LSC-FMI Co Ltd, a joint venture between local conglomerate First Myanmar Investment Co Ltd (FMI) and Lighting Specialist Co Ltd (LSC), said it has launched the sales of units at KrisPlaza, a $24-million residential and commercial development in Naypyitaw.
Earlier in February, FMI and LSC inked the deal in Myanmar’s capital city.
Sales are scheduled to launch from March 20-22 in Yangon and on May 8 in Naypyitaw, the companies said.
The sales launch in Yangon will be held at Novotel Hotel from 10am until 6pm. Following Thingyan (Myanmar New Year) in April, sales will kick off at the new KrisPlaza sales gallery in Naypyitaw.
KrisPlaza is expected to meet the growing demand for luxury apartments in Naypyitaw, and attract interested homebuyers and corporate executives seeking to establish a base for home and work in the country’s administrative capital, as well as, investors seeking high rental returns.
The firms said there is a waitlist of over 60 interested buyers who will be invited on a priority registration basis to visit the opening weekend of sales in Yangon.
KrisPlaza, one of the first high-end apartment complex in Naypyitaw, is located in Zabu Thiri township, and will span 1.25 acres of prime land in the capital.
The two-tower, 10-storey development will include 114 apartments, a basement car park, swimming pool, retail plaza and Yoma Bank’s new regional headquarters.
Construction for KrisPlaza is scheduled to start in March with completion earmarked for the third quarter of 2016.