ZAO property introduced its inter- national standard housing and real estate project on 15th November at Shwe Tha Pyay Yeikmon 2, Nawaratt Street in Thaketa Township in Yangon. Tony Pi- con, Managing Director, Colliers made the welcome speech followed by the presenta- tion of ZAO property and services and visits to the show houses.
The project will rent 4-bedroom serviced homes, ranging from 2700 to 3000 square feet with garden in a gated compound, with modern western style kitchens and bath- rooms, furnished or unfurnished, located in Thaketa township. For unfurnished house, the price is $4000 USD per month and it is $5000 per month for fully furnished house. Pool and gym membership per household costs $150 per month. It offers services and facilities for residents such as swimming pool, gymnasium, coffee shop, township registrations, etc., and the company office was opened at No.16 as a club house in the compound.
ZAO is a new property Management and Service Company, founded by long term Yangon expats and local businessmen. The properties consist of 40 homes in a gated community in Yangon and the homes have been renovated to international standard. Home interior designs are done within 2-3weeks depending on customers’ demand. Managing Director of ZAO property, Phyo Zar Thwin said, “I moved here in February and there are some vacant houses nearby. So I started doing business as an opportuni- ty. Then, my friends also moved here.”
She also said, “Here is the hidden spot, only few people knew the place. We can get fresh air and less air pollution than downtown here because it is near Yangon River. I start-
ed to form a community, create social inter- actions between good neighbors and also offer value for money. It is also safe for chil- dren who can play and ride bicycle in the evening. Children who touch the grounds oftenly are healthy. ZAO property is conve- nient for people who want to live with the community and family.”
A resident said, “I live in No.181 at Apart- ment no.18 by around USD $925 per month. My wife and I worked in Singapore and we
also rent a room by sharing an apartment there. In Singapore, it costs at least Singa- pore $900-1,000 for a king size room. Here is similar like that. The advantage of living here is that it has day and night security at the gate and also quiet.”
ZAO focuses especially on foreigners partic- ularly those with family than singles. Even for a single, the charges are cheaper than ho- tel and the room can be locked up, according to the resident who is also an employee at
the ZAO property.
It takes about 5mins to Capital HyperMart, 10mins to Ocean Supermarket (East Point), 15mins to downtown, 19mins to Shwedagon Pagoda, 30mins to Yangon International Airport and 32mins to Hledan by car, ac- cording to their research.
ZAO was established to fill a niche market in Yangon housing market which has become very expensive simply because demand out- strips supply.
