CONSTRUCTION of the Kanthaya Consortium Towers project is now 70 per cent complete, with a finishing date sometime in December, according to Project Director U Khin Maung Phyu.
The towers are being constructed on 3.52 acres of land located at the corner of Kanyeiktha Street and U Aung Myat Street in Mingala Taungnyunt Township in Yangon with the use of US$200 million invested by the Yangon City Development Committee and Asia Myanmar Consortium Development Co.
The construction works were initiated in late 2014 after getting the green light from the Myanmar Investment Commission.
The project covers a 25-storey residential tower with 132 units, a 22-storey office tower, a 22-storey five-star hotel and a 23-storey serviced apartment building with 171 units.
The estimated useful life of the steel structure buildings built with Singapore’s state-of-the-art technology is over 100 years, U Khin Maung Phyu said.
The project is being implemented with 20 foreign engineers, 30 local engineers and over 300 workers. It is estimated that the project will create over 3,000 job opportunities after it is finished, with the project implementers planning to carry out social activities for residents living near the project area.
Soe Win (MLA)