***Yoma in Deal With Hong Kong Firm for Luxury Hotel in Rangoon*** ====================== Burmese-owned conglomerate Yoma Strategic Holdings has signed another business deal, this time with the Hongkong and Shanghai Hotels company (HSH) to open a luxury Peninsula brand hotel in Rangoon. The two firms signed an agreement in Hong Kong to cooperate in acquiring and converting the famous colonial Burma Railways headquarters in the city’s central business district, said travel industry magazine TTR Weekly. “The agreement, subject to conditions and approval, will seek to redevelop and restore the heritage building, which dates from the 1880s and is one of the oldest existing colonial buildings in Rangoon,” the magazine reported. It’s not clear what stage the partnership is at in securing a lease or ownership of the protected building and no details of cost or development timetable were announced. The partnership was signed by HSH chief executive Clement Kwok and Singapore-based Yoma’s chairman, Serge Pun. “[Burma] is one of the world’s most exciting emerging markets and we see good potential in this market as a luxury travel and tourism destination,” Kwok said in a statement reported by TTR Weekly. Only days earlier, Yoma announced it had signed an agreement with ED&F Man, an international food commodities merchant based in London to develop a large coffee plantation in Burma. Yoma has business interests in real estate, agriculture, vehicles and tourism. Source : irrawaddy.org/ Property.mm https://facebook/Property.mm
Posted on: Mon, 17 Mar 2014 07:19:06 +0000
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