Yoma plans expansion into Myanmar

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Singapore-listed property developer Yoma Strategic Holdings has announced plans to acquire the rights to develop an area called Star City, located six miles from Yangon in Myanmar.

According to a report by The Business Times, the group had earlier said that its wholly-owned unit had signed a first right of refusal deed with Myanmar’s Serge Pun & Associates for the development rights connected to Star City.

Yoma noted that it is now an appropriate time to pursue the rights. However, the terms of the acquisition have not been made.

The company plans to develop over 9,000 units of residential properties and apartment blocks, as well as commercial and shopping areas covering approximately 135 acres.

Located next to Pun Hlaing Links golf course, the development will have 24-hour security, cleaning services, a substation to provide 24-hour electricity to all common areas and a professional estate management system.

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