Hong Kong’s H & Co Real Estate Holdings together with a local partner, Mya Bay Development Company have commenced development of Platinum Pathein project – that will work along highways connecting major tourist towns in Myanmar.
The project – to be developed at an estimated investment of $200 million – will include a three-star 155 room hotel, a plaza and some single family villas, according to iMyanmar House.
The mixed-use development will cover about 18 acres. For the second phase, the company plans to develop a chain of apartments, restaurants, gasoline stations and a car workshop.
Platinum Pathein will be about 45 minutes drive from Chaung Thar.
“The previous plan was to include three connected building apartments but the locals prefer separate buildings for residential units and shops,” said Win Win Khine, managing director of Mya Bay Development Co Ltd. He is also the founder of Khine Property Company.
iMyanmar House also facilitated sales worth K600 million, said the company.
The joint venture is also working on a luxury mixed use development named Mya Bay, to be located south of Ngwe Saung village in Ayeyarwady Region. The project will include hotels and residential units. Mya Bay is expected to cover 1265 acres and also includes a mini city, a jetty, a golf course, a private hospital and a playground.