Hong Kong-based construction company Yau Lee Holdings Ltd is planning to set up a precast concrete factory for low-cost housing projects, amid the country’s high demand for housing.
The project will be a joint venture between Yau Lee Holdings and the local Youth Force Group.
The partners are in the process of finding a suitable location for the factory which will probably be set up within the Thilawa special economic zone, company officials said.
Once a suitable factory site is found, the proposal will be submitted to the Ministry of Con-struction followed by the Myanmar Investment Commission (MIC).
The Ministry of Construction is currently building a number of affordable housing projects across Yangon with the technical assistance from Youth Force.
Yau Lee is a Hong Kong-based public company which is active in markets like Hong Kong, Singapore, the UAE and China for various construction projects. It has diversified into hotel investment as well.