SINGAPORE - Real estate management group LHN Group has secured its first management service project in Myanmar with a serviced residence contract in Yangon, the company announced on Thursday (July 12) during the market's midday break.
The client, Mother Construction Co, has hired LHN to renovate and provide property management and leasing services to a 13-storey property in the Mingala Taung Nyunt Township close to Yangon's central business district. The contract size was not disclosed.
The property will be renovated to comprise 88 one-bedroom units and amenities and facilities. The serviced residence will be managed under LHN's 85 SOHO brand and is expected to be operational in early January 2019.
Mother Construction is a Yangon-based property developer with more than 20 years in the industry, LHN said.
LHN shares were indicated at 18 Singapore cents as at 12.54pm, up 3.4 per cent or 0.6 Singapore cent on the day.