BUSINESS – Yoma plans high-rises over Rangoon heritage site

Yoma Strategic Holdings Ltd and First Myanmar Investment Co are to construct two office towers, a commercial centre and other developments on a 10-acre site surrounding the 136-year-old British Burma Railway Company building in downtown Rangoon, according to a statement by the World Bank’s International Finance Corp, which is backing the scheme. The colonial railway building, which is one of Rangoon’s best known heritage sites, is due to be renovated into a Peninsula Hotel in a separate project.