Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) has announced it will be investing around JPY 5.7 billion in the Yankin Project in Myanmar, in collaboration with Kajima Corporation.
Planned for completion in 2024, the new urban development project is located in the Yankin area, about 5 km northwest of Yangon Central Station. It will provide offices, hotels, long-term-stay hotels and other commercial facilities. The site area is approximately 2.7 ha, with a total floor area of about 175,000 sq m.
According to JOIN, the project “will contribute to the creation of prime urban development asset and economic growth for Myanmar through an integrated quality management, which ranges from transfer of technology to government officials, engineers, and students through training to management of facility and operation utilising Japan’s advanced environmental technologies.”
The project is also expected to contribute to the regional community by facilitating a bus bay in the project site, JOIN said, thereby alleviating traffic congestion of adjacent public road, building one-stop service centre and a children’s library, taking disaster measures and operating community buses.