Ground broken on massive mixed-use complex in Yangon

YANGON — Construction began here Thursday on a roughly $700 million project led by Myanmar real estate developer Yoma Strategic Holdings and Japanese trading house Mitsubishi Corp. The commercial-residential complex will be the largest real estate investment in Myanmar since the civilian government took over last March. A Peninsula hotel, the luxury chain run by […]

Myanmar Opens Bidding For New Yangon-Mandalay Rail Cars

​​ YANGON — Myanma Railways announced Friday that bidding has opened for train cars for upgrades to the railway linking the nation’s two largest cities of Yangon and Mandalay. The state-owned railway network operator seeks to acquire 24 carriages. The country’s rail network is not electrified, so Myanma Railways wants diesel-electric-type units. Bidding will close […]

Myanmar industrial park set to grow

YANGON — Myanmar’s first modern industrial park, developed in partnership with Japan, is due for a roughly 30% expansion as early as 2018. Building out the Thilawa industrial park is estimated to cost around 5 billion yen ($48.1 million). Opened in September 2015, the park is now 90% under contract. Construction of the park kicked […]

Post-Sanctions Myanmar the New Frontier for Global Business

YANGON/TOKYO — The end of long-standing U.S. sanctions on Myanmar companies linked to the former military government is cause for celebration in both countries, opening up a slew of previously off-limits business and investment opportunities. The U.S. Treasury Department lifted all financial sanctions on the Southeast Asian nation Friday after months of dogged appeals by […]

Mitsubishi to begin Myanmar project

YANGON – Japanese trading house Mitsubishi Corp said Tuesday that it has agreed with Mitsubishi Estate Co to commence work on a mixed-use landmark development project in downtown Yangon, Myanmar, in collaboration with Singapore-listed Yoma Strategic Holdings Ltd and local firm First Myanmar Investment Co. The project, which will cover 200,000 square metres of residential, […]

Yoma revs up property development drive in Myanmar

YANGON — Singapore-listed Yoma Strategic Holdings is accelerating its real estate development drive in Myanmar to meet growing local demand for residential units, offices and commercial facilities. Yoma’s move comes as Myanmar has emerged from decades of international isolation and now enjoys high economic growth, making the Southeast Asian country an increasingly promising property market. Yoma […]

Overwhelming interest for Yangon Railway Station plot

Yangon – More than 70 local and foreign companies have submitted their expression of interests to develop the land plot surrounding the Yangon Central Railway Station, according to Myanmar Railways. An anonymous source from the tender scrutinising committee said that their bids would be shortlist and the result would be announced in the second week […]

Yoma in tie-up to distribute Mitsubishi cars in Myanmar

Mainboard-listed Yoma Strategic Holdings announced on Wednesday (Dec 16) a 50:50 joint venture with Mitsubishi Corp to distribute the Japanese cars in Myanmar. The joint venture company, MM Cars Myanmar Ltd, will be responsible for the distribution (wholesale), retail sales, after-sales services, and maintenance services of Mitsubishi cars and spare parts. It will also take […]

Yangon KFC operator upbeat on post-election economy

Myanmar’s first KFC restaurant has thrived since opening in Yangon in July, with people regularly seen lining up outside the shop to buy the various chicken dishes on offer. The franchise is operated by Yoma Strategic Holdings, the Singaporean subsidiary of Myanmar conglomerate Serge Pun & Associates. Serge Pun, SPA’s founder, is known as the […]

Myanmar launches Thilawa industrial zone

THANLYIN, MYANMAR — Dignitaries from Myanmar and Japan on Wednesday launched the first phase of a huge industrial zone on the outskirts of Yangon, as the long-isolated nation pushes to rapidly accelerate its industrialisation. Housing everything from children’s toy manufacturing to a car assembly plant and a deep-sea port, the Thilawa Special Economic Zone (SEZ) […]