Golden City Partners with Yoma Bank to Offer Luxury Condo Units Under 15-Year Home Loan
Attractive Financing Program Allows Buyers to Enjoy High-End Residential Units with Instalment Plans Starting from USD 1,000 Per Month
Yangon, Myanmar – September 29, 2017 – Golden Land Real Estate Development Co., member of ETC Singapore LTD., partners with Yoma Bank to offer a 15-year home loan program to enjoy high-end units in its Golden City exclusive project, located in the fast-developing Yankin township near Inya Lake.
With this partnership, buyers will be able to purchase luxury Golden City residential units after applying for home loan on the 70% of the residential unit price. The price range for the residential units starts from USD 150,000 for the single room unit (517 sq. feet) up to USD 600,000 for the four-bedroom unit (1,980 sq. feet) and with the recently launched special home loan program by Golden City, the instalment plan will start from just USD 1,000 per month.
“The program will offer more opportunities for Myanmar citizens to become part of our grand-scale and exclusive Golden City community. People here should be able to enjoy their own high-end residences and have access to a whole new level of world-class comfort and facilities”, said Mr. Tan Thiam Hee, CEO of ETC Singapore LTD.
This is 15-year home loan program is the first cooperation between Yoma Bank, one of Myanmar’s leading banks, and Golden Land Real Estate Development Co., that was offering a 48-month payment plan for the purchase of its residential units at no interest until now.
“Yoma bank is honored to be partnering with Golden City to present our Yoma Bank Home Loan Programs. We look forward to satisfying as many Golden City's potential buyers with the flexible, affordable, and convenient repayment options,” said Yoma Bank’s Chief Performance Officer Mr. Murray MacDougall.
Golden Land Real Estate Development Co. will also provide a special promotion for the first 30 units sold, with a special annual interest rate.
About Golden City
Golden City is a project developed in Yangon, Myanmar by Golden Land Real Estate Development Co. Ltd, a member of ETC SINGAPORE LTD, listed on the Catalist board of the Singapore Exchange Securities Trading Limited. Golden City project was launched in March 2014 and with a total investment of $290 million is considered the first completed luxury condominium development in Yangon and thus, one of the leading real estate developments, representing a new landmark for Myanmar as the country’s first grand-scale, exclusive community.
Golden City is strategically located near the breathtaking Inya Lake and with views of the famous Shwedagon Pagoda. It offers a world-class architectural residential unit design, with high-end services and facilities, including a swimming pool, a fitness center and a children amusement center. In addition, the project will also include grade A office space, a luxury hotel, high-end serviced apartments and a shopping mall on a stylish commercial street.
About Yoma Bank
Founded in 1993, Yoma Bank is Myanmar's most progressive domestic bank. Over the past few years, Yoma Bank has made significant investments in strategic priorities - people, technology and corporate governance. Yoma Bank is Myanmar's fourth largest bank by assets with 3000+ employees and 72 branches across the country. Yoma Bank was the International Finance Corporation's (IFC) first direct investment in Myanmar in 2014 and it benefitted from a comprehensive 3-year advisory package to upgrade credit risk management, finance, treasury, product development and to procure a new core banking system (Misys Fusion Banking Essence). Yoma Bank also receives ongoing technical assistance from GIZ, the German development agency, to improve and expand our SME lending. In 2015, Yoma Bank formed a strategic partnership with Telenor (Myanmar's largest foreign Telco) to develop nationwide digital financial services through the formation of Wave Money, a mobile financial services company. Yoma Bank has benefitted from a significant grant from LIFT, a multi-donor, UNDP administered trust fund, to expand agribusiness finance to Myanmar's underserved agricultural community - a key segment in Myanmar’s development. Technical assistance for this program is provided by Rabo Bank, a Dutch agricultural bank. Yoma Bank is committed to financial inclusion in Myanmar.
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