started the multi-million dollar development project in 2013. It is one of the Myanmar’s largest integrated projects with four office blocks, a retail mall, serviced apartments and residential apartments alongside the luxury hotel.

The project suffered a major set back after Singapore-based Rowsley called off its investment plan worth US$ 550 million this month. But Mr Vo insisted that “the whole project will be completed next year.”

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”, "Dagon City", “MOGE”, “yangon stock exchange”,"MECTEL", "hydropower", etc.

To learn about the business opportunities in Myanmar click here

To evaluate the various segments of the market that you could possibly enter base on your competencies you can do a Custom Market Entry Strategy Research. You can see a sample report at page "Actual Sample of Client Report”. Click here to go to page.

Do you know that IE Singapore is giving up to SGD 20,000 support for Singapore company to venture into Myanmar? To learn more click here

If you are interested to be listed in our Service Provider Directory as a supplier of services or products that we can use to match with the needs of our clients in Myanmar please fill up the online form by clicking here