|Located opposite the Sule Shangri-La Hotel and the Sakura Tower and adjacent to the famous tourist destination of Bogyoke Aung San Market, the Landmark Development project is at the heart of the downtown Yangon business district. The prime site currently hosts FMI Centre, the Grand Meeyahta Hotel building (which ceased operations in October 2013) and one of Yangon’s most famous heritage buildings, the former Burma Railway Company Headquarters, which was built in 1877. Graphic: Yoma Holdings|
Property developer Yoma Strategic Holdings has won approval from the Myanmar Investment Commission for a lease extension that will let it redevelop the former headquarters of the Myanmar Railways Company into a five-star hotel, reports Channel News Asia on March 13.
Yoma Strategic Holdings Company is to receive a US$100 million (K100 billion) loan from the Asian Development Bank to help improve Myanmar’s infrastructure connectivity.