YORK CENTER SETS UP BUSINESS HUB IN YANGON

YORK CENTER SETS UP BUSINESS HUB IN YANGON

YORK CENTER SETS UP BUSINESS HUB IN YANGON
YORK CENTER SETS UP BUSINESS HUB IN YANGON

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.