Myint & Associates Snaps Aussie Embassy as Tenant at Vantage Tower
SPS
A graphical representation of Vantage Tower, a mixed-use property project in Yangon.
Local conglomerate Myint & Associates said it has signed a deal with the Australian Embassy in Myanmar to have the latter as a major tenant in the firm’s flagship development, Vantage Tower.
The deal was negotiated with the Department of Foreign Affairs and Trade (DFAT) of Australia in Canberra and will result in the relocation of the Australian Embassy from their current office on the Strand road to Levels 11,12,13 and 14 of the building, Myint & Associates said.
The Embassy will house its consular services, offices, diplomatic services and a medical centre within the 33,361 square feet (sqft) of occupied area.
“The reasons for the Embassy choosing Vantage Tower are the strategic location, the high quality building specification, the world-class supporting infrastructure – such as 100 percent redundancy back-up power and high speed fibre-optic internet connection – provided by the Tier III Date Centre, certified by the Uptime Institute of the USA, and the high-tech building management and security systems that are being implemented that make this building one of the safest in Myanmar,” Hugo Slade, managing director of Slade Property Services, claimed.
Vantage Tower, a 236,144 sq-ft (21,938 square metre) mixed-use building, is located on Pyay road.
“The signing of the lease with the Australian Embassy is a significant achievement for us. The due diligence process undertaken by the Australian Embassy was very comprehensive and detailed and I am proud of the fact that Vantage Tower both met and surpassed all expectations,” said U Soe Khine, general manager of Myint & Associates.
Slade said Vantage Tower has approximately 20,000sqft of office space remaining available for lease, with demand coming from international tenants and other Embassies.
“The property offers good value for money. Our rental rates are not opportunistic, but rather reflect the high quality of the building and the supporting facilities that no other property can offer in this market,” he claimed.
“The developer has invested a significant amount of time and resources into making sure that this property has all of the necessary car parking, technology and facilities to ensure that all tenants enjoy consistent business operation and minimum disruption,” Slade added.
