New Growth Projects
In response to changes in the global industry, POSCO DAEWOO is increasing investment in strategic real estate development by investing in hotels, for instance. It is also creating new engines of growth in strategic regions by expanding into the service industry through warehouse and MICE (Meeting, Incentive Tour, Convention, Exhibition and Event) services.
Myanmar Amara Hotel
POSCO DAEWOO has undertaken a hotel project in Yangon, Myanmar. Setting off in May 2014, construction is underway with official opening expected in 2017. Located close to the Inya Lake in the central part of Yangon, the hotel is a large-scale project consisting of a 15-story high luxury building and another high-rise building of 29 stories with a total of 658 rooms.
For this real estate investment project that involves both the construction and operation of the hotel, POSCO DAEWOO obtained approval of land use from the Myanmar government for the first time as a foreign private company. For this reason, this project signifies the company’s leap toward becoming the best global trading and investment corporation in Korea.
POSCO DAEWOO will continue to strengthen its international trade and resource development business while expanding market to strategic real estate development and investment.
Participation : September 2013: Executed land contract
February 2014: Began construction
2017 3Q: Grand opening expected
Size : Luxury Hotel : 15F (343 Rooms) / High-Rise Hotel : 29F (315 Rooms)
- Form of Business : BOT (Build – Operation – Transfer)
- Period : Maximum 70 years (50 years + 10 years + 10 years)