City Mart, HAGL ink deal on Myanmar Plaza expansion

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. 

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