Union Minister U Khin Maung Cho (centre) witnesses the signing of land lease agreement. Photo: mna
Myanma Pharmaceutical Industrial Enterprise-MPIE of the Ministry of Industry and NSKRE Residence (Myanmar) Co Ltd signed an agreement yesterday to build a high-rise structure on the land owned by MPIE in Tamway.
The building will be constructed with the build-operate-transfer (BOT) system and it is set to include 230 apartments, fitness centre, minimart, restaurant, business offices, car parking.
The land lease agreement was signed by U Ko Ko Aung, Managing Director of MPIE and Mr. Hirosato Fukimbara, Managing Director of NSKRE Residence (Myanmar) Co Ltd, in the presence of Union Minister for Industry U Khin Maung Cho.
The signing ceremony came after the two parties received permit from Myanmar Investment Commission which gave a permit of 50-year land lease.
NSKRE Residence (Myanmar) Co Ltd is a consortium of two Myanmar companies namely Mann Myanmar Family Ltd and Asia Business Solution Co Ltd and Japanese company Nippon Steel Kowa Real Estate.
Thi Thi Min
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