- Thriving Myanmar-Thai border trade faces warehouse shortage
- Thilawa Economic Zone’s 70,000 acres to be farmed
- Myanmar’s Oversea Employment Agencies Federation opens office in Thailand
- Commerce ministry to use its lands for necessity
- Nepalese Airlines to launch nonstop flight service to Yangon
- Buses remain least among 90,000 vehicles registered
- Korean firm to conduct feasibility study on water supplying projects in Yangon
- Credit Information Bureau to be formed
- ASEAN Economic Community Workshop held in Myanmar
- Vietnam-Myanmar economic seminar in Yangon
Singapore tops investment in Yangon’s high-rise buildings
Published on Tuesday, 01 January 2013 12:50
Traders Hotel and Sakura Tower in Yangon. (Photo-EMG)
Singapore remains the largest foreign investor in high-rise buildings of Yangon, Than Myint, chairperson of the Committee for Quality Control of High-rise Building Projects Construction (CQHP) said.
Construction of high-rise buildings in Yangon has slowed down since mid-2012, but more are now underway with foreign investment, and most of the project designs come from Singapore.
“Singapore drew the design with their styles and mostly they didn’t plan the earthquake resistance in buildings. We are checking intensively for that,” Than Myint said.
Local construction companies used to build 12-and-16-story building. Now they have submitted the proposals for 25 stories, 30 stories and 35 stories buildings because of the transparency in business scope and foreign investment, according to sources.
The construction companies built only 12-and-16-story buildings in Yangon. Yangon City Development Council is the one that supervises and ensures that the construction of the buildings agree with city plan. The CQHP checks only the project designs, Than Myint added.
The CQHP will have to check the projects of local construction companies and high-rise building projects with foreign investment.