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Dala property prices soar due to bridge project

After the government had approved the construction of Myanmar-Korea Friendship Bridge connecting to Dala Township, property prices have risen in a blur as rumors of small-scale industries as well as housing projects in Dala runs rampant. According to property agents and Dala locals, land prices hiked up as much as tenfold. Over a month ago, […]

Hong Kong Firm Close to Finalizing New Yangon City Proposal

Hong Kong-listed China Communications Construction Co. Ltd (CCCC) has nearly finalized its proposal for the development of US$1.5 billion (2.4 trillion kyats) worth of initial infrastructure for the controversial “New Yangon City” project across the Yangon River from Myanmar’s commercial capital, according to a government body established to oversee the project. New Yangon Development Company […]

Myanmar’s first dry port opens for business

KM Terminal & Logistics Ltd (KM) and Resource Group (RG) officially opened two separate dry port projects in Ywar Thar Gyi, Yangon yesterday. A dry port is an inland intermodal terminal directly connected by road or rail. Freight trains will run from Ywar Thargyi to a second dry port in Myit Nge, Mandalay, which KM […]

Yangon Gov’t Abused Its Power by Investing in Controversial New City Project: Lawmaker

The Yangon Regional government was accused of abusing its power by investing 10 billion kyats ($6.5 million) in a controversial new city project on the western bank of the Yangon River without the parliament’s prior approval. In March, the Yangon government launched New Yangon Development Company (NYDC) which is to be the developer of the […]

New Yangon City CEO Urges Gov’t to Act Quickly to Secure Chinese Investment

The CEO of the New Yangon City project said he believed the controversial project on the western bank of the Yangon River will be “a success” if Myanmar is able to take advantage of trade tensions between the U.S. and China and lure more foreign investors. “I believe we will succeed; now is the right […]

New city development needed to draw foreign investments: Chief Minister

Yangon must be developed further to free up space for new industrial zones and residences, which, in turn, will draw more foreign investors to the city, said U Phyo Min Thein, the region’s chief minister, during an August 24 press conference detailing his government’s plans for the coming quarters. The chief minister this year announced […]

Korean investments could kick start long-delayed construction of Dala Bridge

An industrial zone to be developed by the Yangon regional government and Myanmar Wooree Co, a South Korean firm, at the west bank of the Yangon River could be the impetus needed for construction of the much-touted Dala Bridge to commence. Once the bridge, which will connect downtown Yangon to the western side of town, […]

MoU for Dala Industrial Development Project Signed

The Yangon regional government and South Korea-based Myanmar Company Wooree signed a memorandum of understanding for the Dala Industrial Development Project on Saturday, a project to be implemented on the west bank of Yangon River near the ongoing Yangon-Dala bridge project in one of Yangon’s undeveloped townships according to the Yangon regional government. The Yangon […]

Can the regional government manage both old and new Yangon?

The Yangon region government has come under flak since March, when it announced the launch of a new Yangon City project at the west bank of Yangon River. If and when the first phase of the US$5 billion development is complete, it will include five village townships, two bridges, 26km of artery roads, 10 sq […]

Plenty of political will but no cash for New Yangon project

Large areas west of the Yangon River here look dark and depressed, at least from an airplane taking off or landing from the capital’s airport after sunset. In stark contrast to the city center, on the east side of the river, where high-rise commercial buildings and shiny condominiums are popping up, the opposite bank gives […]