On February 15, Singapore based Oxley Holdings announced that the Central Transport Development consortium including local company Min Dhama and China’s Sino Great Wall has selected as the “Preferred Bidder” for Central Railways Station Area Comprehensive Development project. Oxley said in an announcement, “the $ 2.5 billion project will cover a site area of 63.5 acres, with an intended development gross floor area of 1.09 million square meters. The Project will be a mixed development project comprising a new central transportation hub that integrates rail and mass transit, surrounded by amenities of housing and commerce”. The 63.5 acre project area is located east of Sule Pagoda, near Bogyoke Aung San Road and Bo Minyaung Road, Mingalartaung Nyunt townships.
The award of contract shall be subject to the completion of negotiations and legal arrangements. It will be one of the Myanmar largest property projects so far. On February 20, Central Transport Development Consortium (CTDC) released a press release and mention it is Myanmar’s first ever TOD (transitoriented development) project.
The mix-use development will also comprise six different zones to include a commercial district, towers, housing, business hotel and serviced apartments, a communal green park and a railway museum. The estimated construction period is eight years. Building the project will create 100,000 jobs opportunities for local workers.
Central Transport Development Consortium brings together the expertise of three companies. Min Dhama has a 40% share whereas Oxley Holdings and Sino Great Wall Company, cash has a 30% share.
Singapore based Oxley is listed on the Singapore. Exchange Securities Trading Limited (SGX-ST). The Group currently has a business presence across 12 geographical markets including Singapore, the United Kingdom (“UK”), Ireland, Cyprus, Australia, Cambodia, Malaysia, Indonesia, China, Japan, Vietnam and Myanmar.
Based in Beijing, China, Sino Great Wall was founded in 1984 and operates engineering project construction business mainly through international and domestic large-scale project contracting. It is also listed on the Shenzhen stock exchange
. Local construction company, Min Dhama, one of the 23 subsidiaries of Mottama Holdings, was founded by Yang Ho in 1997. Currently, it is operating 3 offices (Yangon, Nay Pyi Taw and Mandalay) in Myanmar and has overseas branch offices. The group has over 3,500 employees and more than 30,000 contract workers.
Yang Ho, Chairman and founder of Mottama said, ‘We are honored to be granted preferential negotiation rights for the Yangon Central Railways Station Area Comprehensive Development tender. It is a tremendous project that will create new opportunities for both local people and the business community. We believe that this project will become the primary international investment project contributing to Myanmar’s economy, attracting international investors and creating a new center of attraction for Yangon. Last