Zaykabar Company
Zaykabar Company is a Myanmar conglomerate associated with construction, property development, hospitality, entertainment, energy retail, telecommunications and broadcasting.
Last updated August 26, 2026
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Overview
Zaykabar Company, also known as Zay Gabar or Zay Ka Bar, is a Myanmar conglomerate founded in 1990 by Khin Shwe. Its activities have centered on construction and property development, while also extending into hospitality, entertainment, petroleum retail, telecommunications and radio broadcasting. The company is best known for large-scale projects around Yangon, including the Mingaladon Garden City development, the Royal Mingalardon Golf Course and Pyay Garden Condominium. The company's property activities have included residential estates, industrial land, commercial facilities and high-rise development. Mingaladon Garden City, developed on the outskirts of Yangon, was planned as a broad mixed-use project incorporating an industrial zone, offices, commercial facilities, housing and a golf course. Royal Mingalardon Golf Course opened in 2007 as part of that development. In 2008, Zaykabar opened Pyay Garden Condominium in Mayangone Township, a 25-storey building described in contemporary accounts as Myanmar's tallest building at the time. Zaykabar has also operated hospitality and leisure assets. These include Mya Yeik Nyo Royal Hotel in Yangon and entertainment facilities around Kandawgyi Lake, including the Karaweik Oo Yin Kabar fairground area and Myaw Sin Kyun Island, which has been used as a concert venue. The company has additionally been linked to Cherry FM, a radio station based in Taunggyi and broadcast from Yangon. The station was headed by Zay Zin Latt, identified in reference material as Khin Shwe's daughter. Following the liberalization and privatization of Myanmar's petroleum market in 2010, Zaykabar was among the companies granted licenses to operate petrol stations. The relevant retail operation was associated with the name Toe Naing Mann, identified in available material as the son of Shwe Mann. Zaykabar also established the Mya Yeik Nyo Foundation for Health, Education and Culture in September 2011, creating a formal philanthropic arm alongside its commercial activities. The company has faced sustained criticism over land acquisition, compensation and development practices. Disputes were reported in connection with land used for Mingaladon Garden City and with rubber plantation land in Mon State. Farmers and civil-society groups alleged coercion, inadequate compensation and the loss of customary or legally recognized land-use rights. In 2012, farmers protested the alleged confiscation of farmland, while Khin Shwe rejected the grievances in a parliamentary setting. Zaykabar also filed defamation charges against a political activist who had supported the farmers. A separate controversy arose in Yangon in 2018 when the company's development plans involved the demolition of the Mayor's Residence, a building listed on the Yangon City Heritage List. The proposed Myayeiknyo Royal Project, reportedly valued at approximately $500 million in contemporary reporting, drew opposition from heritage advocates and local residents because of its location near important heritage and religious sites and concerns about the nearby Kokkine reservoir. The Myanmar military later ordered reconstruction of the residence in its original style and terminated Zaykabar's lease in October 2018, citing contractual breaches and a joint-venture agreement with a Chinese company. Zaykabar therefore occupies a dual position in Myanmar's business landscape: it is a diversified domestic developer with a portfolio of urban, industrial, leisure and media interests, but it is also associated with contentious land and heritage issues. Publicly available reference material does not establish a current consolidated ownership structure, a stock-market listing, or a definitive corporate website.
History
Zaykabar Company was founded in Myanmar in 1990 by Khin Shwe. It developed into a diversified domestic conglomerate whose principal activities were construction and real estate, supplemented by hospitality, leisure, petroleum retail, broadcasting and telecommunications-related interests. During the 1990s, the company was reported to have engaged Bain & Company and other firms to lobby in support of lifting United States trade sanctions on Myanmar's government. A major phase of the company's expansion involved Mingaladon Garden City on the outskirts of Yangon. In 1997, Zaykabar took control of approximately 5,000 acres for a planned mixed-use development comprising an industrial zone, office towers, a shopping facility, thousands of residential bungalows and a golf course. The project became one of the company's most visible undertakings, but also generated long-running disputes with farmers. Allegations included coercive acquisition practices, misleading negotiations and compensation substantially below prevailing land values. In 2010, the company acquired a further 845 acres from Shwenantha village, producing additional complaints from affected farmers. Zaykabar added prominent urban and leisure assets during the 2000s. Royal Mingalardon Golf Course opened in October 2007 as a 21-hole course occupying roughly 280 acres within the Garden City development. In 2008, the company opened Pyay Garden Condominium, a 25-storey tower in Yangon’s Mayangone Township. The building was described at the time as the tallest in Myanmar. Zaykabar also owned and operated Mya Yeik Nyo Royal Hotel and ran entertainment attractions around Kandawgyi Lake, including the Karaweik Oo Yin Kabar fairground area, with a mini-zoo and playgrounds, and Myaw Sin Kyun Island, used as a concert venue. The company broadened its commercial portfolio after Myanmar's 2010 petroleum-market privatization. Zaykabar was among a limited number of firms granted licenses to operate petrol stations, under the name Toe Naing Mann in the available reference material. It also became associated with Cherry FM, a radio station located in Taunggyi and broadcasting from Yangon. Zay Zin Latt, identified as Khin Shwe's daughter, headed the station. In September 2011, Zaykabar established the Mya Yeik Nyo Foundation for Health, Education and Culture. Land disputes remained a defining feature of the company's public profile. In September 2011, approximately 150 rubber farmers in Mon State's Kyaikmaraw Township protested the alleged confiscation of 830 acres. They argued that compensation was well below local market values. The Mingaladon dispute intensified in 2012. Despite a government instruction to stop bulldozing farmland, the company was accused of continuing the work. Affected farmers sought to organize a collective to defend their farming rights and protested in July. Khin Shwe, then serving as a member of the Amyotha Hluttaw, rejected the farmers' account during a parliamentary session. On the same day, Zaykabar filed defamation charges against Nay Myo Wai, a politician who had advocated for the farmers. The company encountered another major controversy in Yangon in 2018. It demolished the Mayor's Residence, a building on the Yangon City Heritage List, for a proposed Myayeiknyo Royal Project reportedly valued at $500 million in contemporary accounts. Heritage organizations, including the Yangon Heritage Trust, criticized the demolition and questioned the Yangon City Development Committee's oversight. Residents also raised concerns about the project's proximity to Shwedagon Pagoda and other heritage sites, as well as possible effects on the Kokkine reservoir, which supplied water to several townships. In June 2018, the military ordered Zaykabar to rebuild the residence in its original style. In October, the military terminated the company's lease, citing contractual breaches and a joint-venture agreement with a Chinese company. In 2019, the Kayin State Government alleged that Zaykabar had built a complex in Thandaunggyi Township without authorization from local development committees. The allegation added a regulatory dimension to the earlier land and heritage disputes. Publicly available reference material provides no reliable information on a current chief executive, consolidated group structure, listing status, or present operating scale. The company is nevertheless documented as an important Myanmar corporate brand with a history spanning urban development, construction, leisure, hospitality, media and energy-related ventures.
- 2018
Mayor's Residence controversy
[1]Demolition of a Yangon heritage-listed building for a proposed development led to official intervention and termination of the company's lease.
- 2011
Mya Yeik Nyo Foundation established
[1]The company established a foundation focused on health, education and culture.
- 2010
Petrol-market expansion
[1]Zaykabar received licenses to operate petrol stations following Myanmar's petroleum-market privatization.
- 2008
Pyay Garden Condominium opens
[1]Zaykabar opened a 25-storey condominium tower in Yangon's Mayangone Township.
- 2007
Royal Mingalardon Golf Course opens
[1]The company opened a 21-hole golf course within Mingaladon Garden City.
- 1997
Mingaladon Garden City land acquired
[1]Zaykabar acquired approximately 5,000 acres for a planned mixed-use development incorporating housing, industrial, commercial and leisure facilities.
- 1990
Zaykabar Company founded
[1]Khin Shwe founded Zaykabar Company in Myanmar.
Products and positioning
A diversified Myanmar conglomerate focused on large-scale urban development and construction, with additional interests in hospitality, leisure, energy retail, broadcasting and related infrastructure.
Mixed-use property development · 1997
Mingaladon Garden City
A large-scale development on the outskirts of Yangon combining residential, industrial, office, commercial and leisure components. Plans described in reference material included an industrial zone, office towers, a shopping facility, approximately 4,000 residential bungalows and a golf course. The project is also the center of long-running disputes concerning land acquisition and compensation.
Golf and leisure · 2007
Royal Mingalardon Golf Course
A 21-hole golf course opened within Mingaladon Garden City. The course covers approximately 280 acres and was developed as a leisure component of Zaykabar's broader urban-development project.
Residential real estate · 2008
Pyay Garden Condominium
A 25-storey condominium tower in Yangon's Mayangone Township. It was described in contemporary reference material as Myanmar's tallest building when opened in 2008, making it one of Zaykabar's most prominent urban residential projects.
Hospitality
Mya Yeik Nyo Royal Hotel
A Yangon hotel owned and operated by Zaykabar according to the available reference material. Further information about its room inventory, positioning and current operating status is not established.
Radio broadcasting
Cherry FM
A radio station associated with Zaykabar, based in Taunggyi and broadcasting from Yangon. Available material identifies Zay Zin Latt as the station's head.
Entertainment venue
Karaweik Oo Yin Kabar
An entertainment area at Yangon's Kandawgyi Lake associated with Zaykabar. The venue included a fairground, mini-zoo and playgrounds.
Entertainment venue
Myaw Sin Kyun Island
A Kandawgyi Lake venue operated by Zaykabar and used for concerts and other entertainment programming.
Industrial manufacturing
Cement factory project
A reported cement-factory project with planned capacity of approximately 3,300 tons per day and an estimated project value of $220 million in the cited material. The available reference does not establish its completion or current operating status.
Controversies
2019
Alleged unauthorized construction in Kayin State
The Kayin State Government alleged that Zaykabar built a complex in Thandaunggyi Township without authorization from local development committees.
2018
Demolition of Yangon Mayor's Residence
The demolition of a building listed on Yangon's heritage register for the planned Myayeiknyo Royal Project triggered criticism from heritage watchdogs and local residents. Concerns included the project's proximity to important heritage sites and possible effects on the Kokkine reservoir.
2012
Mingaladon farmer protests and defamation case
Farmers protested alleged continued bulldozing and inadequate compensation. Zaykabar's chairman disputed their claims in parliament, and the company brought defamation charges against a politician supporting the farmers.
2011
Kyaikmaraw rubber-farmland dispute
Rubber plantation farmers in Mon State protested the alleged confiscation of 830 acres and said the compensation they received was unfairly low.
1997
Mingaladon Garden City land dispute
Farmers alleged that approximately 5,000 acres were taken for the Mingaladon Garden City project through coercion or misleading arrangements and that compensation was substantially below market values.
1990
Sanctions lobbying controversy
During the 1990s, Zaykabar was reported to have hired Bain & Company and other firms to lobby for the lifting of United States trade sanctions imposed on Myanmar's government.
Brand decisions
2018
Pursue the Myayeiknyo Royal ProjectOtherBackground
Zaykabar sought to develop the site of Yangon's former Mayor's Residence, a building included on the Yangon City Heritage List.
Action taken
The company demolished the heritage building and pursued a development reportedly valued at approximately $500 million in contemporary reporting.
Aftermath
The project faced opposition, the military ordered reconstruction of the residence in its original style, and the lease was terminated later in 2018 over alleged contractual breaches.
Reported project value. (2018)
2011
Establish a philanthropic foundationStrategyBackground
The company sought to formalize activities related to social and cultural support.
Action taken
Zaykabar established the Mya Yeik Nyo Foundation for Health, Education and Culture.
Aftermath
The foundation became the company's identified philanthropic arm. Further information about its programs and current activity is unavailable in the supplied material.
2010
Enter licensed petroleum retailStrategyBackground
Myanmar's petroleum market was being privatized, creating opportunities for domestic companies to operate petrol stations.
Action taken
Zaykabar obtained operating licenses for petrol stations, with the operation associated in available material with the name Toe Naing Mann.
Aftermath
The move expanded Zaykabar beyond construction and property into energy retail, although the current scale and status of the business are not established.
Sources1 sources
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