Villas to add variety to Ngwe Saung Beach’s real estate offerings 

​​

Ngwe Saung beach has seen an addition in its tourism industry. Having visited the beach resort area and been impressed by the scenery on offer, iGreen Construction Co decided to launch a villa-development project along the beach, targeting families visiting the area.

The La Villa housing project focuses on people who want to have a retreat with their families at the beach over holidays and weekends, hence the word “villa”, stressing the nature of the project – building houses along the long-stretch of the beach located west of Pathein in Ayeyarwady Region.

“Ngwe Saung is one of the beautiful beaches in Myanmar. But there is still a need to increase to number of hotels and the supply of housing at the same time.

“With this in mind, we began to explore the possibility of real estate developments in Ngwe Saung. In the end, we decided to develop the La Villa project there,” Ko Kyaw Kyaw Naing, the firm’s director, explained.

The company applied to the regional government under the previous administration in the fiscal year 2015-16 for permission to construct the housing projects. The current government has green-lighted the proposal.

The 68-acre project site covers the hills in the west of Ngwe Saung hotel zone near the famous Lover Island.

“In Ngwe Saung, there are only two public areas available for beach-goers because the hotels are just a few metres away from the beach. This reduces the area of public space for visitors.

“In other countries, hotels are built in a location farther away from the beach, so beach-goers can enjoy.

“In Myanmar’s beaches … it is a limited place for those who would like to engage with nature and have fun at the seaside,” he said.

The firm also plans to implement Club House, a multi-service complex in the 1.87 acre of land near the beach to cater for La Villa residents who are expected to pay membership fees. The three-storey Club House will contain a swimming pool, numerous restaurants, meeting rooms, a kid zone and other facilities.

“For visitors who take a break in Ngwe Saung during holidays, there are hotels which charge around US$150 to US$220 for two people per night.

“Hence, we believe that there would be a market for families who are eager to relax at a villa comfortably. They would want to purchase a house along the beach. The estimated price is K60 million,” said Ko Kyaw Kyaw Naing.

At present, the company has started to construct the infrastructure, such as modifying the land and building the main roads. iGreen plans to use 50 percent of the 68-acre site for villas and another half of the total area for other purposes, including recreational parks, car parks and junctions for vehicles.

The project is expected to be completed by April 2018 and the estimated total investment needed is K35 billion. The firm will raise the capital through the pre-sale of villas. There will be a variety of models for the villas, involving normal designs and designs tailor-made for sea view. The price will vary accordingly, depending on the type and model of villa buildings and locations.

The company launched their sales promotion on February 25 and 26. Customers can pay a deposit of about K900,000 and they can pay through an instalment agreement stretching over a period of 40 months.

“We have already sold five plots … before the sales promotion launch,” the director added.

Others are equally upbeat about the expansion of resorts in the area.

“The beach stretches quite far, and there are already a few more up-scale hotels established. It [Ngwe Saung] would benefit from a wider variety of activities offered [to visitors and tourists],” said Derrick Wong, an entrepreneur who visited the beach recently.

“There is already a yacht club toward the south side which allows some water sports program for the younger bunch. Given its location and proximity to major urban areas, it’s easier and less costly to develop, particularly when it is already well known,” he added.

Another professional who visited the beach recently also shares the optimism.  “I think there’s definitely potential for villa development in Ngwe Saung,” the professional, on the condition of anonymity, remarked, “It’s full of touristic activities available, ranging from water sports to sight seeing.”

 

Source: The Myanmar Times
​​
​​

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

.

Looking for foreign investors to invest in your business in Myanmar