Shangri-la Residences YangonShangri-la Residences Yangon, a twin tower project beside Kandawgyi Lake, is on target to be ready by the third quarter of this year, a company official said last week.

Shangri-La Residences includes two 21-storey towers of 120 apartments each. The apartments are surrounded by 15 acres of landscaped gardens and will offer a range of recreational facilities, including a gym, swimming pool, tennis courts and a mini mart, the developer says.

Communications manager Ma Phyo May Win said the project had been restarted – work first began in the late 1990s – to cater to the growing demand for upscale serviced apartments.

“Accommodation in Yangon is in short supply so we chose to make it a residential project when we restarted it,” she said.

However, she declined to say when an adjoining hotel project would be completed.

The Ministry of Hotels and Tourism says the hotel will include 800 rooms, along with a supermarket and offices

Shangri-La is also developing Traders Square Commercial Complex beside Traders Hotel, with a targeted completion date of 2015. The multi-storey commercial tower will offer offices, retails space and underground parking, and will be linked to Traders Hotel.