The largest Malaysian firm, Berjaya Land Berhad, wins a tender for a proposed development project in Yangon

Berjaya Land Berhad, a subsidiary of Berjaya Corporation Berhad, one of the largest conglomerates in Malaysia, has won a tender for a proposed development project in Yangon.

Yangon Region Chief Minister U Phyo Min Thein announced this during the  Malaysia-Myanmar Connect event held on August 30.

In a filing with the Malaysian stock exchange Bursa Malaysia, Berjaya Land said that the contract awarded by the Yangon Region government involves a public housing and mixed-development project on 74.05 hectares of land located along Myanandar Road and Shweli Road, Dagon Seikkan Township, Yangon, with an estimated gross development value of approximately RM2.63 billion (K941.8 billion).

“The development includes affordable housing, mid- to high-end condominiums, shop houses, retail spaces, farmer’s market, community hall, schools and infrastructure, to be built in three phases.

“Berjaya Land will announce the details of the proposed development once the group enters into the definitive agreements with the relevant parties,” Berjaya said in its statement to Bursa Malaysia.

U Phyo Min Thein said the public-housing portion of the Dagon Seikkan Smart City District project is expected to provide homes for 30,000 civil servants expected to retire next year.

The smart-city project initially started as a government effort, but a decision was made to involve the private sector to speed up the project, he said, adding that the public housing portion involves quarters of staff from the Ministry of Construction. – Translated

(The Myanmar Times: https://www.mmtimes.com/news/malaysian-firm-wins-smart-city-project-yangon.html )

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