68 Residence is an ongoing USD 150 million residential project located at a 1-acre plot the corner of Sayarsan Street and Kabaraye Pagoda Road in Bahan township, Yangon.
The project is developed by local company United GP Development which is an property development arm of Golden Palace Jewellery group.
It will comprise a residential tower and a serviced apartment tower which will be managed by Ascott as a Somerset branded property.
Construction and Design
The building is 26 and a half storey, designed by Zone Architects from Malaysia. The civil and structural engineering is done by Perunding YH Wan and Kumpulan Sepakat Konsult from Malaysia is incharge of quantity surveying.
A USD 95 million construction contract was awarded to Soilbuild Group from Singapore in April 2016. Surbana Jurong from Singapore will manage the project.
There will be a total of 222 apartments in the residential tower including three penthouses and 153 units in the serviced apartment building.
Carpark will take up from basement level four to floor three. The rest of the floors will be apartments and serviced apartment units.
Facilities such as swimming pool and gyms will be on the floor 26 and the rooftop. The building is equipped with 8 lifts.
Construction work on the project started in mid-2014 and is expected to complete in April 2018.
Sales and pricing
The developer launched the sales of apartments in February 2014 which makes this one of the earliest luxury level condominium sales launches in Myanmar.
The pricing begins from USD 369 per square foot. The payment plan is 30% upfront payment with the rest followed by monthly instalments for 24 months.
