Myanmar-based Yoma Strategic Holdings has signed contracts – worth more than US$400 million in total – with French company Bouygues Construction and Japanese firm Taisei for the construction of Yoma Central and The Peninsula Yangon, in Myanmar.
It is said to be one of the most ambitious building developments in Yangon’s recent history.
Both projects sit on an approximately four hectare site in the heart of downtown Yangon, Myanmar.
The main works contracts will include civil, structural, architectural, mechanical, electrical, plumbing and heritage works.
The Yoma Central project will be carried out by a joint venture between Dragages Singapore – a subsidiary of Bouygues – and Taisei.
The integrated real estate development will have a total floor area of about 226,600m2 and will feature luxury residences, two office towers, a hotel, and services apartments, all connected by a retail podium.
For The Peninsula Yangon, Dragages Singapore and Yoma Strategic will be working together to restore the former headquarters of the Burma Railway Company, turning it into a luxury hotel.
A groundbreaking ceremony was held earlier this year, in February, by Yoma Strategic, to commemorate receiving the Myanmar Investment Commission permits.
Construction work has already begun. The FMI Centre and Grand Meeyahta Executive Residencies have been demolished, test piling has been carried out, and a culvert has been constructed under the Bogyoke Aung San Road.