Asia Bright Land to build Mandalay condo

A new condominium project in Mandalay is being planned by Asia Bright Land Development Company. It will be known as Khayae Residence, according to a brochure by Yangon-based creative design company Visible Project.

The condominium will be designed by Singapore SPC Consultants and built by Asia Speed Construction Company, according to the brochure. Global High Tech Company and CPL Engineering Service from Singapore will be responsible for the engineering.

The project will be built on the corner of Theik Pan Street and Khayae Street in Mandalay, three minutes by car from Mingalar Mandalay, a 46-acre mixed-use project which is being built by CAD Construction, New Star Light Construction and Mandalay City Development Committee.

Khayae Residence will include 10 floors of residential units, with five units on storeys two to nine, and two penthouse units on the tenth floor. Each of the standard units will have two bedrooms and a maid’s room, according to the floor plan in the brochure.

In addition, the development will include facilities that are standard in Yangon but more unusual in Mandalay, including a roof-top swimming pool, a gym, a function hall, car parking, and 24-hour power and water. The project is due for completion in October 2016.

The company is offering a 17-month payment plan, with 5 percent to be paid in the first and second months, and 6pc to be paid every month for the remaining time. Buyers offering a down payment of 95pc of more will be given a 15pc discount.

Asia Bright Land Development Company was approved by the Directorate of Investment and Company Administration in December last year according to the government website. The company could not be reached for comment.

Aside from developments as part of the Mingalar Mandalay project, the city currently only has one condominium which was built by Mann Myanmar Construction in 2013.

This was the only high-rise residential development anywhere in the country aside from in Yangon until last year. However, since late 2014, a handful of companies have made plans to build high-rise projects in several towns across Myanmar.

Source: Myanmar Times

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