By Nikki De Guzman:
Singapore-listed Yoma Strategic Holdings through its wholly-owned subsidiary SPA Project Management, has inked a deal with Dragages Singapore – part of Bouygues Construction, to jointly build 1,043 residential units (pictured) in Zone B of Thanlyin Star City in Myanmar.
Yoma will own 40 percent of the joint venture vehicle, while Dragages Singapore will control the remaining 60 percent.
To be developed at a total cost of around US$94 million (S$116 million), construction works will begin by month’s end and is expected to last approximately 33 months.
The second of five development phases, Zone B comprises five residential blocks and various amenities integrated within the development.
Construction of the project is still subject to approval of the Myanmar government.
Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email email@example.com