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FINWIRES

Yoma Strategic Forms JV to Develop Myanmar Residential Project

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Yoma Strategic (SGX:Z59) through subsidiary, Yoma Development Group, is expected to enter into a joint venture with Yangon Nominees to develop the Moe Ma Kha Garden Residence project in Myanmar, according to a Thursday filing with the Singapore Exchange.

The property and financial services company will work on the project which comprises around 10.72 acres of land and will consist of 56 premium landed residential units, developed in two phases.

The parties have established a joint venture company in Myanmar for this purpose, each holding a 50% stake.

Total acquisition and estimated development costs are around 198.6 billion Myanmar kyat.

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