A "symphony of commercial viability and affordability" is within reach for the Myayinanda Affordable Housing development providing it is planned correctly, Colliers Myanmar says.

Myanmar Business Today reported last week that more than 500 apartment units from the project - developed by Mandalay City Development Committee - would be sold for the fourth time this year.

It comes after the committee sold 580 units from the project in June, with the apartments quoted at K28.84 million for 661 square feet ground floor apartment, K25.75 million for first-floor apartments, K23.115 million for second-floor apartments, K21.115 million for third-floor apartments and K18.025 million for fourth-floor apartments.

Planned in two phases and comprising more than 1,200 units, Myayinanda is one of Department of Urban and Housing Development (DUHD)’s initiatives to fulfil growing housing needs.

Colliers Myanmar Manager HponeMyint Thu said the location of the apartments meant they were well placed to benefit from upcoming infrastructure development in the area.

"The fact the project is only a 20-minute drive away from the downtown historic Mandalay Palace and a 10-minute drive from Mandalay-Lashio Road, that also connects with a scenic hill town Pyin Oo Lwin, may help DUHD tout it better than some of its projects in Yangon," he said.

"Furthermore, future infrastructural propositions such as Muse-Mandalay high-speed railway, that is anticipated to start from Myit Nge Station in Amarapura and then circle around the nearby Patheingyi township, is likely to bode well for the project.

"Should Ye Dagun Taung City in the East remain on track and materialize, Mya Yee Nanda and the likes, now on the outskirts of Mandalay, will perhaps even become a new city centre in time.

"A symphony of commercial viability and affordability is within reach if planned strategically." 

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