Yangon govt to build low-cost housing project to meet demand
Play
Apartments in the Shwe Linban low-cost housing project, in Hlaing Thayar Township in Yangon, will soon be sold at less than 12 million kyat (about Bt394,000) per unit, according to the Department for Human Settlement and Housing Development.
“The Yangon regional government is now discussing the sale of apartments from the Shwe Linban housing project for lower rates, at less than 12 million kyat per unit. The plans are under way,” an officer from the department said.
Some construction in the project, built on more than 20 acres, will be finished by the end of this month.
“In the first phase, we will build 32 residential buildings. Among them, construction of 10 apartments will be finished by the end of January. There are 32 four-storey buildings with six apartments in each storey,” the officer added.
An officer from the Ministry of Construction said: “We will talk with the Yangon regional government about the sale of the apartments. We don’t know exactly if the project is aimed for civil servants or the general public.”
Yangon Region Chief Minister Myint Swe said: “Worldwide investment has been flowing into Myanmar, thanks to economic reforms and increasing business opportunities. Moreover, Yangon’s population is now rising significantly because migrant workers are coming to the city for better opportunities.”
Myint Swe mentioned the importance of housing for Yangon residents. With this in mind, the regional government planned to implement low-cost housing projects, he said.
The Department for Human Settlement and Housing Development will use K500 billion ($500 million) from the state budget for construction of the apartments. After completion, the Yangon government will sell the apartments to the public.
