Home MMBIZ News Keppel Land’s Sedona Hotel Extension to Complete by End-2015

Keppel Land’s Sedona Hotel Extension to Complete by End-2015

Keppel Land will add another 420 rooms to its Myanmar portfolio in a bid tap the surging demand from businesses and tourism in the country.

The property arm of the Singaporean conglomerate Keppel Group said it will expand its hospitality business with a new 29-storey Inya Wing at its Sedona Hotel Yangon.

The project is expected to be completed by end-2015, Keppel Land said.

Ang Wee Gee, CEO of Keppel Land, said as Myanmar enters into a phase of sustained economic growth, the property market in Yangon is poised to deliver healthy performance over the next few years.

“Myanmar continues to enjoy increasing tourist arrivals, with a forecast to reach 4.5 million in 2015 and 7.5 million in 2020. … we have expanded and refurbished our hotels to cater to the rising demand.”

According to the Ministry of Hotels and Tourism, a total of 3.05 million tourists arrived in Myanmar, which represented an increase of 49.5 percent from 2.04 million in 2013 and generated $1.14 billion in direct revenue.

Keppel Land, together with its partner Shwe Taung Group, is also constructing a 23-storey office tower, integrated into the mixed development of Junction City to fill the gap for Grade A office space in Yangon. The tower is expected to be completed in the first half of 2017, Ang said.

The 366-room Sedona Hotel Yangon opened in 1996, and was among the first international hotels established in Myanmar.

- Advertisment -

Must Read

Govt Extends Deadline for Taxes on Unassessed Income

အောက်တွင် မြန်မာလို ဖတ်ရှုနိုင်ပါသည် The Ministry of Planning and Finance issued an order on September 22 extending the deadline for tax payment on the unassessed income...