It was built by King Duttabaung, founder of Tharekhitaya Dynasty, at Shwedaung, Bago Division. The king and queens Peikthano and Sanda Dewi had repaired the Shwe Nat Taung Pagoda west of Shwedaung and were having a rest when Queen Peikthano dreamt of a pagoda in the north-west. They looked for the place and found it there, marked by brilliance of the lights of the Buddha. So they built this pagoda. Soon, King Duttabaung lost his superhuman eyesights. Seers said he must offer glasses to the Buddha of the right size. Hence the glasses. In 1227, Zeya Nandameik, the Lord of Shwedaung, had the Image repaired with the glasses with gold frames. So this is the only bespectacled Buddha Image in Myanmar.