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Myanmar releases buildings for hotel development

posted Jan 19, 2012, 2:12 AM by Dong Travel   [ updated Jan 19, 2012, 2:12 AM by Mickey Dong Hoang Thinh ]
Traders-Hotel-Yangon-Building
The Myanmar Investment Commission (MIC) has put four buildings in Yangon up for tender in a bid to ease the capital’s shortage of hotel rooms.
 
The properties which have been made available for conversion into hotels include the Yangon Region Government office on Strand Road, an empty land parcel on the corner of Pyidaungsu Yeiktha and Pyay Road, a government housing complex on the junction of Ahlone Road and Khayaypin Road, and the five-storey Myanma Railway building on Merchant Street.
 
The tender, which closes on January 31, is open to both foreign and local companies. While details have not been released, the properties are likely to be leased for 20-30 years.
 
“We have received a lot of applications from both local and foreign companies, especially from around the region, to convert these properties into hotels,” said a spokesperson from MIC.
 
“We still need to negotiate with the different ministries, such as Hotel and Tourism, Home Affairs and Railways. After that, we will give approval to possible companies.”
 
Meanwhile, two historically significant buildings – the Secretariat and High Court – are due to put up for tender as potential museums, while the former Foreign Minister’s office on Pyay Road will be made available for conversion into serviced apartments.

Source: TTGA
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