A gardener picks grass by hand at the Shwe Bon Thar housing estate in Hlaing Tharyar township, August 24. The single-storey home behind him (R) and the white two-storey home beside it (C) are on sale for a low K45 million each, although they are the project’s only homes currently on the market and 71 of the remaining plots of land remain unsold. Pic: Aye Zaw Myo

THE basic infrastructure of the Shwe Bon Thar low-cost housing project in northern Yangon is about 80 percent complete, developer Eiksietan Construction Co. said last week.

“Basic infrastructure like drainage, roads, street lamps and the digging of ponds is 80pc complete. There only remain a few things to do, like some footpaths and tree planting,” Eiksietan Construction director U Aung Myin said, adding that electricity supplies were already connected.

Started in mid-2005, the entire project was hoped to be finished by the end of 2009, he said.

The 30-acre estate between Tapin Shwe Hti and Bogyoke streets in Hlaing Tharyar township is divided into 100 plots on which three-bedroom houses are to be built and sold at a projected cost of less than K50 million.

The land was bought from the Department of Human Settlement and Housing Development (DHSHD) in 2005 so has not been affected by the change to income sharing ratios imposed on private-sector developers in June 2006, which saw their share of income from projects on government-owned land fall by at least a quarter.

U Aung Myin said the location meant Eiksietan could offer good value for money and would itself be a drawcard as Hlaing Tharyar township continued to develop economically.

“We decided on this project because for K45 million you can only get an apartment in the downtown area, whereas out here you get a two-storey building and your own compound.

“Another reason is that with the development of industrial zones, more residential buildings are needed in this area,” he said.

So far, five of the planned homes have been built and three have sold for K45 million. While two remain at that price, future houses are likely to be closer to K50 million due to rising construction costs, U Aung Myin said.

Details vary slightly depending on location, but the average two-storey home will have 2300 square feet of floor space on a 4000-square-foot compound. It will have a living room, dining room and common toilet on the ground floor and three bedrooms upstairs – two single and one double with a bathroom attached.

Eiksietan also has a single-storey design with similar features, although U Aung Myin said the company was keen to discuss specifications with those who buy plots and would upgrade fixtures upon negotiation.

The company would like to sell plots before pushing ahead with construction but will continue building homes even if land sales were slow, he added.
The company is currently selling land for K2500 to K3000 per square foot.
There are 71 plots unsold.

There are also four smaller duplexes under construction intended for Eiksietan employees. They consist of a living room, two single bedrooms, a dining room, kitchen and a shared bathroom. Each unit is to be sold for about K10 million.
No phone lines will be provided at the project.

Buyers can move in as soon as their homes are ready.