Myanmar licenses US$300 mil Vietnam project

(VOV) - The Myanmar Investment Commission has granted an investment license to a US$300 million housing project to Hoang Anh Housing Development and Construction Joint Stock Company (HAGL Land).

The company will build a trade centre-hotel-apartment complex called Hoang Anh Gia Lai Myanmar Centre on an area of 8 hectares in the former capital city of Yangon.

HAGL Land leaders said that after a long time for negotiations, legal procedures have been completed and land clearance has been carried out.

The project is divided into two phases, with the first to be implemented within three years, focusing on building a trade centre, offices for lease and a five-star hotel. In the second phase, a residential area and the second office block will take shape in three to four years.

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