A graphical representation of Tritone project by Hanwha in Yangon.
After obtaining approval from the Myanmar Investment Commission (MIC) in August, both developers and engineers at the Korean Hanwha Group are now working on the realisation of “Tritone”, a mixed-use and residential complex, in the 8-Mile area of Yangon.
Since its foundation in 1952, Hanwha Group has developed to one of the largest and most diversified business conglomerates of South Korea. The group has a global footprint with business activity predominantly in Asia, Europe and North America. The firm gained experience particularly in city development and is, for instance, currently constructing the “Bismayah New City” with around 100,000 residential units in the outskirts of the Iraqi capital Baghdad.
On the two acres of land for the Tritone Project, two 30-storey residential buildings and a 22-storey mixed-purpose tower will be erected on a six-storey podium comprising a shopping mall and recreational facilities and five basement levels for parking. The prospective launch of construction will be end of November.
“To residents of Tritone, we provide high living standard, top-notch amenities such as even an indoor golf driving range as well as a high quality management system – overall a high-end product – at one of Yangon’s new urban and business hotspots,” Joo Han Kim, chief representative of Hanwha Corporation, told Myanmar Business Today.
Regarding the interior design of Tritone, the developer Hanwha and its partner, Kiahn Architects and Associate Inc, particularly aimed at reducing dead space inside the apartments. Exceptional features of the exterior design are not only the minimum three balconies per unit, but also a stone façade for thermal insulation.
“One of our main objectives in the Tritone Project has been to set a benchmark for energy-efficiency and environmental friendliness in Myanmar: Solar panels on the roof of all three towers provide back-up energy for the public area and the basement parking. In addition, pair-glass windows as well as a stone finishing with a layer of air significantly reduce the energy consumption particularly of the air-conditioning system”, said Joo Han Kim.
He said the $150-million Tritone project does not only represent a first step for Hanwha as a company on the Myanmar market, but also a significant milestone in terms of urban development of Yangon’s North.
The Yangon City Development Committee (YCDC) intends to transform the area around the junction of Yangon’s two major North-South traffic axes, Kabaraye Pagoda road and Pyay road, into a business district to mitigate further congestion in the downtown CBD area.
From: Myanmar Business Today