Yangon has seen rapid urban development in recent years with many high-rise residential and commercial buildings being constructed or renovated throughout downtown and greater Yangon. This is largely driven by increased foreign investment and increasing number of foreign companies sending in management-level teams to set up operations.
The large demand for serviced apartments in Yangon is reflected by 100% occupancy and long waiting list in all current serviced apartments, which are mostly managed by small management companies that lack proper security and service standards. It's hereby excellent timing to develop new, high standard serviced apartments in the specific location.
The project is seeking funding for construction of a 209 serviced unit hotel.
Total Construction Area (GFA) : 40,733.70 m² in 15 floors + penthouse
Total Rentable Area for rooms : 28,738.34m² (excl. parking lots : 2.963.52㎡)
Size of Units : 80 m² , 100 m² , 120 m², 140㎡, 160㎡
Rent charge per day : $100 – $210
NOI cap rate : 10% - 13% (in 10 years)
Cash flow for dividend : $1.2M US - $ 2.1M US
Total Project Cost : $46.6M US with negotiable equity/debt portion
Executive summary, calculations, and further project information:
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