Yoma Strategic Holdings Ltd. (“Yoma Strategic” or “the Group”) and First Myanmar Investment Co., Ltd. (“FMI”) today celebrates the launch of Yoma Land, the new umbrella brand under which their Real Estate businesses will sit.
The existing Real Estate developments namely, Pun Hlaing Estate, StarCity and Yoma Central will be unified under the Yoma Land brand as the business continues to drive innovation in Myanmar’s real estate sector.
“We have united our Real Estate business under one name, Yoma Land. I believe that consolidation of our projects under one brand will help our customers identify with us more closely as a dedicated real estate developer, a service-focused company, and a community builder. This renaming will provide clarity of our portfolio offerings to our customers, adding maximum value to the people of this country,” said Mr. Cyrus Pun, Managing Director, Yoma Land.
“Our intention is to create a pure-play real estate company in Myanmar which is able to meaningfully service and eventually take a leadership position in every segment in the real estate market. This direction will coincide with the improvement in grass roots income that is typical of an emerging economy, and also with the expectant growth in credit availability for home purchases made possible by gradual reforms in the banking sector.”
In addition, Yoma Land also shared details of its new corporate vision, “Building Better Communities for the Future of Myanmar.” This statement sets Yoma Land’s course for the coming years where it will venture into mass-market product offerings with the intention of catering to a much larger proportion of Myanmar’s population.
With the introduction of higher value luxury properties at Pun Hlaing Estate, including upscale townhouses and villas as well as March’s launch of The Peninsula Residences Yangon, Yoma Land will continue to redefine luxury living in Myanmar and augment its leadership position at the high-end of the property market.
“The broadening of our portfolio is a consolidation of the things that our Real Estate business has always stood for, which is to build great communities through innovation, a pioneering spirit and an ability to anticipate future trends and be the first mover in the market,” added Mr. Pun.
From an operations perspective, Yoma Land plans to build on its existing strength and resources in project and construction management. This will allow Yoma Land to expand its capabilities and be able to deliver a larger proportion of construction in-house, improving cost competitiveness by reducing the reliance on outsourcing. The adoption of new technology such as modular construction and pre-fabrication, together with the partial industrialization of the production process, will further enhance Yoma Land’s capabilities.