Saturday, October 01, 2016
The Myanmar Times
The Myanmar Times

Resuming high-rise projects face hurdles

High-rise building developers given the green light to resume construction after a ban imposed by the Yangon Region government in May say the unplanned disruption to their projects has led to significant financial and reputational losses.

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YCDC reclaims public land from Sule Shangri-La

Yangon City Development Committee has told the Sule Shangri-La hotel to dismantle and vacate a car park and signage area in front of its entrance as part of an effort to stop private buildings from encroaching on public land.

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Peak bodies say new law needed in real estate sector

Myanmar needs a real estate services law to bolster public confidence in the sector and to allow practitioners to cooperate – and compete – with regional counterparts, industry figures say.

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YCDC tells construction firms to change designs if they want permits approved

Nearly one third of Yangon’s high-rise building projects given in-principle construction permission under the previous government have been told to go back to the drawing board and make design changes despite already breaking ground on their developments, Yangon City Development Committee said last week.

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Townships chosen for next phase of community-led infrastructure project

Two Yangon townships are among a group of 20 chosen for the next cycle of a World Bank-supported national community development program, which puts funds in residents’ hands to help construct basic services and infrastructure in rural areas.

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Property valuations set to increase: YIR

Yangon Internal Revenue says it has arrived at a fresh set of property values for the city’s neighbourhoods in which property tax is assessed. A spokesperson said the tax department was still waiting on government approval before they can be officially released, but the new valuations are higher than the current schedule being applied.

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Keppel preps fresh investment for Junction City phase two project

Local construction firm Shwe Taung Group has entered into a joint venture with Singapore’s Keppel Land to develop serviced apartments and offices as part the second phase of the Junction City project in downtown Yangon.

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Contractors association bands together with YCDC grievances

Over 500 of Yangon’s licensed building contractors met last week to debate forming an industry association, which will have a long list of policy complaints to take to Yangon City Development Committee.

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