Berjaya Land signs CA to start RM3bil real estate project in Myanmar

A picture shows a colonial building at a busy intersection in Yangon, Myanmar. The proposed development, BLand says is an opportunity for the group to venture into Myanmar's property market.

KUALA LUMPUR: Berjaya Land Bhd (BLand) has raised the gross development value (GDV) of its real-estate project in Myanmar's largest city after a subsidiary secured the concession agreement (CA) with the government to start the project.

The RM3bil housing and mixed development project in Yangon will be developed by its 80% owned subsidiary BDS Smart City Co Ltd over nine years, the company said in a filing with Bursa Malaysia today.