Conglomerate Mottama building Myanmar's 1st steel high-rise
By Yadana Htun
YANGON, NNA - Mottama Holdings Ltd., a Myanmar-based conglomerate, is constructing the first high-rise steel building in the country, using Japanese technology.
Located in the north central part of Myanmar's commercial city, Yangon, the 111-meter, 26-story M Tower is being jointly developed by Mottama Development Co., a subsidiary of Mottama Holdings, and Hong Kong-based Mutual Profit Co. using 8,000 tons of iron.
A celebratory "topping out" event, in which the last beam was installed on the M Tower, was held on Tuesday and Yang Ho, chairman of Mottama Holdings, said the company has opened a new chapter in the high-rise construction sector in Myanmar where more than 90 percent of buildings are constructed using conventional concrete structures.
"This project proves how much we can do and how the new era of the construction sector comes by using steel and how many advantages it has," Yang Ho said.
Steel columns and beams used for the M Tower are locally manufactured by Min Dhama Steel Structure Co., which is also one of Mottama Holdings' 23 subsidiaries, and installed with Japanese technology.
Tin Maung Htun, director of Mottama Development, told NNA that the office tower is targeted to open in 2020, good timing for Myanmar's developing economy, although the supply of office space is greater than demand in the current market.
"There was a big shortage of office space when Myanmar adopted its open policy in 2015 as the construction industry had not been prepared for it. I think it will be a good timing for us as our project will be complete in the next two years when demand is expected to be higher again," he said.
The tower has over 50,000 square meters in total floor area. The first five floors will be occupied by cafes, restaurants and banks which are expected to facilitate office space occupancy.
Apart from the M Tower project, Mottama is developing six other buildings with steel framework in Yangon.
Chinese-Myanmar businessman Yang Ho established Mottama Holdings in 1997 and within 21 years has expanded business operations to construction, manufacturing, trading, hotels, tourism, property development and logistics, employing more than 3,500 workers and 30,000 contract workers.(NNA/Kyodo)