Yoma Central
| Location | Downtown Yangon, Myanmar |
|---|---|
| Coordinates | 16°46′49″N 96°09′28″E / 16.780222251968844°N 96.15784036135761°E |
| Status | under consturstion |
| Groundbreaking | 2017,jan,16 |
| Estimated completion | 2026 |
| Demolished | 2 old FMI center buildings |
| Website | yomacentral |
| Companies | |
| Architect | Cecil Balmond OBE |
| Developer | Yoma Land |
| Technical details | |
| Cost | 700$million |
| Buildings | 4towers and 1three storied building |
| Size | 9.5 acres (3.8 ha) |
| Leasable area | 2,440,000 square feet (227,000 m2) |
| No. of residents | 112apartments at peninsula resident |
Yoma Central is a major mixed-use development project in Downtown Yangon, Myanmar, located at the intersection of Bogyoke Aung San Road and Sule Pagoda Road, beside Bogyoke Aung San Market.[1] The development entails a number of buildings, including the historic Myanma Railway headquarters first built in 1877, two new office towers, luxury residencies, and a business hotel.[1] The development will eventually encompass 2,440,000 square feet (227,000 m2).[2] Groundbreaking was held on 16 January 2017.[3] Following the 2021 Myanmar coup d'état, construction of the site, including a hotel, was paused in June 2021.[4][5]
The build–operate–transfer project is being developed on land owned by Myanma Railways.[6] The project is being developed by a joint venture comprising Yoma Strategic (48%), FMI (12%), Mitsubishi (30%), the Asian Development Bank (5%), and the International Finance Corporation (5%).[6]
Controversies
The focal point of Yoma Central, the former Myanma Railways headquarters, is listed on Yangon City Heritage List, meaning it cannot be modified or demolished without approval.[6] The developers nonetheless gutted the building's interior, leaving only the external facade intact.[6] Further work in July 2018 caused the collapse of an exterior wall.[6] The developer's approach to conservation has been criticized by the Yangon Heritage Trust.[6]
Yoma Central has also been the source of ongoing labor disputes. In March 2020, construction workers at the site protested the lack of paid leave during the Thingyan holiday.[7] In January 2021, hundreds of Yoma Central construction workers protested the late payment of wages and unpaid social security allowances.[8]
See also
References
- ^ a b "Yoma Central". Sedgwick Richardson. Retrieved 2021-01-19.
- ^ "Yoma Central and The Peninsula Yangon to be built by Construction Giants, Bouygues Construction and Taisei". AsiaOne. 2017-11-30. Retrieved 2021-01-19.
- ^ "Yoma Central breaks ground in downtown Yangon". Mizzima Myanmar News and Insight. Retrieved 2021-01-19.
- ^ "Peninsula Hotels' Myanmar project to resume depending on 'economics:' CEO". Nikkei Asia. Retrieved 2023-12-30.
- ^ "Myanmar's Yoma to restart Yangon project by year-end". Nikkei Asia. Retrieved 2023-12-30.
- ^ a b c d e f "Myanma Railways seeks consultants to supervise Yoma Central". Frontier Myanmar. 2019-10-31. Retrieved 2021-01-19.
- ^ "Workers protest at Yoma Central construction site". The Myanmar Times. 2020-03-31. Retrieved 2021-01-19.
- ^ "Myanmar Workers at International Joint-Venture Construction Site Strike for Unpaid Wages". The Irrawaddy. 2021-01-19. Retrieved 2021-01-19.