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JOIN Supports the Urban Development Project -Landmark Project- in Central Yangon

Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN, headquartered in Tokyo, President & CEO: Takuma Hatano) has received approval from the Ministry of Land, Infrastructure, Transport and Tourism following its decision to invest US$20 million (with the potential to invest up to a maximum of US$40 million) in order to participate in the mixed-use complex urban development of the Landmark Project in central Yangon of Myanmar together with Mitsubishi Corporation (MC, headquartered in Tokyo, President & CEO: Takehiko Kakiuchi) and Mitsubishi Estate Co., Ltd. (ME, headquartered in Tokyo, President & CEO: Hirotaka Sugiyama). This is the first urban development project for JOIN to invest in.

This project is an investment of urban development by the Japan Group formed by MC, ME and JOIN jointly funded by SPA Group※. The project entails construction and operation of the mixed-use complex Landmark Project that is located near downtown Yangon’s Central Railway Station, an area that is similar to the business and commercial districts of Marunouchi in Tokyo, Japan. Additionally, international financial institutions such as the Asian Development Bank (ADB) and the International Finance Corporation (IFC) are also planning to invest and lend in the project.

※SPA Group: Serge Pun & Association Ltd. is a major conglomerate that mainly invests in real estate development, financial services, automobiles, healthcare, and tourist sectors etc. in Myanmar.

The development of the mixed-use complex aims to respond to the shortage of supply in offices, hotels and serviced apartments due to Myanmar’s rapidly growing economy and to become a symbolic landmark for Yangon. The project will proceed forward taking advantage of Japan’s expertise and promote the development of the Yangon city in Myanmar. In addition, the transfer of skills and know-how for the operation of Japan's mixed-use complex can contribute to the development of local human resource. Furthermore, the enhanced cooperation with ADB and IFC should lead to expand business opportunities for Japanese companies in Myanmar. We hope that by increasing the brand power of Japan’s urban development capability will encourage Japanese companies to do business in Myanmar.

JOIN Supports the Urban Development Project -Landmark Project- in Central Yangon（488/KB）