An artist’s impression of Pansodan Tower.

CONSTRUCTION of a 12-storey colonial style residential building will begin in Upper Pansodan Street in September, says the project developer, Opal International Garment Manufacturing & Construction Company.

It is being developed in conjunction with the Department of Human Settlement and Housing Development, and designed by the Philippines-based A12 Design.

Pansodan Tower will be built on a quarter of an acre site and Opal International say building will be completed in February 2006.

“We expect the cost of the project to be K2 billion,” said U Kyaw Zin, director of Opal International Company.

He said that the building will be old-style British with thick interior walls.

“This is the first high rise developed by our company and we want to attract buyers with an antique atmosphere, and a design and style that is unlike any other in Yangon” said U Kyaw Zin.

The high rise tower will include 27 units of 1700 and 2500 sq ft, three penthouses of 2500 and 3500 sq ft, and a car park for 30 cars.

The company has not started selling the units, and as yet has not fixed prices.

“We want to focus on quality, not quantity, in this project as we want to boost our fledgling presence in the construction industry,” said U Sai Lon.

The developer will assign 20 per cent of the development to the Department of Human Settlement and Housing Development in place of payment for the land.