A special purpose company of Japanese contractor Fujita, developer Tokyo Tatemono and public-private fund JOIN will develop 92,000m2 multi-purpose complex in central Yangon, Myanmar. The company will form a local company to undertake the project next month. The building will be designed and constructed by Fujita, while Tokyo Tatemono is commissioned to manage and operate offices and retail store when completed.
The company is expected to break ground by the end of the year with completion due in 2020. 17.1 billion yen of the total 37.7 billion yen cost will be covered by the SPC. The nine story building, to be located in the adjacent area of Yangon Central railway station will have offices, shops and a high end hotel of 390 rooms. This marked the first project permitted under the new Investment Law. (2017/07/31)