Another luxury villa project has been slated for Ngapali beach, a sign that the country’s fledgling luxury holiday homes market continues to go from strength to strength.
Secret Diamond on Ngapali is the sum of a joint venture between South Korean firms, Kuko, Junglim and HEOH, and local company City and Nature Service.
The villa will contain 13 luxury units which come in three different configurations. All of the three bedroom units will have a private swimming pool, while the 2.5 acre compound will host a library, restaurant with cafe and bar, a clubhouse, gym andprivate boat dock.
The project is slated for completion within two years.
Beachfront villas like those on the islands of southern Thailand are becoming more common on Myanmar’s west coast as the country’s elite develops an appetite for international-standard holiday homes.
The coastal town of Pathein, south of Ngapali beach, has in recent yearsattracted several high-end real estate developers.
The first batch of villas from these projects is set to launch in December this year. The Ngwe Saung Villas project has sold 64 out of 100 units and demand is “very healthy,” said Soe Thiha Hlaing, executive director of TSC Enterprises, a consultancy working with the project’s developers.
Prices for the company’s Deluxe range of villas start from K400 million, or roughly $291,000, with cheaper options available from K290 million.
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