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Singaporean Real Estate Firm Eyes Yangon Project

Singapore-based real estate firm Golden Land Real Estate Development Co plans to build an advanced housing project in Yangon, the company said.

The Golden City advanced housing project, which includes nine buildings of 33-storey apartment blocks, will be constructed over the next four years at the site of the old Central Military Account building in Yankin township, Yangon, according to local media reports.

“We invested $85 million in the advanced housing project,” said Alex Zhu, chairperson of Golden Land.

Five hundred of the 1,200 apartments are now being sold to the public at a price of $250-300 per square foot.

“The project includes a tower to open business offices and a service centre, a five star hotel and a shopping mall where customers can buy international brands. The business centre will be separated from the housing apartments,” added Zhu.

The area of the Golden City advanced housing project is 33,977 square metres. A car park, which is expected to accommodate nearly 2,000 vehicles, will be part of the project.

The Golden City advanced housing project is being run as a joint venture between UGP Company from Singapore and local Jewellery Luck Group.

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