Tuesday, September 19, 2017

First two GEMS towers finished

Two of the structures are now completed at GEMS Garden Condominium, according to company officials.

A man takes a snap of the view from the GEMS Garden Condominium project. (Thiri Lu/The Myanmar Times)A man takes a snap of the view from the GEMS Garden Condominium project. (Thiri Lu/The Myanmar Times)

The development, started in 2013 by Capital Development Limited, a subsidiary of the Capital Diamond Star Group conglomerate, is now planning to finish its last two towers by the end of this year and residents can move in around 2016 summer, depending on the time getting Building Completion Certificate from Yangon City Development Committee.

Capital Development managing director U Tin Maung Win said the last two towers currently being built are due to be finished by the end of 2015.

The firm has announced it is allowing customers to pay in different installment sizes for units in the second set of towers.

U Tin Maung Win said there is increasing amounts of construction and development on property outside of Yangon’s downtown areas.

Yangon’s population is getting larger, particularly in the north around 9 Mile, company issued.

“I believe our project will be a significant one," said U Tin Maung Win.

The four 21-storey towers include a total of 584 apartments.

The towers are the first phase of the Capital City project, which is envisioned to eventually include a large shopping mall, high-quality residences and office towers on 12 acres of land.

U Tin Maung Win said the fact that the first two towers are 100pc complete indicates the firm is one that can be trusted.

Capital Diamond Star Group is one of the country’s largest firms, helmed by U Ko Ko Gyi.