HAGL Myanmar and Mega Ace Cineplex sign Lease Agreement to develop cinema at Phase 2
July 17, 2017
Vietnamese Developer, Hoang Anh Gia Lai and the digital cinema chains in Myanmar, Royal Ace Mega Co. Ltd have signed Lease Agreement to develop multi-screens cinema complex at Phase 2 of HAGL Project.
The Lease Agreement signing between two companies was made on 17th July (Monday) 2017 from 3 pm to 4:30 Pm at Melia Yangon Hotel. The Managing director of HAGL Myanmar, Mr. Cao Duy Thinh and the Executive Director of Royal Ace Mega Co. ltd, Ms. Moe Nway Oo signed the agreement on behalf of respective parties.
According to the agreement, HAGL and Royal Ace Mega will develop the multi-screens cinema complex, under the recognized name “Mega Ace” cinema. There are altogether 6 screens, one VIP lounge, one Premier Class Hall, and food concession with international standard on net leasable area of 2581.60 sqm.
Mr. Thinh, MD of HAGL Myanmar said, “Signing this Agreement is part of HAGL’s objective to bring perfect convenience and benefits to the residents and visitors of the project in the near future.”
“We have been trying to add more values to Phase 2 in the long run, we have also decided to adjust scope of business for Phase 2 by converting about, 30,000 sqm of office space into commercial centre with entertainment functions, cinema, hypermarket, etc. For this reason, we have decided to make an agreement with Mega Ace to develop multi screens Cineplex as we would like to provide the luxury of everything under one roof to our residents and visitors in the near future”, he added.
The new shopping centre of HAGL phase 2, will feature 5 stories of fully functional commercial space with international brands, hypermarket, department stores, food court, game zone, kid zone and cinema on total commercial leasing across retail area of 93,742 square metres.
Ms. Moe Nway Oo, the executive director of Royal Ace Mega also briefly explained about Mega Ace Cineplex, and they are expanding their project in collaboration with HAGL for they want to passionately deliver audiences an exceptional movie experience.