Scipio Services and York Center property owners have signed a management service agreement, offering minimum six-month leases to firms looking for office space in Yangon. The agreement entails the development of the project through a long term lease on Build- Operate-Transfer terms often employed by large foreign firms.

The three-story building is 18,000 square feet, with up to nine separate offices, and is located on the former York Street – now Yaw Min Gyi Street – near the Park Royal Hotel in Dagon Township.

Long-term leases are suitable for firms with longer horizons, such as hotels, but often have high capital requirements and a permitting process that can be discouraging to smaller foreign investors with shorter investment horizons, according to Scipio managing director Brett David Miller.