A luxury resort project which includes villas and a five-star hotel along Ngwe Saung beach in Ayeyarwaddy region has begun.
The project is located on 160 acres of land in Bu Kwey Gyi village in Ngwe Saung and aims to be the first holiday villa project in Myanmar, U Soe Thiha Hlaing, executive director of TSC Enterprises, which is one of the developers of the project, told Myanmar Business Today.
He said Ngwe Saung was chosen as the project site because transportation infrastructure there is relatively more developed than other beaches in Myanmar and the beach has a clean environment.
“Myanmar is developing now and the living standards are getting higher. Holiday villas can be found in a lot of our neighbouring countries but it is still a very new concept to Myanmar,” U Soe Thiha Hlaing said.
The project is planned to be implemented in three phases which will take three to five years per phase. It is estimated the first phase will finish by the end of December 2017.
Each villa will have the same design and 136 villas will be built in the first phase of the project. There are 446 plots of land for the whole project and the sale showroom will open in mid-January.
The price of one villa ranges from K260 to K400 million. The buyer will get the ownership right of the land. “We will also rent to people who only want to use the villas temporarily,” added U Soe Thiha Hlaing.
The project is implemented by Ayeyarwaddy Co, which is a consortium of 20 companies from different business sectors such construction and agriculture.
The project is located 500 metres away from the beach. The later phases of the project will include five-star hotels and playgrounds.
Source: Myanmar Business Today
