An artist’s impression of the Pyay Garden Condominium.

PYAY Garden Condo-minium, Yangon’s tallest building, will be completed and open to tenants early next year, announced the project’s developer, Zaykabar Co., Ltd.

“It is completed up to 25 stories. We need to finish some exterior and interior work, but I hope it will be completely finished and ready to open by early 2008,” Zaykabar chairman Dr Khin Shwe said.

With 180 apartments on 25 floors, the tower in Mayangone township will be the country’s tallest building, residential or otherwise.

Designed by Singaporean firm ADDP Architects, work started on the first of three identical towers that were intended to make up the Pyay Garden project in 2003. Originally slated for completion in late 2005, a general downturn in the housing market delayed construction and work began on only one of the three planned towers.

Dr Khin Shwe said the building’s total cost would reach about US$10 million and, other than some bricks, sand and stone, all materials have been imported.

“We value quality. The building should meet the same standards as in Thailand and Singapore, but the prices will not be the same as in those countries,” Dr Khin Shwe said. “The amount is about 20 times less than what you would pay for a condo in Singapore.

“One foot square would cost $500 in Thailand and $2000 in Singapore, but here it only costs $100,” he told The Myanmar Times.

Buyers have the option of two- or three-bedroom apartments, measuring 1283 and 1404 square feet respectively, as well as “double volume” penthouse units. Shwedagon Pagoda is visible from every apartment, each of which comes with its own car park.

About 45 percent of apartments have been sold.

A gymnasium, hall for religious services (damayone) and canteens are included in the project, but Zaykabar is pinning hopes on a large swimming pool at the base of the building as a key selling point – though it has been scaled down from initial plans developed when three towers were to be built.

“Centred at the heart of the development, lined with tropical plants, trees, palms and blooms of exotic flowers, is the main recreational activity zone – the main pool,” reads Zaykabar’s glossy, English-language brochure.

The pool will be flanked by “extensive” sundecks and a nearby clubhouse will help make it an attractive place to hold functions, it adds.

Dr Khin Shwe said all apartments will be fitted with a security system incorporating cameras outside each unit that allow residents to see who is at the door without having to open their homes.

The Zaykabar chairman also said residents could be assured of 24-hour electricity and phone services.

“Everything is being arranged for the convenience or residents – telephone lines and electricity supplies are being set up so as to never cut out. There is a generator on standby which can even power air conditioners,” Dr Khin Shwe said.

“I hope the Pyay Garden Condominium will make Myanmar proud because of the services and security arrangements it provides residents,” he added.