Development project in Myanmar
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.[1] 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.[1] The development will eventually encompass 2,440,000 square feet (227,000 m2).[2] Groundbreaking was held on 16 January 2017.[3] Following the 2021 Myanmar coup d'état, construction of the site, including a hotel, was paused in June 2021.[4][5]
The build–operate–transfer project is being developed on land owned by Myanma Railways.[6] 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%).[6]
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.[6] The developers nonetheless gutted the building's interior, leaving only the external facade intact.[6] Further work in July 2018 caused the collapse of an exterior wall.[6] The developer's approach to conservation has been criticized by the Yangon Heritage Trust.[6]
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.[7] In January 2021, hundreds of Yoma Central construction workers protested the late payment of wages and unpaid social security allowances.[8]
See also
References
External links