Name: Center Point Towers
Developer: Thailand’s LP Holding
Location: At the corner of Merchant and Sule Pagoda roads, Kyauktada township, Yangon
Number of Floors: 25 (2 buildings)
Descrption: Formerly known as the Sofitel, began back in 1995 but was mothballed in 1998. The project has 72,000 square metres of floorspace and includes a hotel, commercial offices and retail space. The commercial tower provides up to 15,500 square metres of A-class office space and 2500 square metres for retail.

Recently Completed Project

In 2010
Centrepoint Towers, Yangon

Work on the project, formerly known as the Sofitel, began back in 1995 but was mothballed in 1998.

In 2005 work restarted at the newly renamed site at the government’s urging.

The project has 72,000 square metres of floorspace and includes a hotel, commercial offices and retail space. The commercial tower provides up to 15,500 square metres of A-class office space and 2500 square metres for retail.

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from our neighbouring thread

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Opening date set for 300-room downtown hotel

Betting on tourism upswing, Thai developer targets November opening for hotel tower in $100m complex

By Pan Eiswe Star
(Volume 26, No. 507)


Centrepoint Towers Hotel will open in November, while space in an adjoining retail and office tower is already available for lease, the project’s developer says. Pic: Aung Tun Win

AFTER 15 years and almost US$100 million of foreign investment, one of the country’s largest hotel construction projects is nearing completion.

Centrepoint Towers Hotel, part of an integrated retail and hotel complex in downtown Yangon, is expected to open in November, the project’s chief executive, Mr Richard Mayhew, told The Myanmar Times via email last week.

The 300-room international-standard hotel will target the corporate and tourist markets and feature a 24-hour café, a Thai restaurant, a “top of the tower” restaurant, three lounge and music bars, a conference and banquet centre catering up to 1000 people and a fitness centre and gymnasium.

Mr Mayhew said the property’s owner, Thailand’s LP Holding, was seeking a hotel management company that could position Centrepoint Towers as a five-star international-standard hotel.
LP Holding, a hotel and hospitality company, also owns Mandalay Hill Resort.

“We see that a new hotel is required [in Yangon]. There is now increasing demand for accommodation in Yangon [because of] rising demand from international tourists and business travellers,” Mr Mayhew said, adding that most of the international hotels in Yangon are at least 15 years old.

“The number of tourists is peaking at 300,000 [foreign visitors a year] and we foresee that in the short term, three to five years, this number will rise exponentially and could reach the level of some of our neighbours in Southeast Asia – perhaps one million [visitors] plus,” said Mr Mayhew, who is also the general manager of Mandalay Hill Resort.

“With that there will be a need for major capital investment in the industry. [Growth] will also depend on increased flights and [providing] visas on arrival,” he said. “LP Holding Company is seriously looking at key locations elsewhere in Myanmar.”

In addition to the hotel, the property features 15,500 square metres of office space and a 2000-square-metre retail shopping centre. The complex is located at the corner of Merchant and Sule Pagoda roads in Yangon’s Kyauktada township.

While the hotel’s interior is still being fitted out, Mr Mayhew said construction work on an adjoining office tower was finished and space is available for lease.

LP Holding and the Ministry of Hotels and Tourism signed an investment contract for the Centrepoint development in November 1993 giving the company a 30-year lease over the site, according to a report in the New Light of Myanmar.

Construction began in 1995 but stalled in early 1998 because of the Asian financial crisis and the hotel operator, Accor’s Sofitel, soon pulled out of the project.

“The investment property, known at the time as Sofitel Hotel, was mothballed until 2005 when it was restarted,” he said.
In September 2009, Centrepoint’s backers pumped another $15.25 million into the project, according to the Thai embassy in Yangon and figures from the govern-ment’s Central Statistical Organisation, taking total investment to date to more than $100 million.

http://www.mmtimes.com/2010/news/507/n50701.html

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Highest or 2nd highest from Yangon.

i think its the highest, but there are many projects in myanmar but not many updates so its hard to say actually

Only one forumer from Yangon, CIMyanmar wright?

^^ and thuriyasai and phyopyaysone

Ok good to hear, all from Yangon?

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^^ thank you and welcome to skyscrapercity

vsx would you like to introduce yourself here

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Hilton Signs Hotel in Yangon, Myanmar

http://www.asiatraveltips.com/news13/63-HiltonYangon.shtml

Hilton has signed a management agreement with LP Holding Co., Ltd to manage the Hilton Yangon in Kyauktada Township, Yangon, Myanmar.

The first Hilton Worldwide property in Myanmar, the 300-room Hilton Yangon will also be the first Hilton Hotels & Resorts branded hotel and is scheduled to open in 2014.

“This agreement is a significant milestone for us as it represents both Hilton Worldwide’s and the Hilton brand’s entry into Myanmar. Following the social and economic reforms the country has made over the past year, Myanmar has seen visitor arrivals grow by 45.1% compared to the previous year. Yangon, in particular, is positioned to grow much faster than many other emerging market in Asia. Backed by a strong partner like LP Holding Co., Ltd, we are very confident that as the first internationally branded hotel in Yangon, Hilton Yangon will set the benchmark for quality hospitality experiences catering to both domestic and international travelers,” said Andrew Clough, senior vice president, development, Middle East & Asia Pacific, Hilton Worldwide.

The 21-storey Hilton Yangon is 14.3 kilometers away from Yangon International Airport and is part of Centrepoint Towers, a mixed-use development which includes high-end retail boutiques and a premium office tower. Located at No. 65, the corner of Sule Pagoda Road and Merchant Street in the Kyauktada Township, the hotel is located opposite Yangon’s iconic High Court building and the famous Independence Monument Park.

As the one of the tallest commercial buildings in the city, hotel guests will enjoy impressive 365-degree views of greater Yangon and easy accessibility to the downtown colonial quarter and business district of the city.

Hilton Yangon will offer one all-day dining restaurant, two specialty restaurants, a destination sky bar and a lobby lounge. Offering a total of 1,400 square meters of event space including a 850-square meter ballroom, the hotel will also have an Executive Floor, a business center, a fitness center, a pool, a spa and car park facilities.

Yangon boasts numerous tourism attractions such as the beautiful golden pagodas which can be found dotted throughout the city, the most famous of which is the Shwedagon Pagoda. Other key attractions include Kandawgyi Lake with its Royal Barge, numerous museums and well preserved examples of grand colonial architecture.

Following the lifting of economic and social sanctions on the country, a number of international airlines have introduced new routes into Yangon to cater for the rapid growth in demand for corporate and leisure travelers.

Arrivals into Yangon are expected to remain strong and with new foreign investment laws passed in November 2012 aimed at bringing in foreign capital, the city is expected to generate high levels of growth across all industries especially in the areas of mining, energy, telecommunications, banking, real estate, legal, healthcare and hospitality.