Five Star Hotel in YangonFive-star hotel in Yangon
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Developer Eyes Five Star Hotel for Yangon
av _abdm = _abdm |||| ;_abdm.push(["1512023572", "InPage", "1512024292", "InPage_1512024292"]); var _abdm = _abdm |||| ;_abdm. push (["1512023572", "InPage", "1512024269", "InPage_1512024269"]); Shwe Taung Development Co will work with the Pan Pacific Hotels Group to construct a new 25-story five-star hotel in central Yangon. It will be located on Shwe Taung's New Bogyoke Market Site on the intersection of Bogyoke Aung San and Shwedagon Pagoda streets, a news item from Shwe Taung Co said on October 29.
The shareholdings of Shwe Taung remain at 60 percent, Pan Pacific at 20 percent and City Square Ltd at 20 percent. "We entered into a five-star hotel partnership with the Pan Pacific Hotels Group on October 26," said a spokesman for Shwe Taung. "We will work together on hotel investments and management," the spokesman added.
There will be 348 rooms in the hotel, the full text of the news will be added. The site was awarded to Shwe Taung in a call for tenders launched by the Yangon City Development Committee (YCDC) in March 2012. In May this year, the enterprise concluded a JV contract with YCDC for the 6-hectare site. On the site, the firm will be developing a mixed-use development comprising a hotel, an administrative building, a mall and a service residential area.
Shwe Taung spokesman said Pan Pacific Hotels has a good track-record of success in Myanmar. It is planning to modernize the pedestrian bridge between the beloved Bogyoke Aung San Market and New Bogyoke Market and include a canopy and an A/C system, said Ko Ye Naing, Shwe Taung Brand Management.
A 23-storey and 25-storey hotel and commercial centre will be the first stage of the development, with a 28-storey residential house and another commercial centre scheduled for the second stage.