Joint venture between Shwe Taung Real Estate Company Limited and Aeon Mall Company Limited to develop, manage and operate shopping malls in Myanmar

A&G News 18 May 2020

Allen & Gledhill advised Shwe Taung Real Estate Company Limited (“Shwe Taung”), as transaction counsel, on its joint venture agreement with Aeon Mall Company Limited (“Aeon”) to develop, manage and operate shopping malls, of which the first shopping mall will be constructed on two land plots owned by Shwe Taung’s affiliate companies in Thaketa Township, Myanmar.

Shwe Taung is a leading Myanmar conglomerate and real estate developer and currently operates several large shopping malls in Yangon under the “Junction” brand. Aeon is also the leading Japan shopping mall operator and this joint venture is Aeon’s first entry into Myanmar market for shopping mall projects, after the establishment of its first Myanmar business presence in 2011.

It is believed that the joint venture will change the landscape of the shopping mall sector in Myanmar.

Advising Shwe Taung was Director Oh Hsiu-Hau from the Myanmar office of Allen & Gledhill.