Create three wells in the flour and add yeast, sugar, and salt separately. Coat them with flour and mix lightly.

Mix water, milk, egg, and condensed milk together.

Add the liquid mixture to the flour and mix until a dough forms.

Add butter in two portions and knead until the dough becomes smooth.

Cover the dough with plastic wrap and let it rise in a warm place for 50 minutes until it doubles or triples in size.

Punch down the dough to release air bubbles.

Let the dough rest at room temperature for 15 minutes for intermediate proofing.

While proofing, melt condensed milk and butter in the microwave and mix well.

Brush the loaf pan with half of the condensed milk butter mixture.

Roll out the dough into a rectangle, roll it tightly like a cinnamon roll, cut into 12 pieces, and place them in the pan.

Let the dough rise in a warm place for 50 minutes for the second proofing.