Yoma Strategic Holdings and First Myanmar Investments Co. (FMI) recently announced the launch of Yoma Land, which, moving forward, will hold both companies real estate assets. 

Yoma Land's managing director, Cyrus Pun, is expanding beyond high-end luxury properties in an effort to promote home ownership among Myanmar's mass market.

Representing a new division under Yoma Strategic Holdings, Yoma Land will umbrella the following entities:

• Pun Hlaing Estate
• Star City
• Yoma Central & The Peninsula Residences

Pun explained that the move to unite all real estate projects under a single brand was in the hope to make the brand more identifiable as a serious real estate developer.

The launch of Yoma Land also pushes the firm towards a promotion of home ownership in a fast growing Myanmar by expanding operations into the mass property market.

Going forward, Pun explained the plan will include the development of low-cost housing projects, and in doing so, allow the company access to a larger portion of the Myanmar population.

With a strong connection to Yoma Bank (controlled by FMI, and the sister company of Yoma Strategic), Yoma Land will have the ability to bring a larger pool of financing options to potential home buyers, helping them to better afford new homes. 

Yoma Land’s push into the mass market, comes after units of The Peninsula Residences Yangon went on sale in March. The luxury project is being developed on a 10-acre site in downtown Yangon as part of the $700 million Yoma Central mixed development project, which broke ground in February last year. 

The Peninsula Residences Yangon, which will include 96 residential units, is expected to be complete in 2021.

The move will also position the company as a property developer across each segment of the property market, from luxury units at The Peninsular Residences Yangon, upscale townhouses and condominium units at Pun Hlaing Estate and StarCity to low cost housing projects in the future, Mr Pun said.

Source: Strategic Holdings Limited, First Myanmar Investment Co, Myanmar Times 

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