Hong Kong-based Shangri-La Group will open Shangri-La Residence in Yangon in the third quarter of 2013, according to sources.
The residence located near Kandawgyi Lake, one of two major lakes in Yangon, will consist of two towers with 240 flats in total.
The Shangri-La Hotels and Resorts is Asia Pacific's leading luxury hotel group.
“The deadline for completion is in the
third quarter this year,” said Phyo May Win, the communications manager
for Traders Hotel in Yangon on February 9.
The residence will provide services such
as room services, swimming pool, fitness centre, shopping arcade,
meeting and banquet facilities, massage and spa services, pastry and
wine shop, dining facilities and baby-sitting services as well as
long-term room rental service.
A recent press release from the ministry
of hotels and tourism showed that the residence will include two
high-class hotels as well as office spaces and shops.
The residence development project was suspended in 1998 due to the Asian financial crisis in 1997 and restarted in 2012.
In the years after its suspension,
rumors were widespread that it was stopped due to unusual condition of
the ground upon which the construction was existed.
The Shangri-La Group dismissed the rumors officially.
source: Eleven Myanmar
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