Entry into joint venture in respect of Taungthaman Perennial Development Limited to build a mixed-used project in Mandalay, Myanmar
A&G News 10 February 2020
Allen & Gledhill advised Taungthaman Perennial Development Limited (“TPDL”), as transaction counsel, on its establishment as a joint venture company between Perennial MTP Pte. Ltd, a wholly-owned subsidiary of Perennial Real Estate Holdings Limited and Mandalay Taungthaman Development Limited, a wholly-owned subsidiary of Capital Diamond Star Group.
TPDL will enter into a public-private partnership with the Mandalay Regional Government to build a mixed-use development in Mandalay, Myanmar (the “Project”).
The Project is situated on a land parcel spanning 265,361 square feet and is expected to comprise an innovation centre, shopping mall and luxury villa enclave. The total gross floor area of the Project will be approximately 580,000 square feet.
Advising TPDL were Managing Director Minn Naing Oo and Director Oh Hsiu-Hau from the Myanmar office of Allen & Gledhill.