Mottama Holdings Limited has nine major projects in the pipeline, which is expected to be complete by 2022

Mottama Holdings Limited, a Yangon-based company owned by Myanmar-Chinese entrepreneur U Yang Ho, has nine major projects in the pipeline, valued at US$1 billion and expected to be all completed by 2022, according to the company’s announcement on June 15.

Established in 1997, Mottama’s nine projects cover residential apartments, office towers, shopping malls and public recreational centres.

There are four projects carried out with international partners: M Tower on Pyay Road, Min Residences on Mindhama Road, Mottama Centre and affordable housing project M Green Apartment in Yangon’s Mingaladon township.

The remaining five projects are domestic partnerships: an aquarium inside Kandawgyi Park, Harbour Trade Tower on Strand Road, HL tower on Pyay Road, Bonnamy Tower on Kyaik Wine Pagoda Road and Mottama Business Tower on Mindhama Road.

U Yang Ho, who now chairs Mottama, said the company focuses on the urban development in downtown Yangon. 

Six projects are currently under construction and three projects - Mottama Business Tower, Bonnamy Tower and M Green Apartment - are set to begin construction next year.

The most spectacular among the projects will be the $2.5 billion Yangon railway station project, which is set to be Myanmar’s largest joint venture investment project under the National League for Democracy-led government and which will take eight years to complete. In February, the Central Transport Development Consortium (CTDC) has been selected as the preferred bidder to redevelop the 25.7 hectares (63.5 acre) prime site around Yangon Central Railway Station in the city centre of Myanmar’s commercial capital. Mottama is part of the consortium. 

Min Dhama, one of 23 subsidiary companies of Mottama, has a 40 percent share, while Singapore-listed Oxley Holdings and Beijing-headquartered Sino Great Wall Company each have a 30pc share. The drafting of the investment agreement started in April.

Until late 2013, Mottama was known as Asia Metal Company, one of three companies sanctioned by the US Treasury Department on December 17, 2013 for its involvement with the Directorate of Defence Industries (DDI). The company was sanctioned for constructing buildings and supplying construction materials to a DDI factory. The sanctions were subsequently lifted since October 7, 2016.

This article was corrected at 18:15 and 18:40. (18/06/2018).

(The Myanmar Times: https://www.mmtimes.com/news/mottamas-yangon-ambition-spans-nine-projects.html )

​