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NEW UPDATES Asean Affairs   16 February  2015  




Rowsley to invest US$275 million in Yangon real estate project

Singapore-listed Rowsley Ltd, a real estate and investment firm part-owned by Singaporean billionaire Mr Peter Lim, has entered into an agreement with Vietnam's Hoang Anh Gia Lai Joint Stock Company or HAGL to jointly develop a mixed-use development in Yangon, according to the Straits Times on February 12.

The newspaper reports that Rowsley has just signed a heads of terms agreement on February 12 and will invest US$275 million [K275 billion] for a 50 percent stake in a company that wholly owns HAGL Myanmar Centre, one of the country's largest integrated projects with four office blocks, a five-star hotel, a retail mall, serviced apartments and residential apartments.

The centre will cover more than 73,000 square metres of land next to Inya Lake in Yangon and has a land lease term of 50 years. The first phase of the project is underway and the whole project it set to be fully completed in 2018.

HAGL will make further investments and will undertake the construction of the entire project.

The entire project is valued at US$550 million. The detailed terms and conditions for the joint venture are to be agreed in due course and subject to due diligence and regulatory approvals.



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AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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