Yoma Strategic Holdings Ltd. has announced that a framework agreement has been signed with the Ministry of Rail Transport of Myanmar in relation to the Landmark Development project.
Located at the heart of the downtown Yangon business district, the Group’s iconic Landmark Project will host the former headquarters of the Myanmar Railway Company built in 1877 which will be restored into the Yangon Peninsula Hotel and complemented by luxury residences, hotel and commercial developments.
Mr Melvyn Pun, CEO of Yoma Strategic, commented. "We are delighted to have extended our land lease for the main site of the Landmark Project and signed the framework agreement in the presence of the Minister and Deputy Minister of Rail Transportation, senior officials of the MR, as well as representatives of our partners in the Landmark Project, the executives of Hongkong& Shanghai Hotels, Mitsubishi Corporation, Mitsubishi Estate, International Finance Corporation and the Asian Development Bank. This project draws together expertise from an esteemed group of organisations and we are confident of transforming the Landmark Development site into an iconic project that would be pivotal in the development and growth of downtown Yangon. "