Co-sourcing firm F&P opens office and freezer/refrigerated warehouse in Yangon
YANGON, NNA - Japanese co-sourcing firm Fukuda and Partners Co. (F&P) has opened a business complex combining offices and freezer/refrigerated warehouses in Myanmar’s largest city Yangon to serve as a logistics center amid growing demand for perishable foods and food ingredients from the country’s burgeoning restaurant industry.
In 2017, F&P started construction of the facility, named “L.L. Town Tharkayta,” on a 9,095-square-meter site in the Tharkayta district of Yangon. A ceremony was held last Thursday to mark the completion of the project’s first phase, the four-story steel-framed Building B with a total floor space of 4,400 sq. meters, F&P said in a statement.
It is the first case in which F&P has operated its own property in Myanmar and the facility is expected to bolster the company’s business expansion. In June this year, F&P moved its Asian office from Singapore to Yangon to make Myanmar its base for Asian operations.
The freezer/refrigerated sections are established in an area of 1,161 sq. meters with no ceiling between the first and second floors. The area is adjusted to three different temperature levels: dry (ambient), freezing (-25 C) and cold (5 C).
Hotels and restaurants are growing in numbers in Myanmar with imports of perishable foods, including seafood and meat, as well as dairy items and processed foods expanding every year. Logistics centers equipped with freezer/refrigerated warehouses have been built by Japanese and other foreign companies in the suburbs of Yangon. But F&P has chosen the Tharkayta district for the new facility, which is much closer to the city center and can be accessed by a 30-minute drive.
“We are anticipating demand for the facility as a storage for foods for professional use as well as a delivery,” an F&P official said.
The building houses rental offices and high-security warehouses that can store high-price products as well as the F&P Asian office.
When completed, L.L. Town Tharkayta will have three buildings with the two remaining buildings due to be completed and start operation by September 2020. With a total floor space of 10,081 sq. meters, it will also have an educational training center and rental conference rooms.
F&P has been steadily building up its business in Myanmar. In 2016, it constructed serviced apartments with joint investment by Japanese contractor Fukamatsugumi Co. and Myanmar’s Kakehashi Real Estate Group Co. F&P also undertook management of a project to build a large freezer/refrigerated warehouse for Japanese developer Ryobi Holdings Co. in the Thilawa Special Economic Zone on the outskirts of Yangon. This warehouse started operation in 2018.