ANTICIPATING an increase in visitor arrivals, new hotel projects are mushrooming across Myanmar’s virgin Mergui archipelago, also known as the Myeik archipelago.
According to the Myanmar Investment Commission (MIC), 27 companies have proposed new hotel projects on Mergui and 13 were last week given the go ahead for developments on islands including Kyunphelar, Ngaman and Kayinkwa.
One of these is UAE-based investment company Gecko Holdings which, together with local Kyaw Win Phyo Company, formed a joint venture called Mokan to build a hotel on a 2,060ha site on Kyunphelar island.
Meanwhile, Singapore firm Zochwell Group is also expecting to sign a contract to develop a US$1.2 billion project, including a casino, on Salon Island.
TTG Asia e-Daily understands that the group has attained approval from the Thanintharyi regional government, but is awaiting consent from the Ministry of Hotels and Tourism and MIC.
Myeik Public Corporation last year said it is investing US$4 million in the development of a resort hotel on Kadan Island.
As of end-2014, Mergui had five hotels with a total of 196 rooms.
More foreign investors are coming in to invest in Myanmar, with most of them coming from Asian neighbours such as Singapore, Vietnam and Thailand, said Htay Aung, minister of hotels and tourism.
“The investment from both local and foreign investors in the (hotel) sector is expected to reach US$3 billion this year,” he added.
Located in Myanmar’s far south, Mergui is a priority area for development under the government’s tourism master plan released in 2013.