Middle-income City Loft properties now on sale to the public

19 January 2019
Middle-income City Loft properties now on sale to the public
Serge Pun, left-centre, at the signing ceremony. Photo: Yoma Land

Yoma Land today announced that sales of City Loft @ StarCity are officially open to members of the general public. 

City Loft @ StarCity will be built on a 22-acre master-planned site at StarCity in Yangon’s Thanlyin Township. The project targets the underserved middle-income market in Yangon and combines a competitive price point with mortgage repayment terms of up to 25-years, making homeownership accessible to many who would traditionally be priced out of the real estate market.

The announcement was made this morning by Serge Pun @ U Theim Wai, Executive Chairman of Yoma Strategic Holdings Ltd. and First Myanmar Investment Public Company Limited, during a ground blessing and contract signing ceremony which also saw A1 Construction Company Limited (“A1 Construction”) appointed as the primary contractor for the development. 

“Today is a significant milestone for Yoma Land as we officially launch City Loft @ StarCity to the general public, in doing so we aim to bring homeownership within reach of many who would traditionally be priced out of the real estate market. It brings me great pleasure to see the results of many months of hard work and planning culminate in this launch. As we push forward with the project, I would encourage as many people as possible to contact our sales team and find out how they can help secure their financial futures with City Loft,” said Serge Pun.

“We return the sentiment of Mr. Serge Pun and are proud to have been selected for this landmark project by a prestigious developer like Yoma Land. With our vast experience and commitment to high quality and advanced engineering we are very well placed to deliver on Yoma Land’s vision for City Loft @ StarCity, providing modern living standards which will allow the community here to thrive,” said Daw Yee Wyne Oo, Managing Director, A1 Group of Companies.

The project will be developed in phases, with units in the first phase handed over to buyers in the first quarter of 2020. City Loft @ StarCity offers open plan studios, a first in Myanmar, as well as one-bedroom, two-bedroom and three-bedroom apartments. Residents will enjoy various commercial, recreational and social amenities, with plans in place to construct a swimming pool, gymnasium, garden area, retail plaza, YBS bus terminal and jetty for water ferry services.

“I’m also pleased to announce that A1 Construction, one of Myanmar’s leading construction companies will come on board as our primary contractor for the project. Together, we will deliver on our vision for City Loft @ StarCity, offering modern homes in an inclusive community. This is very much in line with Yoma Land’s broader mission - to Build Better Communities for the Future of Myanmar,” added Serge Pun.

Studios and apartments in City Loft @ StarCity’s first phase will range in price between MMK 42 million and MMK 160 million depending on size and specification. The City Loft offering further combines favourable mortgage repayment terms with domestic banks. Interest rates are set in line with the Central Bank of Myanmar and buyers are able to make a 30% deposit with the remaining 70% payable over 25 years. Once the deposit is made, buyers can own a City Loft studio apartment for as little as MMK400,000 per month.