Developers eye affordable housing projects

Writer: 
Nilar
A Bandula housing project in East Dagon Township. (Photo-Shine Lin Aung)

Developers are becoming more interested in affordable housing projects after the passage of the Myanmar Investment Law prioritised low-cost housing projects, according to the Directorate of Investment and Company Administration (DICA).
Hsan Myint, the deputy director-general of the DICA said: “Affordable housing projects are among the prioritised tasks. Now entrepreneurs are in discussion with us on projects.”
The Myanmar Investment Commission (MIC) will give priority to 10 kinds of investments, including the construction of affordable housing projects and industrial cities.
On October 18, 2016, the Myanmar Investment Law was enacted under the Union Parliament Law No.40/2016. The bylaw approved by the Union government was issued by the Ministry of Planning and Finance on March 30.
The MIC’s 10 priority sectors are: farming, service and value-added agricultural products, animal breeding and meat production and marine products, increased exports, import-substitute production, power generation, logistics services, education and health services and the construction of affordable-housing projects and industrial cities.
The MIC has invited proposals for local and foreign investments in these sectors.