Home Insider Insider News HAGL Myanmar and City Mart Holdings Sign MOU

HAGL Myanmar and City Mart Holdings Sign MOU

Hoang Anh Gia Lai and City Mart Holdings have signed a memorandum of understanding (MOU) to develop the Ocean Supercenter at Phase 2 of HAGL Project at Kabaraye Pagoda Road. The Managing director of HAGL Myanmar, Cao Duy Thinh and the Co-CEO of City Mart Holding, Soe Moe Thu signed the MOU on behalf of respective parties. The MOU established the framework for a partnership between two companies to develop the hypermarket under the brand name, Ocean supercenter. Cao Duy Thinh, Managing Director of HAGL said “Signing MOU with City Mart is part of HAGL’s objective to bring perfect convenience and benefits to the residents and visitors of the project in the near future. We are continually working to add more value to phase 2. “Our new shopping centre of phase 2, will feature 5 stories of fully functional commercial space with international brands, hypermarket, department stores, food court and cinema to meet the lifestyle requirement of the residents and visitors” he added.

Soe Moe Thu, the Co-CEO of City Mart Holding express thanks to HAGL for choosing City Mart as partner to develop the hypermarket in the new project. Ocean Supermarket under City Mart Holdings was the first hypermarket to open in Myanmar in 2006. There are 12 Ocean centers around the countries including in Yangon, Mandalay, and Nay Pyi Taw. HAGL has already started its second phase of construction, which comprises of two office towers, a new shopping center, service apartments, three residential apartment towers, known as the Lake Suites. The first phase of project was completed in 2015.