Vietnamese real estate group opens five-star hotel complex in Myanmar

By Dam Tuan   August 3, 2016 | 02:01 pm GMT+7

Hoang Anh Gia Lai is looking to expand regionally with this $440 million investment.

Vietnamese group Hoang Anh Gia Lai recently opened the five-star Melia Yangon in the HAGL Myanmar Center, the largest wholly foreign-invested real estate project in Myanmar.

On July 31, the luxury-appointed, 430-room hotel with great views Myanmar’s famous Golden Pagoda and Inya Lake was officially opened, according to the group’s official website.

The hotel is located in the group’s Myanmar Center, eight kilometers from downtown Yangon. The complex includes offices, a commercial center, residential apartments and the five-star hotel, and has total investment of $440 million, General Director of HAGL Group Vo Truong Son said at the opening ceremony.

Vietnamese Deputy Prime Minister Vu Duc Dam and senior officials from Myanmar, Laos and Cambodia also attended the ceremony.

vietnamese-real-estate-group-opens-five-star-hotel-complex-in-myanmar

The real estate project is one of the most modern buildings in Myanmar. Photo from trover.com/Hmyintoo

The project is divided into two stages of which the first includes two grade-A office towers, one shopping center and a five-star hotel, while the second consists of two more grade-A office towers and five residential buildings.

Operated by high-profile hotel chain Meliá Hotels International, one of Spain’s largest operators in the hotel and holiday resort sector, the five-star Meliá Yangon spreads across 2,000 square meters and boasts three luxury restaurants, a high-end gym, an outdoor swimming pool, two ball rooms and six conference rooms.

Myanmar’s Minister of Hotels and Tourism U Htay Aung said that HAGL’s Myanmar Center is the largest foreign-invested real estate project in the country at the moment.

Melia Hotels International Vice President for Asia Pacific Bernardo Cabot added that: "Melia Yangon represents a new milestone for our committed growth in Asia Pacific and we are eager to bring our most international brand to Myanmar. This outstanding hotel will boost our brand awareness within the region and I'm sure it will be the opening door to get into other destinations within the country."

Hoang Anh Gia Lai Group is one of Vietnam’s leading real estate companies, but started off life in the furniture business. It is currently focusing on the development of residential and commercial real estate in principal economic centers not only in Vietnam, but also other markets in the region including Laos, Thailand and Myanmar with an international expansion strategy.

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