Singapore Myanmar Investco announces that it will start retail and F&B operations in Junction City, the integrated development in Yangon.
With a five-year lease, the group is targeting to open up and operate up to 10 retail brands and F&B concepts in the retail & entertainment complex of Junction City.
At level 1 of Junction City, SMI will open and operate 7 retail outlets featuring Coach, Aigner, Pandora, Love Moschino, Furla, Bering and Versace Versus. The total size of these retail stores at level 1 is 7,200 sf.
In addition, the group plans to open up a large Benetton fashion retail store of 2,000 sf at level 2 of Junction City. Notably, SMI will open a Shiseido counter in Junction City and it will be the group's first Shiseido counter in Myanmar since securing the exclusive distribution agreement with Shiseido Asia Pacific in February 2017.
For F&B, the group is opening Crystal Jade Kitchen as well as Japanese ramen restaurant IPPUDO within Junction City.
Junction City has a built-up area of 260,000 sqm, and comprises Grade-A offices, a five-star luxury hotel and a retail & entertainment complex, as well as serviced residences.
Thursday's annoucement follows the successful roll-out of SMI's duty-free retail operations at Yangon International Airport New Terminal 1 since September 2016, this will be the group's next major retail and F&B venture in Myanmar.
Shares of Singapore Myanmar Investco closed 2 cents lower at 52 cents.
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