Developers desperate to restart suspended high-rise projects in Yangon remain in limbo as a government review drags on. Members of the Yangon Region government committee tasked with conducting a final inspection on 64 buildings say they are still awaiting reports on the first 12, and will not continue inspections until those reports are in.
A month after the first site visits to inspect idle industrial plots in Yangon, officials are warning there will be no progress in freeing up unused land without a special committee that has the power and resolve to revoke the leases of absentee owners.
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.