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Yoma Central

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Development project in Myanmar
Yoma Central
LocationDowntown Yangon, Myanmar
Coordinates16°46′49″N 96°09′28″E / 16.780222251968844°N 96.15784036135761°E / 16.780222251968844; 96.15784036135761
Statusunder consturstion
Groundbreaking2017,jan,16
Estimated completion2026
Demolished2 old FMI center buildings
Websiteyomacentral.com
Companies
ArchitectCecil Balmond OBE
DeveloperYoma Land
Technical details
Cost700$million
Buildings4towers and 1three storied building
Size9.5 acres (3.8 ha)
Leasable area2,440,000 square feet (227,000 m)
No. of residents112apartments at peninsula resident

Yoma Central is a major mixed-use development project in Downtown Yangon, Myanmar, located at the intersection of Bogyoke Aung San Road and Sule Pagoda Road, beside Bogyoke Aung San Market. The development entails a number of buildings, including the historic Myanma Railway headquarters first built in 1877, two new office towers, luxury residencies, and a business hotel. The development will eventually encompass 2,440,000 square feet (227,000 m). Groundbreaking was held on 16 January 2017. Following the 2021 Myanmar coup d'état, construction of the site, including a hotel, was paused in June 2021.

The build–operate–transfer project is being developed on land owned by Myanma Railways. The project is being developed by a joint venture comprising Yoma Strategic (48%), FMI (12%), Mitsubishi (30%), the Asian Development Bank (5%), and the International Finance Corporation (5%).

Controversies

The focal point of Yoma Central, the former Myanma Railways headquarters, is listed on Yangon City Heritage List, meaning it cannot be modified or demolished without approval. The developers nonetheless gutted the building's interior, leaving only the external facade intact. Further work in July 2018 caused the collapse of an exterior wall. The developer's approach to conservation has been criticized by the Yangon Heritage Trust.

Yoma Central has also been the source of ongoing labor disputes. In March 2020, construction workers at the site protested the lack of paid leave during the Thingyan holiday. In January 2021, hundreds of Yoma Central construction workers protested the late payment of wages and unpaid social security allowances.

See also

References

  1. ^ "Yoma Central". Sedgwick Richardson. Retrieved 2021-01-19.
  2. "Yoma Central and The Peninsula Yangon to be built by Construction Giants, Bouygues Construction and Taisei". AsiaOne. 2017-11-30. Retrieved 2021-01-19.
  3. "Yoma Central breaks ground in downtown Yangon". Mizzima Myanmar News and Insight. Retrieved 2021-01-19.
  4. "Peninsula Hotels' Myanmar project to resume depending on 'economics:' CEO". Nikkei Asia. Retrieved 2023-12-30.
  5. "Myanmar's Yoma to restart Yangon project by year-end". Nikkei Asia. Retrieved 2023-12-30.
  6. ^ "Myanma Railways seeks consultants to supervise Yoma Central". Frontier Myanmar. 2019-10-31. Retrieved 2021-01-19.
  7. "Workers protest at Yoma Central construction site". The Myanmar Times. 2020-03-31. Retrieved 2021-01-19.
  8. "Myanmar Workers at International Joint-Venture Construction Site Strike for Unpaid Wages". The Irrawaddy. 2021-01-19. Retrieved 2021-01-19.

External links

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