Parkland projects suspended pending plan

Yangon Mayor U Maung Maung Soe told the regional parliament yesterday that the YCDC was drafting a master plan and they would only allow projects to be carried out after it is drafted.

“Some companies have requested us to draft the master plan as soon as possible. The buildings must be located 30 feet away from the Inya Lake. We need to measure the proximity to Inya Lake and Kandawgyi Lake,” he said.

He added that the city does not want to compromise the parkland with rash development and the developer’s designs did not meet international standards.

MP Daw Sandar Min, who chairs the Planning, Economic and Financing Committee of Yangon regional parliament said that some of the buildings were located much too close to the Inya Lake area.

“The contract states that buildings that were not in compliance would be demolished,” he said.

The mayor also said that buildings which were too close to Inya Lake would be demolished and the YCDC won’t allow these buildings.

The mayor added that that YCDC cannot solve the Mya Kyun Thar parkland issue without the cooperation of regional MPs and other organisations.

The previous government had given permission to eight companies to start commercial construction projects at Mya Kyun Thar parkland in 2013, and the projects were opposed by many MPs at that time.

The allocation was as follows: Eden Group (4.79 acres), Max Myanmar Group (6.87 acres), Inya Palace (1.83 acres), Magic Land (13.86 acres), Nay La Pwint Services (2.61 acres), MGS Resort and Entertainment (4.15 acres), Good Shan Brother (7.79 acres), and Rya Ji (1.38 acres).

Former mayor U Hla Myint told the previous Yangon regional parliament that the companies will build a recreation centre under a 60-year term, with rental fee set at K12 million a year per acre.

Magic Land Company spokesperson U Myo Chit said yesterday that all projects had been suspended since October. He added that they had no idea about projects between developers and the government.

Source: Myanmar Times

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

.

Looking for foreign investors to invest in your business in Myanmar