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Kantharyar International 5a Commercial & Business Office Spaces

By Author: Hugo Slade
Total Articles: 8

As a commercial capital, most of the developments of Yangon occurred during its time as a British Colony from the 19th century to Myanmar’s independence in 1948. The development of real estate in Yangon accelerated following civilian rule in 2011 and the lifting of international sanctions. Since then, finalizing legislation which will allow foreigners to own a maximum of 40% of a condominium development, amending the Myanmar Companies Law so foreigners can own up to 35% of a Myanmar company and remain a Myanmar company, this law is scheduled for enactment in August 2018.

Kantharyar Centre is the latest milestone development in Yangon, and will consist of four towers; a 5A class office tower - the first in Yangon, a Wyndham 5-star hotel, a 23-storey residential tower and a serviced apartment tower, all interconnected by a 2-storey 6,000m2 international standard shopping mall.

Located on the south-eastern edge of Kandawgyi Lake, within the new developing heart of Yangon, Kantharyar will have views overlooking the Kandawgyi Lake and of the Shwedagon Pagoda. The location of the Kantharyar Centre avoids much of the noise and traffic congestion since the area is predominantly residential.

Demand and Supply

The demand for properties meeting international standards outstripped supply at the beginning of this century. Later on, with the government encouraging investment and record high prices, supply sectors outpaced demand, leading to a softening in prices. This allowed buyers to prefer properties meeting international standards. Kantharyar Centre is the first grade 5A office tower in Yangon and the newest residential and serviced apartment units that will make parking easier with the provision of 600 parking spaces.

Commercial Space

Yangon is the home to numerous landmarks such as Sule Pagoda, Mahabandoola Park, Independence Monument, City Hall, Scott’s market and the Yangon Stock Exchange. The Kantharyar Center will add an additional 38,000m2 of international standard office area and will improve travel times.

Retail Space

Modern retail space within a modern shopping mall is a new concept for Yangon and has been developed only over the last five years. The Kantharyar Center will add 6,000m2 to these retail spaces and offers the opportunity to secure prime retail floor space no longer available in other shopping malls. The international standard property in Yangon provides the opportunity to secure more prime floor space that is no longer available in any other shopping malls. Moreover, international five-star hotels are associated with the development of retail space, and the Kantharyar Centre will have the first Wyndham Hotel in Yangon.

The author of this article is the leading expert with great knowledge of real estate in Yangon. He has over a decade of experience in the industry and writes about the latest trends and updates in the real estate market. Visit http://sps-myanmar.com/ for more information.

Total Views: 8Word Count: 476See All articles From Author

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