UOL Group announced that its subsidiary, Pan Pacific Hospitality, entered a conditional joint venture agreement on Oct 26 to form a joint venture company in Myanmar.
The joint venture with Shwe Taung Junction City and City Square, will acquire, construct, develop a 348 room hotel. It may also manage it.
The hotel is located in the Junction City mixed use development along Shwedagon Pagoda Road, in the prime city centre of Yangon.
The subsidiary will hold 20 per cent of the share capital of the joint venture.