New location for cancelled Shwedagon project

  The Myanmar Investment Commission has given Marga Landmark approval to build its mixed-use project on a new site, after the president called off the Hong Kong-based developer’s project last year, deeming the initial location too close to Shwedagon Pagoda. The project will now be built on 17.7 acres at the corner of Kabar Aye […]

Dagon City 1 Investors to be Given New Plots of Land

Director General of Myanmar Investment Commission (MIC) U Aung Naing Oo said that investors in the cancelled Dagon City 1 Project will be given alternative sites instead. “The announcement by the President also said that the investors shall be given alternative sites. Consequently these investors were told to look for other areas as an alternative. […]

First winner coming in New City tender

Yangon Region is set to announce the winning developer for one of the seven proposed new city projects on September 22. The Southwestern New City is at the same site that was at the centre of the controversial New City proposal a year ago, when it was revealed in a surprise announcement in regional parliament […]

Confidence missing in Yangon New City

However, land speculators have been slow to express a renewed interest in the controversial project, as they fear it may be suspended again, according to real estate agents. The project will be located on an 11,716 acre site, bordered by the Pun Hlaing River, the Twante-Yangon Canal, the Hlaing River and the Hlaing Tharyar-Twante Road […]

Yangon region govt proposes K8,000 billion city development plan

The Yangon region government has its local parliament for over K8,000 billion [US$8 billion] to develop seven areas Myanmar’s commercial capital. Yangon City Mayor U Hla Myint, speaking on behalf of the regional government, told parliament that urban development projects will be implemented in the eastern and southeastern parts of Yangon, as well as in […]

Regional government rejects proposal on controversial property projects

The Yangon Region government has shot down a proposal to suspend or cancel controversial property projects near Shwedagon Pagoda, as a committee of monks announced they intend to stop the projects from going ahead. The five multi-million-dollar developments just south of Shwedagon were halted in January by the Myanmar Investment Commission amid zoning concerns. Bahan […]

Business complex for Yangon’s historic sporting grounds stirs up controversy

Kyaikkasan sports ground covers a vast expanse of prime real estate in the heart of Yangon that has entertained and thrilled for decades, while also concealing a darker past as a temporary detention centre used during crackdowns by the former military regime. Now the historic site, once home of the colonial-era Rangoon Turf Club racecourse, […]

Yangon auditor-general two years behind on government accounts

Two members of the Yangon Region parliament – an MP from the Union Solidarity and Development Party and one independent – are calling for the release of audits into regional government spending for the past two years. So far MPs say they have only received audited reports for spending in 2012-13 – the fiscal year […]

Yangon New City forgotten by most but residents still hopeful

The area of the once and possibly future Yangon New City project has been irrevocably changed following its announcement by Yangon mayor U Hla Myint last September 22. His surprise statement in regional parliament that Yangon would build a multi-billion dollar expansion on 30,000 acres across the Hlaing River from the main city initially set […]

Yangon zoning plan in limbo as experts push for re-start

Yangon’s zoning plan is due for a restart after contentious discussions meant the process had ground to a halt, according to U Toe Aung, urban planner with Yangon City Development Committee. “The zoning plan was recently halted as we contended with foreign developers who wanted to build high-rises,” he said. Authorities may be hesitating on […]