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Plans underway to issue construction permits to condo license holders in Yangon

Plans are underway to issue construction permits to the companies that have received condominium establishment licenses in Yangon Region as soon as possible, said Yangon Chief Minister Phyo Min Thein.

“We are trying our best to issue permits as quickly as possible. We are cooperating with the Ministry of Construction in accord with the condominium law. The condominiums are the most in Yangon. We will make efforts to be able to start issuing permits as quickly as possible,” said Yangon Chief Minister Phyo Min Thein.

The licenses of establishing condos were already issued to the companies in Yangon Region, but construction permits have not been given to them.

The condominium management committees were formed in Kayah, Kayin, Chin, Mon, Rakhine, Shan States and Yangon, Mandalay, Sagaing, Taninthayi, and Ayeyawady Regions at the end of 2018.

Among the 11 management committees, Yangon started issuing licenses to construction companies for the first time.

The condominium law was enacted at the end of June in 2016. The condominium means six-story building and above. Those buying the condominium are allowed to own the shared areas under the condominium law. The apartments not more than 40 % of the condominium are allowed to sell the foreigners.

Source: Eleven Media

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