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Tallest Landmark Hotel in Yangon
Hyundai Elevator soars with the tallest landmark hotel in Yangon:
Since the inauguration of the new government in Myanmar in 2011, the regime’s attempts to improve the country’s business environment by opening up to the global economy have increased the level of foreign investment as well as exports of energy and raw materials. While Myanmar’s economic growth recorded an impressive 7.8% in 2014, the government has set ambitious goals for average annual growth of 8% until 2030, by which point it hopes GDP per capita will have reached $3,000.
The construction sector has been spotlighted as the most promising market together with agriculture and manufacturing due to its rapid economic growth.
The construction market in Myanmar has continued to achieve a high growth rate of 9% since 2011 due to the new government’s focus on infrastructure development and the increasing involvement of foreign investment funds derived from legal changes around foreign investment. Based on this rapid growth, the volume of the construction market is forecast to reach $4.1 billion this year. Yangon, the old capital city of Myanmar, is the center of the economy, accounting for 80% of Myanmar’s overall trade.
Last August Hyundai Elevator won a contract to supply 20 elevators for the Daewoo Amara Hotel in Yangon. As part of the contract, Hyundai Elevator will supply 5 high speed gearless elevators (i-XEL) with a velocity of 3m/s, 2 elevators with a velocity of 2.5m/s, and 6 elevators with a velocity of 2m/s. i-XEL removes vibrations from gearing and ropes by applying a permanent magnet gearless traction machine developed with Hyundai Elevator's own technology, and offers a comfortable and smooth ride.
The Daewoo Amara Hotel consists of two buildings of 15 and 29 stories with one basement floor respectively. They offer 335 luxury hotel rooms, 321 serviced residence rooms, a convention center and swimming pool. The 'Curtain wall' method, whereby the exterior of the buildings is entirely constructed with glass, was applied successfully for the first time in Myanmar. Myanmar is a very religious nation in which 85% of the population believes in Buddhism. One of the interior concepts of the Daewoo Amara Hotel is the lotus, which is considered sacred in Buddhism. The elevators have also been designed
with lotus patterns.
Titanium bronze beads are used as a design material, which adds luxury to the lotus patterns. The Daewoo Amara hotel is located near Lake Inya, a 'Green Zone' since 2014 to preser ve the environment, which now specifies a maximum of 14-story for new buildings. The construction of the Daewoo Amara Hotel was approved before the area
became a Green Zone, which enabled a 29-story building to be erected. It will be a landmark as the tallest building in Yangon when construction is completed in June 2017.
There was a fierce competition to secure the contract to supply elevators for the Daewoo Amara Hotel. While all global elevator companies participated in the bid,Hyundai Elevator achieved success with its localization strategy based on exhaustive market analysis.
Being a recently opened country, Myanmar has great potential to develop. With the Daewoo Amara Hotel project as a start, Hyundai Elevator will enhance its brand awareness in Myanmar to actively capture the market.
   


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