MIC cancels tender to turn old building into hotel in Yangon

March 08

17:05 2016

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The Myanmar Investment commission yesterday announced the cancellation of the winning tender for turning a four-storey building in Yangon into the Inle Lake View Resort as the tender winner failed to begin operations.

According to MIC, Sandar Hotel Co., Ltd and Cho Zaw Construction Company were selected as the tender winner on 22 October, 2014 to turn the building which was the office of Myanmar Export & Import Enterprise previously at the corner of Merchant Road and Maha Bandoola Panchan Road in Kyauktada Township, Yangon, into a hotel of international standard. Although the commission asked the tender winners to begin the operation on 27 October, 2014, no operation has been seen till now, the commission added.

Ref: The Global New Light of Myanmar, 2 March 2016