In a small bowl, combine the warm water and sugar, then sprinkle the yeast over it; let it sit for about 5-10 minutes until frothy.

In a large mixing bowl, combine the flour and salt. Make a well in the center and add the yeast mixture, sweetened condensed milk, and softened butter. Mix until combined.

Transfer the dough onto a clean, floured surface and knead for about 8-10 minutes until smooth and elastic.

Place the dough in a lightly greased bowl, cover with a kitchen towel, and let rise in a warm place for about 1 hour or until doubled in size.

Once risen, punch down the dough to release air, then shape it into a loaf or divide into smaller rolls.

Place the shaped dough into a greased loaf pan or on a baking sheet and let rise for another 30 minutes.

Preheat your oven to 350°F (175°C). Bake for about 30 minutes or until the top is golden and sounds hollow when tapped.

Cool in the pan for 10 minutes before transferring to a wire rack. Slice, serve, and enjoy.