By FRONTIER STAFF
YANGON — Vietnam’s Hoang Anh Gia Lai Group and Myanmar retail giant City Mart Holdings have inked an agreement to open a new Ocean Supercenter by 2019, as the second phase of the Myanmar Plaza development in Yankin gets underway.
The 94,000 square-metre development, which includes a new shopping centre, two office towers and five residential buildings, will be built in stages over the next two years.
We believe this new development will be a phenomenal success just as the first phase was,” City Mart CEO U Soe Moe Thu told reporters at a signing ceremony inside the Melia Hotel on Tuesday.
The first phase of HAGL’s Myanmar Plaza development opened in December 2015, with City Mart’s boutique supermarket brand Marketplace an anchor tenant.