The Ministry of Planning and Finance has announced a plan to build housing projects to lease exclusively to public servants at reduced rates, beginning later this year.
The Ministry of Planning and Finance has designated regions in Naypyidaw, Mandalay, Yangon, and a few other states and regions as target areas for government housing projects, according to the Department of Urban and Housing Development under Ministry of Construction.
“We have already selected plots of land in Naypyidaw and Mandalay. The selection process for the Yangon housing is underway and will be finalized in August. We are also in the process of detailing the building’s design and structural layout,” U Win Naing, Deputy Director of Urban and Housing Development, told Myanmar Business Today.
Dagon Seikan and Shwe Pyi Thar have been selected as potential locations for the Yangon building site. The government has said that the site will require 100 acres of land but has not specified the number of apartments.
In Mandalay, the housing project sits on 30 acres of land and has 1,640 in Magin Gone village. Naypyitaw’s housing project occupies 20 acres in Dekkhina Thiri but has yet to confirm the number of apartments.
Although the government has not released a tender for construction to handle the Yangon project, they have made it clear that construction will commence this year. The completion of each building takes 2 years, according to Department of Urban and Housing Development.
Apartments will be allocated to public servants by a quota system, which “ensures efficiency, effectiveness, and that residents pay the lowest possible price,” U Win Naing, Deputy Director of Urban and Housing Development Department, said.
Source: Myanmar Business Today
