Work is under way to prevent further flooding in 15 Yangon townships, including the six downtown townships that are worst afflicted. City authorities are spending K1 billion to remove silt and rubbish from the drains.
More than 2000 homes are to go on sale next month in three low-cost housing projects built by the Ministry of Construction in Dagon Seikkan and Hlaing Tharyar townships. The most expensive apartments, on the ground floor, will sell for K12 million, said U Min Aung Aye, deputy director of the ministry’s Rural and Housing Development Department on June 20.
January 2018 has been set as the completion date for the first phase of the Ayeyar Chan Thar luxury housing complex in Dagon Seikkan township. Phase one of the project is now about 40 percent complete, said spokesperson Daw Hla Thuzar New yesterday.
As a city-wide suspension on high-rise projects continues, developers in Yangon say they will have to pay penalty fees to buyers for failing to complete their projects on time and may be forced to default on their bank loans.