Home MMBIZ News Over 33,000 Gov’t Apartments in Pipeline This Year

Over 33,000 Gov’t Apartments in Pipeline This Year

A total of 33,359 apartments across six developments built by the Yangon Regional Government will be completed this fiscal year, according to an official from the Department of Human Settlement and Housing Development (DHSHD).

Daw San San Aye, director of planning at DHSHD, told Myanmar Business Today, “The apartments are intended for the middle class and are on track to finish at the end of this year. The apartments can be bought through an instalment system.”

The department’s Ayeyarwon Yadanar project will supply 19,600 apartments, Kannar Shweli project 1,398 apartments, Ponnami Shweli project 6,189 apartments, Ayeyarwon Shweli project 1,064 apartments, while Yuzana low-cost housing project 1, 2, and 3 will supply 3,608 apartments and Dagon Seikkan township housing project will bring in 1,500 apartments.

Daw San San Aye said, “Schools, hospitals, electricity infrastructure, markets, shops, car parking and transportation networks will be constructed together with the housing projects. These projects will be constructed to a high living standard.

“The apartment prices will be between K40 million and K50 million. Those who are gainfully employed will be allowed to buy apartments on an instalment basis.”

The Construction and Housing Development Bank said it will offer funds worth K1.5 billion to customers who have been approved to buy apartments.

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