FTC/DACC – Yangon State House Kempinski Hotel – Myanmar - Project Profile

FTC/DACC – Yangon State House Kempinski Hotel – Myanmar - Project Profile

  • February 2018 •
  • 8 pages •
  • Report ID: 4529080
"FTC/DACC – Yangon State House Kempinski Hotel – Myanmar - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "FTC/DACC – Yangon State House Kempinski Hotel – Myanmar - Project Profile" is part of Timetric’s database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.

Flying Tiger Company (FTC) and Diamond Asia Capital Company (DACC) are constructing a five star hotel in Yangon, Myanmar.

The project includes the construction of a hotel with 229 rooms and suites, three restaurants, a lobby lounge, a rooftop bar, a grand ballroom, a swimming pool and a spa, and the installation of elevators, safety and security systems.

Kempinski Hotels & Resorts Group (Kempinski), FTC and DACC have signed an agreement to jointly develop a colonial-era building on Strand Road. Kempinski is advising on how to develop the building to international hotel standards and will manage the hotel.

DP Architects Pte Ltd has been appointed as architect and Purcell as planner to draft a conservation management plan for the site for the project.

In October 2012, the Lawyers’ Network staged a protest against the project.

In May 2014, protest was filled for second time.

In October 2014, Siam Commercial Bank signed an agreement to provide US$60 million in financial support to develop the project.

Myanmar Investment Commission (MIC) has approved the project plans.

In January 2015, court had refused an application for the second time from the Lawyers’ Network that was arguing it was not appropriate to re-purpose a court as a hotel.

Construction works are underway and expected to be completed by second quarter of 2018.

The project involves the conversion of former colonial-era Police Commissioner’s building on Strand Road into a five-star hotel in Yangon, Myanmar.

The US$80 million project includes the following:
1. Refurbishment of existing building
2. Construction of 229 rooms and suites
3. Construction of three restaurants
4. Construction of a lobby lounge
5. Construction of a rooftop bar
6. Construction of a grand ballroom
7. Construction of a swimming pool
8. Construction of a spa
9. Installation of elevators
10. Installation of safety and security systems

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Country=Myanmar Industry=Tourism ParentIndustry=Services Date=201802 Publisher=Timetric Price=1000