By Andrew Batt:
Details of what will be Myanmar’s tallest building – a luxury residential development – have been announced.
The Mandalay Golden Wings Construction Company has started work on a 34-storey apartment complex on land near Inya Lake that was the former home of the Industry Ministry’s towel factory.
The Diamond Inya Palace project will include 406 residential apartments, a spa, mini-theatre and a swimming pool. Construction of the US$60 million development has started and is expected to complete in 2015.
Land prices in parts of Yangon have eclipsed those in other Southeast Asian cities. Many industry watchers anticipate prices will go even higher as more property buyers and investors turn their attentions to the country.
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg
Get daily property news in Thai and English straight to your Inbox from Thailand’s number one property website. Subscribe today for free.