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The Urban and Housing Development Department, under the Ministry of Commerce, will finish some of its housing projects by March next year. This program will add up to 2,500 low cost and affordable housing units to the market.
The Urban and Housing Development Department has been building, and developing low cost housing by means of the Ministry of Construction, since 1992. The Project was established to develop the areas and townships of; Hlaing Thar Yar, Thanlyin, Dagon Seikan, Thingungyan, South Dagon, North Dagon, Shwe Pyi Thar and North Okkalapa. Since starting this project the department has finnished over 130,000 housing units.
The latest of these projects are part of phase 2 of Kyan Sit Min housing. This phase is to develop and provide low cost housing in the areas of; Hlaing Thar Yar, Thanlyin, Yuzana and in Yuzana Garden City.
“We expected the development of this phase to have finished this year. But we won’t be able to do so, on schedule. So, we will finish it in 2019,” U Win Naing, the Deputy Director of the Urban and Housing Development Department, told Myanmar Business Today.
The housing units that have been completed will hopefully, soon be available to sell.
“We had planned to build 8,000 housing units per year, to meet the surging demand of residential housing, but because of the land acquisition and various other difficulties, we were not able to meet this target. But we have finished more than 6,000 to 7,000 housing units,’’ he added.
Source: Myanmar Business Today
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