Launched in August 2012, the first phase of the 46-acre project – on Mandalay’s 73rd Street, between Thazin and Ngu Shwe Wah streets in Chan Mya Thar Si township – will see 125 units, an Ocean Super Centre, and parking for 1000 cars built.
CAD Construction, New Star Light Construction and Mandalay City Development Committee are working together on the project.
“We expect this project will not only provide housing for people but will also make the area a business district,” said U Zin Min Swe, managing director of CAD Construction.
He said the companies were working with foreign experts to make sure the infrastructure is in place.
“When other new towns were built in Mandalay, there were problems with infrastructure, such as the water supply, electricity and even the sewage system.”
Sales in the four-storey building opened in April and 80 percent of units have been sold, with per-square-foot prices ranging from K100,000 to K150,000.
The second phase of the project, scheduled for completion in 2015, will see a four-star Novotel Hotel, a 114-unit condominium and a 69-unit housing project developed.
source: The Myanmar Times
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