AMCD launches sale of Kanthayar condominiums in Yangon

A photo shows an aerial view of Yangon City with Kanthayar condominiums and high-rise buildings in Yangon.
A photo shows an aerial view of Yangon City with Kanthayar condominiums and high-rise buildings in Yangon.

The Asia Myanmar Consortium Development has launched the sale of condominiums from the Kanthayar project, which was successfully implemented with an investment of US$25 million, according to the AMCD.
The sale is currently on at the office lobby of the Kanthayar Residence, located on the corner of U Aung Myat Street and Kanyeiktha Street in Mingalataungnyunt Township, downtown Yangon. The sale was launched on 5 April and will continue till 7 April. The Yoma Bank is offering a 25-year loan to condominium buyers.
U Kyaw Khine, the chair of the AMCD, said buyers will get ownership of the apartments in keeping with the Condominium Law. “This was not a build-operate-transfer (B.O.T) project. This was a joint project with the Yangon City Development Committee. Hence, condominium owners will have rights provided by the law, including the right to mortgage their apartment with the bank,” he said.
Initiated in 2015, the Kanthayar project is now complete. The residential tower has 132 units, of which 100 units have already been sold. The current sale has been organized for the remaining 32 condominium units. The units are priced at K150,000-K200,000 per square feet.
U Nay Min Thu, the managing director of iMyanmarHouse.com, said only condominium apartments from the Kanthayar residential tower near Kandawgyi Lake have been put up for sale.
“Yoma Bank’s home loan services are available for buyers to purchase the condominiums on a 25-year instalment plan. In addition, apartment owners may join Slade Property Services Co. Ltd. for rental services,” he said.
The Kanthayar Center includes a residential tower, an office tower, service apartments, a five-star Wyndham hotel, a shopping center, and a JCGV cinema. —  Aye Yamone (Translated by Khaing Thanda Lwin)

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