News

PRESS RELEASE
  
Yangon, Myanmar – October 24, 2019 – Marriott International Inc (NASDAQ: MAR) today announced the signing of a landmark agreement with Myanmar’s leading property developer, Yoma Land, to bring the Westin brand to Myanmar in late 2021. Under the agreement, the new-build Westin Yangon will feature 281 rooms and suites alongside 90 premium serviced apartments with spectacular views overlooking downtown Yangon and the iconic Shwedagon Pagoda.
 
The 26-story hotel is being planned as a part of the Yoma Central integrated real estate development which has been designed by acclaimed architect Cecil Balmond OBE. Upon completion in 2021, Yoma Central expects to be anchored by the restored former headquarters of the Burma Railway Company, one of Yangon’s oldest and most cherished colonial-era buildings. Yoma Central plans to also feature two Grade A office towers and a collection of luxury private homes, all of which will be connected seamlessly by a retail podium.
 
“Given its local expertise and strategic vision for development in Myanmar, Yoma Land is an ideal partner for debuting the Westin brand in this market,” said Paul Foskey, Chief Development Officer, Asia Pacific, Marriott International. “The signing of The Westin Yangon marks a significant milestone in Marriott International’s continued growth in Southeast Asia and we look forward to partnering with Yoma Land in building on this momentum.”
 
Currently, Westin has more than 220 hotels in nearly 40 countries and territories. Westin Hotels & Resorts is widely renowned as hospitality’s global leader in wellness for more than a decade. The brand empowers guests to transcend the rigors of travel while on the road through hotel offerings and programming that bring to life the brand’s Six Pillars of Well-being: Sleep Well, Eat Well, Move Well, Feel Well, Work Well, and Play Well. 
 
“It’s an honor to work with Marriott International to introduce its Westin Hotels and Resorts brand to Myanmar. The Westin Yangon will be a great place for leisure and business travelers alike who will be able to enjoy the hotel’s world-class services and facilities. This is a significant moment in the Yoma Land strategy of seeking out the very best of international partners to reinforce our position as a leading developer in Myanmar,” said Stephen Purvis, Head of Yoma Land.
 
Bringing the iconic Westin brand and its unique wellness philosophy to Myanmar, the hotel will feature signature Westin services and amenities that empower guests to recharge and enhance their well-being while travelling. From the fully equipped WestinWORKOUT® Fitness Studio, the RunWESTIN™ program, to pampering themselves at The Heavenly Spa By Westin™, the Westin Yangon is set to be a leader in wellness in the city. Guests can also pack light and stay fit while traveling with the Westin Gear Lending program, featuring New Balance® clothing and shoes delivered straight to their rooms.
 
The hotel is expected to offer a thoughtfully curated array of dining experiences at Seasonal Taste, the all-day dining outlet, two specialty restaurants, as well as the lobby lounge, pool bar and rooftop bar. These outlets help travelers maintain healthy eating habits by encompassing Westin’s delicious and nutritious Eat Well menu and Crafted at Westin artisanal cocktail that are infused with local natural ingredients and fresh local flavours. The business community can expect to enjoy four ultra-modern meeting rooms, a board room and 2,470 square meters of conference and event space.
 
The Westin Yangon is strategically located close to the city’s attractions, including Sule Pagoda, Chinatown, Merchant Street and historical central business district. The area is located approximately 18 kilometers from Yangon International Airport.
 
To learn more about the Westin Yangon, please visit: www.Westin.com
 
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About Yoma Central
Yoma Central is an integrated real estate development with a total gross floor area of approximately 2.44 million square feet. Designed by prominent architect, Cecil Balmond OBE, it will feature luxury residences, two Grade A office towers, a business hotel, and serviced apartments, all of which are connected seamlessly by a retail podium. The project comes under Meeyahta Development Limited, a joint-venture between Yoma Strategic (48%), First Myanmar Investment Public Company Limited (12%) (“FMI”), the Mitsubishi Companies[1] (30%), the International Finance Corporation (5%) (“IFC”) and the Asian Development Bank (5%) (“ADB”).
 
About Westin Hotels & Resorts
Westin Hotels & Resorts, hospitality’s global leader in wellness for more than a decade, empowers guests to transcend the rigors of travel while on the road through the brand’s Six Pillars of Well-being: Sleep Well, Eat Well, Move Well, Feel Well, Work Well, and Play Well.  At 225 hotels and resorts in nearly 40 countries and territories, guests can experience wellness offerings, including the brand’s iconic and award-winning Heavenly Bed; game-changing gear lending program, TRX fitness equipment in signature WestinWORKOUT™ Fitness Studios; delicious and nutritious menu offerings, and more.  Stay connected to Westin: @westin on Twitter and Instagram and facebook.com/Westin. Westin is proud to participate in Marriott Bonvoy, the new name of Marriott’s travel program replacing Marriott Rewards®, The Ritz- Carlton Rewards®, and Starwood Preferred Guest® (SPG). The program offers members an extraordinary portfolio of global brands, experiences on Marriott Bonvoy Moments and unparalleled benefits including earning points toward free hotel stays and nights toward Elite status recognition. To enroll for free or for more information about the program, visit MarriottBonvoy.marriott.com.
 
About Yoma Land 
With a mission "to Build Better Communities for the Future of Myanmar", Yoma Land is a leading property developer and landlord in Myanmar. Acting as the umbrella brand for the Real Estate businesses of Singapore Securities Exchange Trading Limited listed Yoma Strategic Holdings Ltd. and Yangon Stock Exchange listed First Myanmar Investment Public Company Limited, Yoma Land focuses on township projects and aims to build communities that are attractive, safe and vibrant. Yoma Land currently has three large-scale property developments comprising two residential projects – StarCity, and Pun Hlaing Estate – and a mixed-used development – Yoma Central and The Peninsula Yangon. These three key projects aim to transform and shape Yangon’s city landscape through an emphasis on innovative designs, building standards and product range. 
 

 

For enquiries, please contact:
Yoma Group Analyst Contact: 
Ms Jane Kwa, Tel: (65) 9759 2602 or (95) 09 750120 930 Email: janekwa@yoma.com.mm 

Yoma Group Media Contact:
Ms Sylvia Saw McKaige, Tel: (65) 9476 2581 Email: sylviamckaige@yoma.com.mm 
Ms Thiri Yee Mon, Tel: (95) 9517 9646 Email: thiri@yoma.com.mm 
Mr Joshua Hughes, Tel: (95) 9764 9268 96 Email: joshuahughes@yoma.com.mm
 
Cogent Communications for Yoma Group:
Mr Gerald Woon, Tel: (65) 6704 9268, Mob: (65) 9694 8364 Email: woon@cogentcomms.com
Ms Candy Soh, Tel: (65) 6704 9284, Mob: (65) 9816 8391 Email: candysoh@cogentcomms.com
 
Marriott International Inc Media Contact:
Daryl Pan, Email: Daryl.Pan@marriott.com

MARRIOTT INTERNATIONAL SIGNS AGREEMENT WITH YOMA LAND TO BRING THE WELLNESS-CENTRIC WESTIN BRAND TO MYANMAR IN 2021
Leading hospitality brand with six pillars of well-being expected to debut in Myanmar’s capital
with the 281-room Westin Yangon 

Forbes

Melvyn Pun is the CEO of Yoma Strategic Holdings, a Singapore-listed outfit with real estate, consumer businesses, F&B and financial services, all focused on Myanmar. He is the son of Serge Pun, who controls Yangon-listed First Myanmar Investment. He's also entered the equipment leasing business and distributes international car brands. His most recent venture into fintech aims to serve the vast unbanked population in Myanmar.

https://www.forbes.com/video/6093923663001/

DNA Of Success: Melvyn Pun Seeks Active Role In Nation Building

Press Release

Yangon / Myanmar, 23 September: FMI Garden Development Ltd. (“FMI Garden Development”), the developer of FMI City aka. Padaetharbin Myo Taw, Myanmar’s first gated community housing development in Yangon, announces the completion of the project. The estate management of the development will be handed over to the Department of Urban and Housing Development (“DUHD”)1 under the Ministry of Construction with effect on 30 September 2019.  

 

“In 1995, when FMI Garden Development first laid the foundation stones of FMI City, the place was just a paddy field. Over the years, together with our landlord and partner, DUHD, we built FMI City to become a first of its kind thriving upscale gated community in Yangon and a benchmark for quality housing development in Myanmar in the 1990s” said Daw Le Le Win, Managing Director of FMI City.  

 

FMI City is built on 465 acres of rice paddy land and is located nine miles from the centre of Yangon and six miles from Yangon International Airport. Today, it comprises nearly 2,000 properties with projects such as Finger Lakes, Orchid Gardens, Cherry Avenue and Lake View Villas. It houses nearly 8,000 residents, and boasts its own sports and recreation centre, supermarket, wet market, bank, food stalls and a park, all of which were unprecedented development concepts in the 1990s.

 

“We are happy and proud to have completed the development of FMI City, a pioneer of satellite city development in Myanmar. FMI Garden Development’s management team has taken care of post development estate management duties for 20 years and the time has come to hand back management of the estate to the DHUD. We would like to thank all our past and current owners for the support they have given, and to the management and employees for their dedicated work over the years. Whilst the development continues to be known as “FMI City”, we will no longer manage the estate,” said U Tun Tun, Chief Operating Officer at First Myanmar Investment Public Co., Ltd. (“FMI”). FMI Garden Development is an associate entity of FMI, “We have learned a great deal from the experience of developing the first-ever gated residential community in Myanmar and will strive to do even better with future developments.”

 

U Khin Zaw, Deputy Director at the Department of Urban and Housing Development said, “We are very proud to be part of this journey with FMI Garden Development in the building of Myanmar’s first gated community. We look forward to taking the reins in managing the estate together with respective city municipal.”  

​1 DUHD is formerly known as Department of Human Settlement and Housing Development (DHSHD) or Housing Board. 

About First Myanmar Investment


First Myanmar Investment Co., Ltd. (FMI) is one of Myanmar's largest public companies with over 8,000 shareholders and an unbroken track record of profitability since inception in 1992. FMI’s current focus is on its “three pillar” strategy of investing in the Financial Services, Real Estate and Healthcare sectors. FMI became the first company to be listed on the Yangon Stock Exchange on 25, March 2016.

 

For more information, please contact Yoma Group Media contact: 

Ms. Sylvia Saw McKaige, Tel: (65) 9476 2581 Email: sylviamckaige@yoma.com.mm 

Ms. Thiri Yee Mon, Tel: (95) 9517 9646 Email: thiri@yoma.com.mm 

Mr. Joshua Hughes, Tel: (95) 9517 9646 Email: joshuahughes@yoma.com.mm 

FMI City

© 2019 by Yoma Land. All rights reserved.