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Deputy Minister invites investors to join housing projects
Published on Sunday, 27 January 2013 21:15
The project site for low-cost housings (Photo - EMG)
Construction deputy minister Soe Tint said the government-initiated low-cost housing project was now opened for participation of private investors from local and foreign.
Ayeyar Wun and Yadana low-cost housing projects would begin during this year and expected to be completed by 2015. The project comprised 64 eighteen-story buildings with about five billion kyats of construction cost.
"Any potential companies are welcomed in these projects to build at least one or more, out of those 64 buildings," the deputy minister told Myanmar Industrial Zones and Real Estate Development Forum, held at Yangon Sedona Hotel on January 22.
An official from the Human Settlement and Housing Department (HSHD) said relevant rules and regulations for projects would be described for the participants.
A rule for sure, the investor is required to use ready-made items such as walls, frames and doors, made by HSHD, IGE Construction Company and Shwe Taung Company. Most of the raw materials for construction will be provided by IGE and Shwe Taung, he said.
Both housing projects will be high standard with recreation centres, gyms, supermarkets, religious halls, schools, clinics, business offices and administration wards.
The pricing vary between 15 to 20 million kyats per unit, depends on the space.