Zaykabar, Chinese Company to jointly develop Yangon New World project

Hunan province Vice Governor He Baoxiang signs on the vinyl sheet depicting the Yangon New World project. Photo: Min Thit (MNA)
Hunan province Vice Governor He Baoxiang signs on the vinyl sheet depicting the Yangon New World project. Photo: Min Thit (MNA)

Hunan province Vice Governor He Baoxiang and party yesterday inspected Yangon New World project jointly developed by China State Construction Engineering Cooperation and Zaykabar Company, with an investment US$ 500 million.
Hunan province Vice Governor He Baoxiang and party first signed on the vinyl sheet depicting the Yangon New World project and then Chairman of Zaykabar Company Dr. Khin Shwe explained about the status of the project. “China State Construction Engineering Cooperation is a company that is at the number one position in China’s construction industry. It is developing the Yangon New World project in cooperation with Zaykabar Company. 40 percent of the investment is from Zaykabar while 60 percent is from the Chinese company,” said Zaykabar Chairman Dr. Khin Shwe. Yangon New World project is on 14 acres of land in Bahan Township, Yangon where the old Mya Yeik Nyo Hotel was situated. It will become the biggest project in Yangon that includes a 5 Star hotel, apartments, offices and shopping centers. Yangon New World project jointly developed by China State Construction Engineering Corporation and Zaykabar Company, will include high-rise buildings permitted by Yangon City Development Committee (YCDC). According to Zaykabar Company, the project will be implemented as soon as permission from Myanmar Investment Commission is obtained.—Min Thit (MNA)

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