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Colliers Property Report: Yangon Hotel Quarterly Review Q2 2018

  Influx of Asian Tourists Spurred Demand Paul Ryan Cuevas Analyst | Research & Advisory As of H1 2018, Yangon witnessed a significant 6% YOY rise in the citywide occupancy rate. Resulting from the improvements in the overall tourist arrival figures coupled with the absence of project completions in Q2 2018, occupancy almost breached the […]

Yoma awards building contracts worth over US$400m for new Yangon developments

SINGAPORE – Yoma Strategic Holdings on Wednesday (Nov 29) announced the signing of an agreement with two global construction companies to build its integrated real estate development Yoma Central, and The Peninsula Yangon, the former headquarters of the Burma Railway Company which will be restored into a luxury hotel. Both projects sit on an about […]

Singapore’s Pan Pacific opens new hotel in Yangon, remains confident of long term ROI

Wee Wei Ling, executive director of Pan Pacific Hotel Group, isn’t at all worried about the glut in hotel rooms in Yangon. “There is definitely an oversupply. In fact, tourism has been declining recently. But we are long-term investors in Myanmar. We see the potential of this country and we would like to grow with […]

New mega-complex project approved near Yangon’s Shwedagon Pagoda

A Japan-led consortium has officially obtained permission to build a large-scale mixed-development project at the intersection of Shwedagon Pagoda Road and U Wisara Road in Yangon. Development of the US$332.5 million project will begin this year on the former site of the military museum across 16,000 sq m of land. It will comprise a high-grade […]

Upper Scale Hotel Market in Yangon 4Q, 2014

Subscribe to our Tender Alert. We send out email alert on Tender and EOI as it happens. Research & Forecast Report Yangon | Upper Scale Hotel Market 4Q 2014 Planned influx of foreign operators as tourism sector continues to grow The number of upper-scale hotel rooms in Yangon is expected to grow significantly as over […]

The price of history: restoring the former railways headquarters

Restoration work is never straightforward but the former Burma Railways headquarters poses particular challenges for those hoping to turn it into a luxury HOTEL IN the coming years. The building, according to project backer Serge Pun, was built on a slab that is around 60 centimetres (2 feet) deep, but lacks any footings to anchor […]

FMI’s Landmark project moves forward without ‘critical’ lease extension

Restoration efforts are ongoing on the centrepiece building of a major development project in Yangon backed by business tycoon Serge Pun, despite continued difficulties in securing a critical lease extension for the mixed-use property. Major work on the Landmark Project, estimated at more than US$400 million and spread over more than 10 acres of prime […]

Luxury hotel agreement signed for former MR headquarters

Hongkong and Shanghai Hotels Limited and Yoma Strategic Holdings Ltd.,have signed an agreement to convert the former Myanmar Railways headquarters in downtown Yangon into a luxury hotel, they announced in a joint news release. The shareholders’ agreement to restore the former MR headquarters on BogyokeAung San Road into a hotel to be called The Peninsula […]

Conservation projects in Yangon face long road ahead

Several high-profile renovation projects for Yangon’s most iconic heritage structures tendered by the state one year ago have yet to begin as the government is slow to rubberstamp master plans, while some development firms have yet to submit them, officials said. In November last year, the Myanmar Investment Commission chose four firms to separately convert […]