Mandalay Golden Wings Construction company last week unveiled plans to build the country’s tallest building in Yangon’s Mayangone township.
The company has started work on the US$60-million, 34-storey Diamond Inya Palace building on a 2-acre block near Inya Lake, and expects to finish by the end of 2015, a Mandalay Golden Wings spokesperson said last week.
The spokesperson said the project would be funded entirely by Myanmar investors.
“This site will be wholly owned by MGW Construction and we expect work will be finished in December 2015,” said Ma Khin Ohnmar Tun, the company’s senior sales and marketing manager.
“We’re expecting to sell rooms to both locals and foreigners,” she added.
The building will occupy a block that was formerly the Ministry of Industry’s (1) towel factory at 2 U Htun Nyein Street, near the Inya Lake Hotel. Ma Khin Ohnmar Tun said MGW bought the site through a recent government privatisation auction but she would not reveal how much the company paid for the block.
The building will have an “L” shaped design and will include 406 residential apartments, six floors of car parking, a spa, gym, mini theatre, mini market and a swimming pool. There will also be four penthouses on the top floor of each building that will have panoramic views of Yangon.
Residential rooms will measure from 850-3000 square feet and sales have begun; the company is also offering hire purchase agreements through participating private banks, Ma Khin Ohnmar Tun said.
“The building is near Inya Lake so we spent months conducting soil tests to make sure the ground can support the weight. We will use a bole pile foundation,” said U Chit Swe Nyunt, chief engineer for the project.
He said Thailand-based firm Process Myanmar had drafted the design and an expert from the Asian Institute of Technology will be on hand to monitor quality control during the construction.
He added that the building will be able to withstands winds of up to 120 miles (192 kilometres) an hour, and survive earthquakes up to 8.5 on the Richter scale. The development will include CCTV cameras and 14 elevators.
“We’ll prepare for fires with smoke alarms, smoke detector, fire extinguishers and every room will have a fire alarm. There will also be a 340,000 gallon water tank,” U Chit Maung said.
MGW Construction is the developer of Yadanapon Diamond Plaza, the biggest shopping mall in upper Myanmar.