UNLOCKING A HISTORIC LANDMARK AT THE HEART OF YANGON

PROJECT SUMMARY

Turquoise Mountain, at the request of the Myanmar Government, willundertake the revitalization of the old Tourist Burma Building to createMyanmar Aswe, a centre for tourism and culture at the heart of Yangon.

• $6m capital expenditure

• $850k annual rental income

• ~10% IRR

• Project completion Q1 2019

PROJECT SUMMARY – FINANCIALS

HERITAGE LED REGENERATION• 40,000 square feet of derelict space turned to prime real-estate• 30,000 square feet of public recreational space created

TRAINING AND LIVILIHOODS• 1,000 people trained in heritage restoration• 50 small business housed

A VIBRANT CELEBRATION OF MYANMAR CULTURE• 13,000 square feet of free or subsidized tourism, cultural, or urban

planning space provided

VISION

VISION

“Combining Conservation and Development to Create Asia’s Most Liveable City”The Yangon Heritage Trust’s Yangon Heritage Strategy

THE PROBLEM

Demolition of irreplaceable and historically significant buildings

THE PROBLEM

Poverty, poor living conditions and skills shortages after decades of isolation

THE SOLUTION

Regeneration of a landmark historic building at the heart of Downtown Yangon

THE SOLUTION

Training over 1,000 people in heritage restoration

THE SOLUTION

A publicly accessible and vibrant celebration of Myanmar culture

WHY NOW?

“Now is the moment to set the city in a new direction and avoid the mistakes of its regional neighbours. Now is the moment to begin turning Yangon into Asia’s most liveable city”. – Yangon Heritage Strategy

WHY NOW?

The Yangon Chief Minister opening Turquoise Mountain’s first renovation project

THE MARKET

There is demand for high quality space within historic buildings in Yangon’s Downtown

“The leading frim of native outfitters”- the first Burmese owned apartment store

THE PRODUCT - A BUILDING WITH A RICH HISTORY

THE PRODUCT – A HIGH QUALITY RENOVATION

Leading by example, the project will set the standard for historic building renovation and reuse in Yangon

A vibrant mix that will secure over 65% public access

THE PRODUCT – BUILDING USES

THE PRODUCT – URBAN PLANNING FORUM

THE PRODUCT – A THOUGHTFUL DESIGN LED APPROACH

THE PRODUCT – CONSULTATIVE APPROACH

Design and training workshop held in the building in October 2016 for young architects and engineers

THE TEAM – TURQUOISE MOUNTAIN

Turquoise Mountain was founded in 2006 by HRH Prince Charles to:

regenerate historic areas and traditional crafts,

creating jobs, skills and a renewed sense of pride.

THE TEAM – TURQUOISE MOUNTAIN - AFGHANISTAN

110 historic building restored, and awarded 2013 UNESCO Asia Heritage Award of Distinction

THE TEAM – TURQUOISE MOUNTAIN – MYANMAR

491-501 Merchant Street, completed April 2016

After

Before

THE TEAM – TURQUOISE MOUNTAIN’S COMMITMENT TO SUCCESS

Leading every stage of the project from formulating the brief through to overseeing the first years of operations

THE TEAM – LEADING INTERNATIONAL DESIGN TEAM

BUSINESS PLAN

Based on commercial rents from the F+B and office, and subsidized rents from events and craft retail / workshops

SOCIAL IMPACT – TRAINING AND LIVILIHOODS

SOCIAL IMPACT – ENVIRONMENTAL

A designed approach to minimize negative environmental impact, both in construction and operational phases

SOCIAL IMPACT – A CELEBRATION OF MYANMAR CULTURE

FINANCIALS – HOW TO INVEST

• Charitable donation to overall project – target $1.5m

• Sponsor a space or activity– target $600,000

• Social Investment (~10% IRR) – target $3.9m

• A Special Purpose Vehicle (SPV) is being set up which has ‘charitable objects’

• A The SPV will be governed by a Board of Directors who represent the interests of the SPV

• The SPV can raise international or domestic capital, investment, debt or donations

• The SPV will be granted a long lease on the building from the government

• The development phase of the project would be led by Turquoise Mountain

• Once complete the building would be managed by a management company which will report to the SPV Board

FINANCIALS – LEGAL STRUCTURE FOR INVESTMENT

FINANCIALS – A UNIQUE OPPORTUNITY FOR INVESTORS

…to invest in a secure, government backed, internationally led, historic building in central Downtown Yangon.