Colliers Myanmar will represent an upcoming mixed-use commercial and residential project at one of Yangon’s premium addresses after inking an agreement with developer Noble Twin Dragons.

Situated on 2.16 acres of freehold land, Pyay Tower and the accompanying Pyay Residences incorporates an 18-level Grade A office tower, sitting on top of a five-level shopping mall, supported by a 219-unit residential tower.

The premium serviced apartments within the development are to be offered for lease and sale.

At a glance:

• Colliers Myanmar has signed an agreement with developer Noble Twin Dragons to exclusively represent the Pyay Tower and Residences to potential investors.
• The project includes an 18-level Grade A office tower, sitting on top of a five-level shopping mall, supported by a 219-unit residential tower.
• The agreement was signed at a ceremony earlier this month.

Noble Twin Dragons is the upscale property arm of the Ruby Dragon Group of Companies, whose expansion into the real estate sector has capitalized on the property growth opportunities presented by Myanmar’s progressive strides over the recent years.

On August 20, Colliers Managing Director, Karlo Pobre and Nobel Twin Dragons’ Chief Operating Officer, Jennifer Janeth signed the official partnership at Noble Twin Dragons head office in Yangon.

Representatives from Noble Twin Dragons and Colliers at the signing agreement this month. Source: Colliers Myanmar.

The ceremony was attended by the management of Noble Twin Dragons and the executives from Colliers investment and capital market division, with Colliers being tasked to exclusively represent the property to potential investors or joint venture partners.

In an interview during the signing ceremony, Karlo Pobre said the project’s key value proposition was its location along Pyay road in the middle of North Yangon's growing business district.

"We are now reassessing and revamping the project offerings, making it a more ideal investment for potential partners looking for long term opportunities in Myanmar," he said.

An artist's impression of the interior of one of the units. Source: Colliers Myanmar

Mrs Janeth said Noble Twin Dragons was excited to have Colliers on board.

"We believe in the capabilities they can bring to the table and we look forward to continue working with them on our future projects,"

To date, Colliers Capital Markets’ team in Myanmar has more than 60 investment listings across the country amounting to over USD900 million worth of investment value, consisted largely of mixed-used projects, hotels, resorts, serviced apartments, as well commercial and industrial properties and land.

Click here to find out more about Pyay Tower and Pyay Residences.

Similar to this: 

Mandalay affordable housing carries potential if planned correctly - Colliers

Developers and serviced apartment operators should be more 'creative' during COVID-19 - Colliers

Yangon investment market down but not out - Colliers