AMTIC commits $46M to hospitality project in Myanmar

Adventure Myanmar Tours & Incentives Company (AMTIC) will invest $46 million to build hotels and infrastructure on 7.4 acres of land at the former National Defence College.

The land has been leased to the company under a Build, Operate and Transfer (BOT) contract to build a 5-star hotel, a shopping mall, a business center, and serviced apartments.

AMTIC is the 2nd firm to invest in the compound of the former defesce college after Shwe Taing Development was allowed to build an international standard hotel, a serviced apartment, and a shopping complex on 12.6 acres of land of the former National Defence College in August last year.

Shwe Taing Development Company will invest $101 million on the project.