YANGON—Apartments from the Shwe Linban low-cost housing project, located in Hlaing Thayar Township in Yangon, will soon be sold at less than Ks 12 million (US$ 12,000 ) 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 Ks 12 million per unit. The plans are under way,” said an officer from the department.
Some construction tasks in the project area of more than 20 acres of land will be finished by the end of this month.
“In the first phase, we will build 32 residential buildings. Among them, construction of ten apartments will be finished by the end of January. There are 32 four-storey buildings with six apartments in each storey,” the officer added.
“Worldwide investment has been flowing into Myanmar, thanks to economic reforms and increasing business opportunities. Moreover, Yangon’s population is now significantly increasing because migrant workers are coming to the city for better opportunities,” said Yangon Regional Chief Minister Myint Swe.
“We will discuss with the Yangon regional government the sale of the apartments. We don’t know exactly if the project aims for civil servants or the general public,” said an officer from the Ministry of Construction.
Myint Swe mentioned the importance of housing requirements for Yangon residents. With this in mind, Yangon regional government is now planning to implement low-cost housing projects, he said.
The Department for Human Settlement and Housing Development will use Ks 500 billion (US$ 500 million) from the state budget for construction of the apartments. After completion, the Yangon regional government will sell the apartments to the public.
Source: ELEVEN Myanmar