Local Property News | Posted by Hnin Ei Khin
Berjaya Land is planning to build over 50,000 affordable housing units to accommodate squatters in Hlaingtharyar township, News Watch reported.
The proposed date for the project start is November 2019, on an area of around 200 acres in Yangon’s western township, with no exact details on the location given.
“The location has not been confirmed yet, as the permission for the project is still under discussions”, a Yangon region government representative reportedly told the newspaper.
The company will collaborate with the region government on a credit loan system payable monthly by the future residents. Current discussions see an agreement at around Ks80,000 ($52) payable per month, but the price details have not been established yet.
Yangon Region Government chief minister U Phyo Min Thein has previously claimed the government is planning to build a total of 100,000 affordable units in Yangon’s Hlaingtharyar and Shwepyithar townships in collaboration with private companies and YCDC, in a hope to resolve squatter issues.
In an earlier February announcement, Yangon region chief minister said the government is considering to reduce constructions costs for low-housing by dropping land prices to zero in an effort to make costs for affordable housing project lower.
Recently, the grand opening for phase one of the new affordable housing project Kyan Sit Min in Hlaingtharyar was celebrated. The phase includes a total of 73 buildings with 2,372 units, with the entire project to be developed around 50 acres.
Myanmar Real Estate & Construction Monitor notes that most of the affordable housing projects are located in North Dagon, South Dagon, Dagon Seikkan, Thingangyun, Hlaingtharyar and Shwepyithar.
Squatter housing by Berjaya Land Berhad
Berjaya Land Berhad is a subsidiary of Berjaya Corporation, one of Malaysia’s largest property development groups.
In November 2017, Yangon Metropolitan Development and the company signed a MoU for the development of squatter housing in Yangon.
The project was initially planned for around 3,000 acres in Twante township. It is unclear if the new proposed project in Hlaingtharyar refers to the same one.
Berjaya Land Berhad representatives met with DICA deputy director general U Thant Sin Lwin in June 2018 and with the Yangon Region Government in September 2018 to discuss about a credit loan system for purchasing affordable housing units.
Berjaya Land is one of the 14 companies which submitted an EOI for the development of the Dagon Seikkan civil servant housing project.
Myanmar Real Estate & Construction Monitor also notes that in November 2017, Berjaya Myanmar Investment, another subsidiary of Berjaya Corporation presented plans for the “Berjaya HT Eco Park” to the Yangon Region Chief Minister.
Credit: Myanmar Real Estate
