Overwhelming interest for Yangon Railway Station plot

Yangon – More than 70 local and foreign companies have submitted their expression of interests to develop the land plot surrounding the Yangon Central Railway Station, according to Myanmar Railways.

An anonymous source from the tender scrutinising committee said that their bids would be shortlist and the result would be announced in the second week of this month.

Myanmar Railways, under the Ministry of Rail Transportation, invited bids for a mixed-use development project for the land spanning 63.622 acres or about 160 rai. The plot is tentatively designed to house high-rise hotels and commercial buildings. It is an essential part of Greater Yangon City development project.

It called for bids early 2015 but there was no winner. The second tender was announced in August.

Some of the foreign companies joining the first auction were Malaysian Resources Corp (MRCB), Lotte Asset Development, Ooredoo Myanmar, Yunnan Construction Engineering Group, China Harbour Engineering (CHEC), Mitsubishi Corp, and Fortune International Group. Among the local companies are Ayeyar Hin Tha Construction and Shwe Than Lwin Group.

Some bidders were joint ventures of local and foreign companies.

These companies submitted altogether 34 bids. Foreign companies joining the first tender were from various countries like Malaysia, Italy, South Korea, Qatar, France, Taiwan, Japan, China, Singapore, Canada and Vietnam.

Source: http://www.elevenmyanmar.com/business/overwhelming-interest-yangon-railway-station-plot