Dec 5, 2014

Thilawa Real Estate to be Up for Grabs

Statements issued by Myanmar Thilawa SEZ Holdings Public Company (MTSH) have indicated that the residential and commercial buildings in the Thilawa SEZ area are likely to be put up for sale near the end of next year.

The company is planning to launch the construction of the residential and commercial infrastructure for the development of the urban part of the SEZ with provisional engineering and land reformation procedures already taking place following agreements on land allocations.

“We expect the project to be attractive to the public and we intend to launch the sale at the end of next year,” said U Win Aung, president of MTSH.

With quality infrastructure and other factors attractive to investors, the SEZ has received many early bids from international companies from Japan, the United States, China, Australia, Hong Kong and Singapore to invest and build factories in the SEZ, he said.

The residential and commercial area being implemented by the company will include dormitories, offices, banks, hotels, shopping centers, sport centers and villas as well as public services including police stations, fire stations, hospitals and clinics.

The buildings will maintain a scenic sky line with the highest buildings being 16 stories high. A water purification system has also been installed, according to U Thein Han, managing director of MTSH.

Egis Consulting Pvt Ltd from India has been selected among the six firms from Asia and Europe invited to bid for designing the residential and commercial area construction project.

The firm has drawn up the principal design for the project and is addressing the details of the design while the contract for the construction will be awarded through a tender process.

Source: Myanmar Business Today

 
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