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Thursday, November 29, 2012

Shangri-La plans to complete $100m commercial complex in Yangon by 2015

Shangri-La plans to complete $100m commercial complex in Yangon by 2015

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The construction site of the Traders Square Commericial Complex seen on November 14
(Photo - Nay Myo Tun/EMG)

About US$100 million will be invested to build the Traders Square Commercial Complex near the Traders Hotel in downtown Yangon, an official from the Hong Kong-based Shangri-La Hotels and Resorts says.

A stake driving ceremony took place on November 14 and the construction is expected to finish by 2015.

"The project also includes a parking lot for over 600 cars. Upon completion, the space problem for offices and others can be solved," Myint Swe, Yangon Region chief minister said at the ceremony.

Traders Square Commercial Complex will have a three-deck basement for car parking. Shangri-La has plans to build more hotels in other cities such as Mandalay and Bagan. It opened the Traders Hotel in Yangon in 1996.

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