Myanmar’s Mottama completes $80 mln high-rise steel building structure

Mottama Holdings, a Myanmar-based construction to logistics company, announced it has completed the structure of Myanmar’s first high-rise steel building, an $80 million office tower in Yangon called M Tower that Mottama is building through a joint venture with a Hong Kong investor.

Mottama said the investor, M Tower Company, is a joint venture between Mottama, which holds a 51 percent share and a Hong Kong-based company, which holds 49 percent.

The project is funded through Mottama's revenues and shareholder loans.

The 26-storey project in Yangon’s Pyay Road is being built by Mottama subsidiary Min Dhama Steel Structure using locally manufactured steel and is expected to be finished by 2020, after which the 265 units will be leased as office space.