Yangon: The first phase of the new Danyinkone wholesale market will be opened in the second week of May, Thaung Tin, deputy head of the markets department under Yangon City Development Committee (YCDC), said on Monday.
The new market is set on an 80-acre space developed by a public company in cooperation with the YCDC. The YCDC has taken out a 70-year lease and the land will be returned after the contract is finished.
“We will get 25 per cent of the profit. The region chief minister came to inspect the market project recently. We have instructions to open the first phase of the market in the second week of May,” said Thaung Tin.
Old Danyinkone market has more than 2,000 sellers but the new market has more than 5,000 shops. It can provide places for sellers from other markets, he said.
“I heard that the construction of the market was lacking transparency. It is our responsibility but it is not the time to reveal the plan. We can provide places for all sellers from the old market,” he said.
CEO Aung Gyi said they had succeeded in the tender to build the wholesale market and formed Myanmar Argo Exchange Public Ltd.
It will be the first modernised wholesale market, not only for Danyinkone, but also for the whole region.
The market will have three buildings comprising 5,600 shops. A total of 3,360 shops are five feet square and some are five feet in length and eight feet in wide. The rest are five feet in length and 11 feet in wide, or five feet in length and 13 feet in wide.
Source: Eleven Myanmar
