Singapore based SEMBCORP Development, wholly owned by Sembcorp Industries (SCI), will develop its first integrated urban development in Myanmar, according to a Business Times report.

Sembcorp Development's joint venture (JV) company, Myanmar Singapore (Hlegu) Industrial Park JV, will ink an agreement shortly with the Yangon Region Government to lease 436 hectares of land in the Hlegu township for industrial, residential, and commercial purposes. This comes after the Myanmar Investment Commission has issued a permit approving the development of the Myanmar Singapore Industrial Park.

The JV company will be responsible for the master development of the industrial park, which will be developed over a period of nine years.