Singapore, 12 July 2018 – Real estate management group LHN Limited (“LHN”, and together with its subsidiaries, the “Group”), has today entered into its first management service agreement with Mother Construction Co., Ltd, a local well-established property developer in Yangon with over 20 years in the industry, to renovate and provide property management and leasing services to a serviced residence in Yangon (the “Management Service Agreement”).
Located at 137 Upper Pansodan Road, Mingala Taung Nyunt Township (hereinafter referred to as the “Property”), close to Yangon Central Business District and within the proximity of the scenic Kandawgyi Lake, the 13-storey property will be renovated to a premium serviced residence complex comprising 88 one-bedroom units (65 sqm per unit), a rooftop cafe, a modern well-equipped gym with hot bath facilities and a convenience store. The serviced residence is expected to be operational in early January 2019 and will be managed under the Group’s 85 SOHO serviced residence brand.
Mr. Kelvin Lim, Executive Chairman and Group Managing Director of LHN Limited, is upbeat about the achievement: “This Management Service Agreement marks a milestone in the Group’s expansion plan in the region. It proves the success of the 85 SOHO serviced residence concept and our stable growth in Myanmar market.”
The Property is to be designed to incorporate the smart-home concept. All units come with a full suite of smart functions including digital lockset, smart lightings and air-conditioning controlling system, and washand-dry toilet system.
Ms. Chong Ching Yeng, Senior Regional Marketing Manager of LHN Group, said, “Taking care of the wellbeing of residents is in the core of our business. That’s why we aim to create a model for residential use which brings the utmost convenience to the residents every day during their stay. Along with the safety and comfort of the smart home technology, our residents can also enjoy housekeeping services, 24-hour security services, concierge services and airport transfer services, that can help them save time to focus on important business and family matters.”
The brand, 85 SOHO, first took off in Yangon, Myanmar, in 2015, establishing itself as a premium residential service provider which offers modern living spaces that double up as a home office, i.e. Small Office Home Office (SOHO) apartments. 85 SOHO is popular among expatriates seeking a conducive environment for business.