Feb 24, 2014

Singaporean real estate firm to build housing project in Ygn

The Golden City advanced housing project, including nine buildings of 33-storey high-rise apartment blocks, will be constructed over the next four years at the site of the old Central Military Account building in Yankin Township, Yangon Region, according to the Golden Land Real Estate Development Company from Singapore.

“Our company is going to construct nine buildings for this housing project. In the first phase, we will construct four buildings providing 33-storey high-rises for apartment living over two and half years. It will take more than four years to complete the whole project. We invested US$ 85 million in the advanced housing project,” said Alex Zhu, chairperson of Golden Land Company.

Five hundred of the 1,200 apartments are now being sold to the public for between US$ 250 and US$ 300 per square foot.

“The project includes a tower to open business offices and a service centre, a five star hotel and a shopping mall where customers can buy international brands. That’s why all people living in the buildings can buy the products they want without going elsewhere. But we are separating the business centre from the housing apartments. So the business people can’t go to the housing apartments,” added Zhu.

The area of the Golden City advanced housing project is 33,977 square metres. At present, the public who are living in high-rise apartments are facing difficulties parking their cars. So a car park, which is expected to accommodate nearly 2,000 vehicles, will be part of the project.

The Golden City advanced housing project is being run as a joint venture between UGP Company from Singapore and the Jewellery Luck Group.

Source: Eleven Weekly Media