Thursday, August 17, 2017

Bids for Yangon low-cost apartments reach 14,000

The number of applicants of two large-scale, low-cost housing projects in North Dagon township reached more than 14,000 last week as the government prepares to announce the winners of nearly 1250 units, officials said.

Unfinished units of the Bo Ba Htoo low-low housing project in North Dagon township last week. Photo: Aung Htay HlaingUnfinished units of the Bo Ba Htoo low-low housing project in North Dagon township last week. Photo: Aung Htay Hlaing

The applicants are competing for apartments in the government subsidised Bo Min Yaung and the 114-acre Bo Ba Htoo housing projects, for which the application deadline has concluded for the first, while proposals for the latter must be submitted by March 31.

Though about 14,000 people

applied for the 448 apartments of Bo Min Yaung, just 310 had applied for the 800 homes in the Bo Ba Htoo complex as of last week.

Yangon City Development Committee (YCDC) deputy director of building engineering U Nay Win has told The Myanmar Times that unsuccessful applicants for Bo Min Yaung will automatically be considered for Bo Ba Htoo and need not reapply.

Altogether, YCDC plans to build a total of five affordable homes complexes, including those in Pin Lone, Ayeyarwon housing in Dagon Seikan and another estate at the University in East Dagon, he said. Work at Bo Ba Htoo is already some 20 percent complete, and is scheduled for completion in December.

“We will try to provide affordably priced housing in Yangon as fast as we can to help people who need to live in Yangon. We’re inviting tenders for construction very soon,” U Nay Win said.

YCDC worked with Myanmar V-Pile Company in the construction of Bo Ba Htoo housing, said Ma Mya Sandar, who manages the 114-acre project.

“Foundations are complete and we’re up to the third floor in three of the buildings,” she said.

Bo Min Yaung apartments have 160 apartments at 961.5 sq ft (86 sq m), and 640 flats at 618 sq ft (56 sq m), pricing out at K37.4 million and K25.5 million respectively.

If successful, applicants retain the option of paying off the cost in three installments of 30pc and will receive a residential permit from YCDC after the final payment of 10pc once the building is complete.