As government engineers continue their inspections of high-rise construction sites where work has been stopped pending their review, Yangon City Development Committee has announced the suspension of existing policies and procedures for applications from developers who want to put up tall buildings in the region.
Private builders see no threat in the government’s drive to put up thousands of low-cost homes. Local developers and real estate agencies do not see any downside for the private construction industry in the plan to offer publicly funded apartments for K10 million or less.
The Yangon Region government’s review of 64 suspended high-rise projects will continue into at least next week, and the results of the inspection will only be made public once all the building sites have been surveyed, according to officials involved in the review.
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.