Oxley Myanmar, a wholly-owned subsidiary of Singapore-listed Oxley Holdings, has signed an agreement to help develop a Myanmar project.
It will provide construction, management and consultancy services to build a 20-storey mixed development in the Mayangon township in the northern part of Yangon.
Located on 3.185 acres of land owned by U Yang Ho, the project will be named Min Residence. The project will reportedly take three years to be completed.
Oxley Myanmar will be responsible for procuring all construction works at its own expense; assigning a consultant engineer for the works and appointing the architect and civil engineer; and bearing all costs relating to the construction of the project.
In addition, the company will also advise on all necessary marketing channels and materials to push sales, and conceptualise Min Residence’s design and manage its development.
The agreed land utilising cost is USD58.9 million.
Images from Oxley Myanmar’s Facebook page: Oxley Myanmar preparing for construction.
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
