YANGON—A Myanmar Shopping Mall building and a three-story warehouse situated in Kyaukdata Township have been invited to invest in hotel services and other businesses, according to the Ministry of Hotels and Tourism.
The rental life for the two buildings, rented by the Myanmar Hotels and Tourism Industry under the Ministry of Hotels and Tourism, has now expired. The ministry has thus invited local entrepreneurs to run hotel services and related businesses with a five-year contract.
“Mainly, we aim to operate hotels services and other businesses. We have to carry out first priority services such as restaurants, a cinema and a ticket agency,” said a member of the Hotel Tender Securitizing Committee.
Although the rules and regulations of the tender bidding system have not been officially released, the ministry will conduct the competitive tender bidding system at the ministry’s office, according to the Hotel Tender Securitizing Committee.
“The ministry said that the life of the rental buildings is five years. How many years will the two buildings be rented by the ministry? Moreover, we are going to discuss matters on the reports presented by investors,” said the committee member.
The Hotel Tender Securitizing Committee will announce the tender winners on Tuesday (November 26).
Htoo Group of Companies is now operating the airlines services of Air Bagan Airlines Company and the sports activities of Yangon United football Club at Myanmar Shopping Mall.
Source: ELEVEN Myanmar
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