Hoang Anh Gia Lai Group expands investment in Myanmar

HAGL Chairman Doan Nguyen Duc said the construction covers 28-storey block buildings on a space area of 130,000 sq.m capable of providing 1,134 apartments and office buildings for lease.

The first phase included a commercial center, and a two 27-storey building, which were constructed in 2013 and officially debuted late last year.

The Myanmar Government leased the 16-acre land site in the heart of Yangon to the group for 70 years to develop this project with total investment of US$440 million.

Once the centre is placed into operation, it promises to become an economic and cultural hub of Vietnam in Myanmar which will likely meet the increasing demand for office space for rent, hotels, and shopping malls in Myanmar and generate jobs for around 2,500 local people and more than 200 Vietnamese people.