fbpx

Joint Approach Coming for Low-Cost Housing Projects

Government will enter into join ventures with businesses to stimulate low-cost housing projects on public land, according to the Department of Human settlement and Housing Development.

In an effort to stimulate construction of needed low-cost housing, public-private developments will be allowed on government land, the department said.

Land will be provided by the government and the Construction and Housing Development Bank (CHDB) will offer long-term mortgages, while the construction association will oversee house building, said Min Htain, director-general of Department of Human settlement and Housing Development.

(CHDB) will offer an installment system for the low-cost and affordable housing apartments.

A pilot project is now underway to build 700 low-cost apartments in three major cities, with 50 per cent of the project scheduled for completion in 2018, according to the department.

The Yangon Region is to see 400 apartments, 200 in Nay Pyi Taw and 100 in Mandalay. The construction will be phased, Min Htain said.

 

Source: Eleven Myanmar

 

To see the original article click link here

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