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Kan Thar Yar Mixed Use Development to be Completed in Early 2018
Sep 12, 2017 Source : Myanmar Business Today
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The Kan Thar Yar Center mix-use de­velopment project at Thein Phyu aims to fin­ish production by March 2018, U Kyaw Khaing, Managing Director of Asia Myanmar Consortium Development (AMCD), told Myanmar Business Today.
        “The project consists of four towers that include residential apartments, offices, a five-star hotel, and shopping centers. One of the towers is a $30 million AMCD invest­ment that we’re intending to finalize before the end of 2017,” U Kyaw Khaing added.
        The $157 million devel­opment is owned by Asia Myanmar Shining Star Company, a joint venture between Yangon-based Asia Myanmar Consorti­um Development Compa­ny and Hong Kong-based Shining Star Investment Company, he added.
        The residential apart­ments normally range from K300 million to K900 million per unit and 75 residential apartments have already been sold through real estate expos.
        “The buildings have 25 stories, 132 units, and range from 1,485 square feet to 1,608 square feet. Under a promotional plan, we’re knocking 0.05 percent off prices for units below the 11 floor and in­creasing prices by 0.05 percent for each apart­ment above,” U Kyaw Khaing, said.
        The developers are work­ing with Ayarwaddy Bank and Yoma Bank to offer residents a 10-year install­ment payment plan with 10 percent down up front.
        Asia Myanmar Consor­tium Development Com­pany and Shining Star Investment Company jointly won the govern­ment’s tender for the pro­ject in 2012.
       

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