The developers of the Kanbae Towers project, five high-rise buildings featuring condos and retail space east of Inya Lake in Yangon, are planning to complete construction in just over two years.
A representative from the sales department for the project, backed by China’s Toener Investment, said the company was aiming for a July 2019 deadline.
The high-end, mixed-use development was originally slated for completion in late 2018, but was delayed when the Yangon regional government decided to temporarily suspend high-rise building projects late last year.
Construction at Kanbae Towers resumed in January, a representative said.
The project covers just over two acres of land on Kanbae Road in Yankin township. Building began in mid-2015 after units went on sale in March the next year.
The Kanbae Towers project will have a shopping mall, swimming pools, gyms, playgrounds and a park. It will be made up of three 25-storey buildings, one21-storey building and a fifth building with 12 floors.
There will be 500 retail and residential units on the sale measuring between 438 square feet and 1,121 square feet. There will also be parking space for 600 cars.
Prices start from K200,000 per square foot depending on what floor the unit it on other factors determining the quality of the location such as the view.
Residents will also be able to use their smartphones to access services in the condo such as air conditioning control and a parking management system, the company has said.
Toener Investment was founded in 2003 in China’s Hunan province, and its main activities are in mining and real estate. It has projects in China, Macau and Hong Kong and dozens of subsidiaries
Source: Myanmar Business Today
