Yoma pushes ahead with Landmark deal
Transaction based on existing lease as tenure extension pending approval
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Anita Gabriel
TIRED of waiting for the lease extension for two plots of land in Yangon which Yoma Strategic plans to acquire, the Myanmar-focused firm has opted to go ahead with the deal on the existing lease.
The real estate developer said yesterday that it has decided to proceed with the Landmark Development by acquiring the existing leases on two plots of land spanning 4.4 hectares in downtown Yangon while it waits for the new lease extension.
"Yoma is keen to proceed with the redevelopment of the sites. Securing the sites with a shorter lease term initially is the best way to keep the momentum going for the project which is attracting a significant amount of attention in the local market," the company said.
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