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.
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