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Yangon Officials see High Public Interest in Land Sale

The Yangon Region government has received over the 12,000 applications for request of proposals (ROPs) for land sold by the government, a Yangon official said.

There were over 15,000 application forms issued by the government when it first announced the land sale.

The regional government started selling the ROP forms for K10000 (US$6.60) each on October 7.

The public had until November 8 to submit the forms, after which there was to be a committee buying process.
U Than, joint secretary of the Yangon City Development Committee (YCDC), said they will review the requests before announcing how many plots will be designated for commercial, residential or industrial use.

“Over 3000 forms have yet to be submitted. Our committee is classifying them,” he said.

The land for sale is in Hlaing Tharyar, Shwe Pyi Thar, the four new Dagon townships, and Myaung Dagar industrial zone in Hmawbi township.

The land will be sold at a price fixed by the Yangon Land Price Valuation Board.

Buyers have to start a business on the land within six months, and cannot sell it for at least three years.

The land lacks infrastructure, such as electricity and water supply, and buyers have to pay infrastructure fees, according to the YCDC.

“There is a lot of interest among business people, but it is not clear whether the selling process will be competitive, so we are waiting to see how the government manages it,’’ said one businessman in Shwe Lin Ban industrial zone.

Yangon Mayor U Maung Maung Soe told the media that land sold by the government is guaranteed, and these plots of land are for people who really need them.

Source: The Myanmar Times

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