HOUSE OF THE WEEK
Expensive house and yard in Insein tsp
SPACE, creature comforts and a wonderful garden are the upshots of this house in the Taw Win housing project, just off Lan Thit Road near the Yangon International Airport. more
Ruby Mart to open in June: developer
(Volume 26, No. 522)
The nearly finished Ruby Mart building on Bogyoke Aung San Road. Pic: Lwin Maung Maung
RUBY Mart shopping centre at the corner of Pansodan and Bogyoke Aung San roads in downtown Yangon is set to open in June, said Lt. Colonel Nay Win, the man in charge of the project.
He told The Myanmar Times that Union of Myanmar Economic Holdings Limited (UMEHL) is funding the transformation of the site, which was once an office for Myanmar Agricultural Produce Trading. However, after that organisation moved out, the building was left empty and was unused for many years. Lt. Colonel Nay Win said UMEHL is spending about K5 billion, or US$5 million, refurbishing and renovating the building.
“Ruby Mart is a five-storey building that will house more than 100 shops. Each floor will include two escalators. Our main aim in renovating this site is to fulfill the shopping requirements of customers in the downtown area,” he said.
He added that UMEHL will rent out more than half of the mall’s retail spaces but will also run its own outlets.
“The work at the site is ongoing and we cannot confirm how much we will be charging for shop rents yet,” said Lt. Colonel Nay Win.
The renovation of the site began in November last year.
