Malaysian property developer Berjaya Land will start building smart, affordable homes in Yangon in January next year, according to chief executive Datuk Pee Kang Seng.


Valued at US$624 million, the project will be developed across 74 hectares of land in Yangon and take place in three phases over six years, Mr Pee was quoted by the Malaysian media as saying. He was speaking on the sidelines of the Malaysia-Myanmar Connect seminar in Yangon last week.

Mr Pee said the project will comprise 10,000 residential units targeting the affordable housing segment of the market, but will also have a commercial segment with about 1.2 million square feet of retail space. Berjaya Land is also inviting entities like hospitals and international schools to take up space.

This is the first project by Berjaya Land on a joint venture basis with the government.


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