Investments in low-cost housing projects are a bit huge: Yangon Chief Minister

Local entrepreneurs are not in a position to invest in the low-cost housing projects to be developed for around 150,000 squatters in Yangon as the capital investment is a bit huge, Yangon Region Chief Minister Phyo Min Thein said at Yangon Investment Forum 2018 held at the Union of Myanmar Federation of Chambers of Commerce and Industry on April 20.

According to the compilation of squatter lists, there are around 150,000 squatters in Yangon. It is a challenge. There are market demands for apartments. Even foreign investors will have to think too much about it. Entrepreneurs can develop the low-cost housing projects under a 30-year plan and sell them to squatters in installment. The market is ready. Yangon will become a lively city by housing the homeless at these apartments, he added.

“Squatter problem in industrial zones becomes a burden. According to the survey, squatters are not in a position to buy apartments and land though they have employment opportunities. We need to make efforts to give job guarantee to them, develop housing projects and upgrade industrial zones providing better services for water supply, electricity supply, sewage treatment and garbage disposal. Industrial zones will be established in respective townships,” the Chief Minister said on September 23, 2017.

The survey was conducted in South Okkalapa, North Okkalapa, Thingangyun, Dagon Myothit (South), Dagon Myothit (North), Dagon Myothit (East), Dagon Myothit (Seikkan), Dawbone, Thaketa, Mingalar Taungnyunt, Yankin, Kamayut, Mayangone, Mingalardone, Shwepyithar, Hlaingtharyar, Hlaing and Insein Townships.

The number of squatter houses has increased from 9,019 in 1990 to 43,985 now. Hlaingtharyar Township sees the highest number of squatters with more than 100,000 squatters, followed by Dagon Seikkan Township.

According to the list compiled by Yangon Region government, there are 110,000 squatter houses, 150,000 households and 450,000 people in four districts in Yangon.

Source : Eleven Myanmar

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