A newly formed Yangon Region government committee will make its first site visits to review suspended high rise projects today.
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The Yangon Region government will finish scrutinising suspended high-rise projects within the next week, Yangon Region’s chief minister told yesterday’s parliament session.
Luxury condominium and hotel project Golden City has denied any involvement with Chinese firm Toener Investment Group, which lists Golden City as a real estate project on its website.
The Chinese investors behind two major residential projects in Yangon are preparing to launch another huge development on a 31-acre site beside the city’s Hlaing River.
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.
A Malaysian company has cancelled plans to build a 32-storey office tower in Yangon with a local partner after the two sides failed to agree on the terms of the joint venture.
Yangon Heritage Trust awarded a commemorative blue heritage plaque to the Musmeah Yeshua Synagogue in Yangon yesterday.
Zaykabar Group opened a major residential project on Yangon’s Pyay Road yesterday that has been under development for more than 15 years.
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