A Preliminary Agreement For Ayarwon-Yadana Housing Project To Be Signed By Shwetaung Construction Company

A preliminary agreement to implement Ayarwon-Yadana Housing Project was signed by Shwetaung Construction Company jointly with the Department of Urban and Housing Development on 20th January.

U Win Khaing, Minister of Electricity and Energy, former Union Minister of the Ministry of Construction, invited the buyers for the project at the preliminary agreement signing ceremony.
Ayarwon-Yadana Housing Project is able to support Yangon City development, U Win Khaing, Union Minister said.
The project located in Dagonseikkan Township is implemented based on population density and living standard and a statement was officially announced on 19th January, said U Han Zaw, new Union Minister of the Ministry of Construction.

“We, Shwetaung Construction Company, would like to thank to the Ministry of Construction because of the opportunity to take part in the implementation of the project,” said U Aik Htun, Chairman of Shwetaung Construction Company.

The construction of the project was delayed due to the stable real estate market, U Min Htain, Director-General of the Department of Urban and Housing Development told the media at the end of December, 2017.

Although the Ministry of Construction set the project to complete during three years started from 2013, real estate market has been met the falling prices since the end of 2014. Therefore, the construction sector was delayed, he said.

The Ministry of Construction has been implementing Ayarwon-Yadana Housing Project since 2013. The project comprises (49) buildings and (46,600) apartments. The value of each apartment is about 60 million MMK. Some experts under Urban Development criticized regarding with high price and transportation difficulties.

Credit: 7DayDaily
Translated by: iMyanmarHouse.com