Once-Cancelled Dagon City 1 Project Relocated to New Site

RANGOON — The government has relocated a controversial international development project to a new site after it was suspended seven months ago following a public outcry over its proximity to the Shwedagon Pagoda.

The Myanmar Investment Commission (MIC) on Friday approved a new 17 acre site for Marga Landmark’s Dagon City 1 mixed use project, one of five that was suspended last year, according to a commission official.

“We have approved a new site proposed by Marga. The land is owned by the Ministry of Science and Technology at the corner of Kaba Aye Pagoda and Kan Be road,” said Min Zaw Oo, a deputy director from the MIC.

Marga Landmark’s Dagon City 1 was one of five planned developments that the government cancelled on July 7 last year after critics of the projects claimed that such a major undertaking so close to the pagoda could cause structural damage.

The cancellation announcement also stated that the government would continue negotiations with investors to ensure that they were fairly compensated for their losses.

The approval on Friday of Dagon City 1 marked the first such compensatory move by the government, with the MIC still working on approving new sites for the other companies involved in the original project.

“We still haven’t finished yet,” Min Zaw Oo said.

Aside from Dagon City 1, four other projects run by Thukha Yadanar, Shwe Taung Development, Adventure Myanmar and Shwe Taung Hyday were suspended in February 2015 amid a reassessment of their design and proximity to the revered Shwedagon.


Source: The Irrawaddy

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.