Yoma Land, a subsidiary of Yoma Strategic Holdings, will add two high-value projects to its Yangon real estate empire: a commercial expansion of the Thanlyin-based Star City and a new residential site elsewhere in the city.

The Star City expansion, called Star Hub, will be a 290,000 square foot office space focusing on long-term tenants, the company said. Star City was designed to be something of an oasis from the city for upper class residents, featuring high-end apartments, retail and education. Star Hub aims to further help Star City clients live, shop and work in the same place. “With the pandemic, the importance of the environment where you live, work or invest has been magnified significantly,” Serge Pun, chairman of Yoma Strategic, said in a statement.

The new residential development will be for the City Loft brand, which focuses on the “underserved middle-income population,” as the company described it. Pun explained that the new City Loft project was inspired by the success of its original site, City Loft @ Star City. “The development of a second City Loft development allows us to expand our coverage in Yangon to cater to this group of buyers who are looking to live close to their places of work.”

Yoma Strategic recently reported an increased net loss for the previous fiscal year, a topic covered in greater detail in this newsletter. However, its real estate development segment remains its biggest earner, accounting for more than 30% of its annual revenue last year, according to The Business Times.