18 Feb Nay Pyi Taw to get new residential, commercial complex

Written by Mizzima Published in Property Read 2437 times
An artist's impression of the Kris Plaza set for construction in Nay Pyi Taw. Photo: Yoma Strategic
An artist's impression of the Kris Plaza set for construction in Nay Pyi Taw. Photo: Yoma Strategic

Kris Plaza is a new US$24 million residential and commercial development ready for construction in Nay Pyi Taw and now open for sales, according to a press release from Yoma Strategic on February 18.

LSC-FMI Company Ltd, a joint venture between First Myanmar Investment Company and Lighting Specialist Company, announced the launch of sales for Kris Plaza, following the signing of a construction contract in the capital earlier in the month.

Sales are scheduled to launch March 20-22 at the Novotel Hotel in Yangon and May 8 in Nay Pyi Taw, at a new sales gallery close to the site.

According to LSC-FMI, the Kris Plaza will meet the growing demand for luxury apartments in Nay Pyi Taw, and attract interested homebuyers and corporate executives seeking to establish a base for home and work in Nay Pyi Taw, as well as, investors seeking high rental returns. Currently, 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.

Kris Plaza, said to be the first high-end apartment complex in Nay Pyi Taw, is located in Zabu Thiri Township, and it will span 1.25 acres of prime land in the nation’s capital. The development is located close to government and ministerial offices, the neighbouring Jade Museum, golf courses, the hotel zone, the Tha Pyay Gone Market and three hospitals.

The two-tower, 10-story development will include 114 apartments, a basement car park, swimming pool, retail plaza and Yoma Bank’s new regional headquarters.

Construction for Kris Plaza is scheduled to commence March 2015 with completion earmarked for the third quarter of 2016.