Korean firms to be invited to build Yangon-Dala bridge

A Tender for private companies to build a multi-million-dollar suspension bridge connecting downtown Yangon with sleepy Dala township will be called “soon”, but only for Korean firms, the Ministry of Construction’s permanent secretary said. U Kyaw Lin said a consulting company will be chosen this month to oversee the tender. “The ministry is choosing a […]

Dala real estate market stays cold

  THOUGH the new Myanmar- Korea Friendship Bridge will soon connect Dala Township with Yangon proper, the real estate market in Dala is cold, according to real estate agents who work in downtown Dala. The bridge will facilitate the transportation from Dala to Phonegyi Street in Yangon and vice versa, said U Than Htay, a […]

Less Than One Percent of Rangoon-Dala Bridge Budget Allocated to Land Compensation

RANGOON — The government paid compensation to 66 landowners on February 17 to partially cover losses to be incurred during the construction of a bridge connecting downtown Rangoon with Dala Township. The five-year, South Korea-funded bridge project, also being called the Korea-Myanmar Friendship Bridge, will cost an estimated US$168 million. South Korea’s Economic Development Cooperation […]

Dala bridge set for September signing

The bridge has been publically discussed since 2012, though construction has not yet materialised. That did not stop a wave of property speculators from piling in to the sleepy township, which is currently accessible by ferry boat or by a long overland journey. U Tin Hlaing said the plans are nearly ready to be signed, […]

KOICA signs for Dala and Bago master plans

Korea International Cooperation Agency (KOICA) has signed with the Ministry of Construction for several ambitious projects – including master plans for the north and south of Yangon and designing a national road network. The South Korean government’s grant aid arm recently signed with the minister to prepare two regional development plans, said chief Myanmar representative […]

Speculators return to Dala as bridge plans firm up

The government first released information about plans to connect Dala township with the rest of the city, across the Yangon River, in 2013. At the time, this caused a sharp rise in property prices as investors and land price speculators bought land in the hope of making money. When the project ran into difficulties and […]

Govt Measures Fail to Cool Yangon’s Overheated Property Market: Experts

Property prices in Rangoon continue to soar and government measures to cool down the real estate market in Burma’s biggest city are failing to make an impact, according to property agents and economists. They said the government should revise its property tax policies in order to stop further price rises. Currently, real estate buyers can […]

Skyrocketing real estate prices deter new foreign investment in Myanmar

Skyrocketing real estate prices could deter new foreign investment that enters Myanmar, officials and economic experts warned on Saturday. The construction project of the Yangon-Dala River crossing bridge will be suspended during the current government’s term as commercial real estate booms in urban Yangon, Dala township, President Office Minister U Soe Thein told a press […]

Myanmar Government moves to cool property market

Government officials say they are planning to introduce additional real estate transaction taxes to cool the overheated the sector. The statements follow announcements in state media last week that a tax on real estate transactions will not be lowered from its current 37 percent, despite industry pressure. Deputy Minister of Finance Maung Maung Thein said […]