The Landfill Operation of Sittwe New City Project Remains 20 Percent To Be Completed

The new city project implementing on the Kaladan river side in the eastern part of Sittwe, Rakhine State, is remained to landfill in 20 percent of the project area, said U Aung Kyaw Zan, the Minister of the Ministry of Industrial and Transportation.

After the complete landfill, the plots of the project would be sold again, he added.

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“The Government asks to sell the plots after a fully landfill operation. Currently, we’ve completed in 80% and we will try to complete the remaining areas as soon as possible,” he said.

The Korean BXT Company presold more than 240 plots valued more than K 2 million before the completion of landfill operations. Therefore, the Rakhine State Government has issued to suspend the sales because the sales before the completed project are entangled with the legal procedures, according to a release from the State Government on February 14.

The project is cooperated by the Rakhine State Government in 30 percent investment and the Korean BXT International Co., Ltd in 70 percent investment.

In March 2016, the 90 acres of land were reclaimed for the Sittwe Waterfront Project. The sales of the plots in the first phase were suspended by being entangled with the legal procedures, said a MP of Rakhine State.

The project plan includes commercial area, retail & wholesale market, mix housing, mid-rise condominium, recreation center, warehouse & logistics facilities and factories. The BXT International Co., Ltd invests more than K 6 billion in the project, according to the iMyanmarHouse.com.

Credit: The Voice
Translated by: iMyanmarHouse.com