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Keppel Land beefs up hospitality business in Myanmar
HOMEGROWN developer Keppel Land has expanded its hospitality footprint in Myanmar, with the topping out of Junction City Tower in Yangon on Thursday and the opening of an extension wing at Sedona Hotel Yangon on Wednesday.
The developer holds a 40 per cent stake in Junction City Tower, having invested US$47.4 million in 2014 through a joint venture with major Myanmar construction firm Shwe Taung Group for the project.
The 23-storey tower, located in Yangon's central business district, has a net lettable area of about 34,000 square metres. It is part of the Junction City mixed-use development, which comprises of the five-star Pan Pacific Hotel, a shopping centre as well as residential towers.
Meanwhile, the new 29-storey, 431-room Inya Wing at Sedona Hotel Yangon "will cater to discerning business and leisure travellers to the country", Keppel Land said.
The total inventory of rooms under the group's hospitality arm Sedona in Myanmar now stands at over 1,000 rooms.
Said Keppel Land chief executive Ang Wee Gee: "We remain committed to participating in and contributing to the growth of Myanmar, and are confident that our developments will meet the growing needs of the local and international business communities."