Three companies have reportedly been selected for three “mega city development projects” in Yangon that cost a combined total of US$2.29 billion. An international report said that South Korean state-backed Korea Land and Housing Cooperation, and local companies Alliance Star Group of Companies and Shwe Taung Group will work alongside the Ministry of Construction on the projects in Yangon. The report said that the ministry will soon select the company to develop a planned “new city” at Pyin Oo Lwin, about two hours from Mandalay. The Yangon projects include the Korea Myanmar Industrial Complex in Hlegu Township, located on 555 acres of land and expected to cost $110 million. A second project, Eco Green City also in Hlegu Township, is a joint venture between the Ministry and Alliance Star and will include low-cost housing, hospitals and hotel zones, at an estimated cost of $2 billion. The third development, named Ayarwun-Yadanar Smart District Project, is at Dagon Seikkan Township, and will be between the Ministry and Shwe Taung, at a cost of $185.7 million for a housing development.
Upcoming Events
- No events
- all events
Highlights
Terminals, ports, logistics, liner operations disrupted
German containerline Hapag Lloyd has announced a decision to temporarily suspend cargo bookings into Myanmar …Facebook, Instagram ban military and related pages with immediate effect
In a February 24th update to its February 11th statement, Facebook through its Director of …Luxury Japanese real-estate complex called out for funding military
Despite distancing itself from other major Western states imposing sanctions on military-linked individuals and entities, …
Myanmar in the Media
- Thai PM meets Myanmar junta chiefSource: Bangkok Post Top StoriesNovember 7, 20241 day ago
- China pledges support for Myanmar’s political transitionSource: Voice of America East AsiaNovember 7, 20241 day ago
- 2 million at risk of starvation in Myanmar state amid ‘total economic collapse’Source: GuardianNovember 7, 20241 day ago
- China’s premier vows support for Myanmar in junta chief meetingSource: Bangkok Post Recent StoriesNovember 7, 20241 day ago
Thura NewsViews
Myanmar’s most widely read newsletter on the country’s politics, economy and businesses brought to you by Thura Swiss