Filipino realtor, City Mart tie up for Myanmar property project

The Philippines’ oldest and largest conglomerate Ayala Corp has formed a partnership with Myanmar’s leading supermarket chain City Mart Holdings to tap Asia’s last frontier’s booming property market.

The real estate arm of Ayala will team up with City Mart for a mixed-use project in Yangon, Paolo Borromeo, head of corporate strategy and development group at Ayala Corp, told reporters at a recent briefing in Manila.

However, he said the companies are yet to finalise the details of the project.

“I think what City Mart wants to do is they have properties that they want to convert. If I’m not mistaken, they plan retail establishments in Yangon,” Borromeo was quoted as saying in Filipino media.

Early this year, the property developer said it would undertake a $30-million residential development in Myanmar in partnership with a local company.

Ayala’s move comes as part of its efforts to expand its footprint in Southeast Asia.

City Mart Holdings operates multiple retail formats in Myanmar, including supermarkets, bakeries, cafes, pharmacies, baby accessories and convenience stores. The group’s founder and manager director, Tint Win Win, also founded the Pahtama Group in 1997, one of the leading distributor of consumer products in Myanmar.

Source:Content sharing agreement with Myanmar Business Today

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.