The Diamond Inya Palace condo could be the tallest building in the country if its full 34-storey plans come to fruition, according to project developers.
Located on U Tun Nyein Street in Mayangone township to the northeast of Inya Lake, the project has already received the green light from the Committee for Quality Control of High-Rise Building Projects (CQHP), said U Kyi Htay Aung, executive director of the developers, Mandalay Golden Wing.
“When there will be a high-rise built, it needs permission from the Yangon Region government,” he said.
Although a host of building plans have been announced, Diamond Inya Palace claims it is currently set to be the tallest. However, there are other plans for buildings of similar sizes, though Diamond Inya Palace officials say their project edges out the others.
The current largest building by number of storeys is Centrepoint Tower at 25 stories, followed by the Sule Shangri-La at 22 storeys and Sakura Tower at 20 storeys, according to U Than Myint, chair of the CQHP.
So far, Diamond Inya Palace has largest plans to have received the committee’s approval, and is also bigger than existing structures in the country, making it presently the tallest building project cleared to proceed inside the country.
“Diamond Inya Palace will be larger than these buildings, once it’s complete,” he said.
Although Diamond Inya Palace developers did not reveal a size measured in feet, assuming 10 feet per storey the building would be about 340 feet.
Diamond Inya Palace will contain 400 units, with the first seven floors used as a car part for 500 vehicles. The project was begun in 2012, and there are seven completed floors, with the whole project expected to be completed in 2016.
A selling point is three-way views of Inya lake, Shwedagon Pagoda and the city, said Uyi Htay Aung. The developers have begun selling units, claiming that 211, or slightly over half of the total, are reserved. Unit prices are between K300,000 and K400,000 a square foot.
Mandalay Golden Wing general manager U Myat Ko Ko Lay claimed the building will offer five-star service to its buyers.
“Also our buyers are going to own the land collectively, and when the condominium law comes out, we will divide up the land to buyers,” he said.
There will be special facilities for condo dwellers on the ground, sixth and 22nd floor of the building.
Payments are to be made with 50 percent due seven months after buying and the remaining 50pc due after the 34th floor is added.
In 2012, the developer said they aimed to have the Diamond Inya Palace project wrapped up by the end of December 2015.
Myanmar has seen a large number of skyscrapers planned, particularly in Yangon, though projects have also been announced for smaller cities such as Mandalay and Taunggyi.
The increased interest in taller buildings has also led to some discussion about ensuring safety standards are followed in the larger developments.
Source: MYANMAR TIMES