Home Insider Insider News The First Time-Share Project in Ngwe Saung Beach

The First Time-Share Project in Ngwe Saung Beach

Along Ngwe Saung beach in the Ayeyarwaddy division, a luxury resort project which includes villas and five-star hotel is about to start. This project is located in Bu Kwey Gyi village in Ngwe Saung and 500 metres away from the beach. It occupies over 160 acres of land. Soe Thiha Hlaing, Executive Director of TSC Enterprises, the lead developer of the project said Ngwe Saung was chosen as the project site as transportation infrastructure is relatively more developed than other beaches and the beach has a clean environment. As the country is becoming more developed and living standards are becoming higher, holiday villas can become an attractive business proportion just like in neighbor countries. Yet it is still a relatively new concept in Myanmar

The project is planned to be implemented in three phases. Each phase will last between three to five years. It is estimated the first phase will finish by the end of December 2017. During the first phase of the project, 136 villas of the same design will be built. There are 446 plots for the whole project and the showroom will open in mid January to start the sale of the ownership villas. The price of one villa ranges from 260 to 400 million Kyats. The buyer will get the land title rights. People who only want to use the villas temporarily can also rent them out during the unoccupied time.

The later phases of the project will include additional hotels and activities grounds. The project is implemented by Ayeyarwaddy Company, which is a consortium of twenty companies from different business sectors such construction and agriculture.