Yoma’s landmark property project in Yangon gets lease extension

Deepening its business footprint in Myanmar, Yoma Strategic Holdings Ltd, a Singapore-listed realty developer, said, it has received a lease extension for its landmark property development project in downtown Yangon.

Yoma has diversified interests in consumer, automotive, agriculture & logistic and tourism businesses in Myanmar.

The project, for which the government has extended the lease period by 50 years effective 1998, entails restoration of the former headquarters of the ministry of rail transport into a mixed-used development comprising a Yangon Peninsula Hotel, luxury residences and commercial space.

For the project, Yoma is under an agreement with the Hongkong and Shanghai Hotels Limited since March 2014.

The project will be developed on a 10-acre site with a gross floor area of 2 million square feet.

The project comprises two sites, 9.5 acres for the hotel and the remaining for mixed-use development.

Its sister companies are Serge Pun Associates and First Myanmar Investment Company which operates Yoma Bank, FMI Air and has interests in healthcare and real estate.

Yoma and the SPA Group are taking a diversified approach in their investments in Myanmar. Their recent investment announcements include a logistics facility in Mingaladon township with Japan’s Kokubu Corp, an car distribution centre for Mitsubishi and a mobile financial service in partnership with Telenor.

Also Read:  Myanmar: Singapore’s Yoma, Japan’s Kokubu opens $5m storage facility in Yangon

Myanmar: Telenor, Yoma to launch mobile financial service Wave Money in 2016

Mitsubishi forges JV with SGX-listed Yoma Strategic to distribute cars in Myanmar

SG Realty dealbook : Yoma to spend $40m for Myanmar school venture; LHN signs deals for Jakarta & Yangon ventures

Yoma gets lease extension on Yangon Hotel project

 

 

 

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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.