Metro’s top picks of Yangon housing projects

The numbers of high-quality housing projects and highrise apartments have increased substantially in Yangon over the past five years.

Although the property market has slowed overall, demand for luxury accommodation has looked more positive. Both residents and investors are interested in this market. As condos and apartments are still the only viable option for foreigners, who aren’t permitted to buy a house in Yangon, luxury property attracts a good deal of overseas investment.

A number of new housing projects have been completed, and many are still in the construction phase, making 2020 an exciting time for those looking for a new investment in the golden land.

Here are some of Metro’s best picks for luxury and mid-range apartments in Yangon. – Translated

68 Residence

This project is under the management of the United GP Development Co, and is located on Kaba Aye Pagoda Road in Bahan township. Bahan is an economic hub, with many high quality projects, offices and mansions.

68 Residence is located on the corner of Kabar Aye Pagoda and Saya San Roads, and was built on an acre of freehold land. It is a 27-storey building that includes four floors for car parking. It contains some 11 types of apartments, with a total unit of 229 overall. Prices range from US$300 to around UD$500 per square foot, depending on the location within the complex.

The Peninsula Residences Yangon

The project is being developed on a four hectare site in downtown Yangon at the junction of Sule Pagoda and Bogyoke Aung San Roads. Work began on February 16, 2017 and the sales of the apartments were launched on March 24, 2018.

The Peninsula Residences has 112 residential units. Completion is expected next year.

The 26-floor project will include international-standard, fully serviced, ready-to-stay apartments in two, three- and four-bedroom layouts, as well as penthouses and terace penthhouse furniture packages are available for buyers to purchase at an additional cost.

The residences are also part of a project to repurpose the colonial-era Myanmar Railways building into a luxury hotel. The Peninsual as part of the Yoma Central development plan. Two Grade A towers house offices and a hotel will also be built together with a retail complex.

According to its marketing material, the Yoma Central project is inspired by Myanmar’s culture and historical architecture and the building designs are drawn by world-class architects.

Investment in the Peninsula Yangon includes Hong Kong and Shanghai Hotels at 70 percent, Yoma Strategic at 24 percent and the remaining 6 percent is from FMI.

For the mixed-use project, the investment structure is as follows: Yoma Strategic 48 percent, Mitsubishi 30 percent, FMI 12 percent, IFC and ADB at 5 percent each.

The investment amount is $700 million.

Magical World

Located on Khayabin Road in Lanmadaw township, this project is managed by three companies: New World Development , Adventure Myanmar Tours and China Construction Fifth Engineering.

The project area is five acres, with five high-rise buildings. In addition to condos, the project will also showcase a hotel, offices, a shopping center and serviced apartments.

There are over 1,206 condos in two categories with over 11 different unit types.

The sales price is US$280 per square foot, depending on the payment plan.

Construction commenced in January 2020, and is scheduled for completion in the middle of 2023.

The Central

The Central Housing Project is also located on Kabar Aye Pagoda Road in Yankin township. With a total of 27 stories, this ambitious project is Yangon’s first to include a shopping center.

Construction on The Central was started in 2017, and completion is estimated for mid-2020. It has been built on 3.5 hectacres of land, and includes 10 penthouses in the four main residential towers. The Central also includes one office tower.

Per square foot the price is around US$250, and varies according to the floor. There are two types of residential apartment – the first includes one bedroom and ranges from 669 to 848 square feet, while the other features four bedrooms, ranging in size from 2,558 to 3,031 square feet.

Yadana Standard Housing

This new housing project is an initiative of the Yangon Region government, located in the township of Dagon Seikkan – around 15 kilometers north east of the city. Prices average around US$69 per square foot, with a 30 percent discount on some apartments. Purchases require 50 percent down payment.

There are two types of properties available at this housing complex – 600 and 1,200 square foot apartments.

Malikha Housing

Malikha Housing, which is being built by Myanmar’s one of largest real estate developers Shwe Taung Real Estate, is located on Yadana Road in Thingangyun township. Malikha is one of the more prominent stand-alone house projects in Yangon, showcasing modern houses in a quiet location. Buyers have chance to purchase a 60-year land grant in their own name, making this a great deal for any aspiring landlords.

It is Myanmar’s first-ever smart-home housing project, so people who want to enjoy a modern lifestyle with new furnishings should not miss it.

A two-storey house on 1200 square feet of land will cost between K600 and K700 million ($415,000 and $482,000). The price may vary according to payment type.

Emerald Bay

Emerald Bay, the first and largest housing project in Thaketa township, is being constructed as a joint venture between Singapore Golden Paragon Investment Co and Myanmar Tetlan Construction Co.

The project area is 11 hectaresacres, which is over 8 million square feet. So far the structural foundations have been completed, and apartments with one to four bedrooms (with a width of 899 to 1,604 square feet) are available to buy today.

The project includes more than 6000 high-end apartments, and will be a five-star condo project for its residents. It is located at the foot of the Thanlyin Bridge, and faces the Star City project on the other side of the river.

Emerald Bay housing project includes international schools, high-end shopping centers, a sports hall, swimming pool, rooftop gardens, a Central Club and JCGV movie theater, City Mart, as well as an automated parking system.

Time City

Time City Project cannot be left out of our list, with its high-end shopping centers, office towers, hotels, serviced apartments and condos, it is one of the most popular projects in Yangon.

There are five types of units available at Time City, with condo units from the 8th to 27th floors. Jewelry Mall occupies the first five floors, with the sixth and seventh floors reserved for serviced apartments.

There are also a gym, swimming pool, gardens and an open air area for holding parties and events on the sixth floor. The swimming pool occupies the highest place, offering a beautiful over the night bazaar.

The residents each have their own car parking space per unit, and the buyers who purchase units of more than 2,000 square feet will receive two car parking places. There are 400 condo units and 50 serviced apartments, with over 95 percent of the condos already having been sold.

Source: Myanmar Times

To see the original article click link here

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Puma Energy", “MOGE”, “yangon new town”,"MECTEL", "hydropower", etc.