Published on Thursday, 15 November 2012 22:45
Yangon City Development Council is planning to construct 120,000 low-cost apartments in the region, according to officials.
The council will invite local and overseas construction companies to implement the plan.
“The council will build the apartments step by step,” Aung Kyaw Soe, Assistant Director of Yangon regional administration said. “First phase, we will construct 5,000 low-cost apartments on the 48th quarter of North Dagon Township. We will construct more apartments later.”
The Department of Human Settlement and Housing Development is also planning to build 1 million low-cost apartments units between 2013 and 2028. The plan, Director of Ministry of Construction Myint Myint Mu said, would include six construction projects of low-cost housing with 20,000 apartments in each.
The low-cost housing scheme targets low-income people.
Win Zaw, another Director of Ministry of Construction, dismissed concerns that low-cost housing meant that its quality was reduced to cover the construction cost.
“We will follow the standard. We will not use expensive wood for the doors and door frames, instead. And no fully parquet for the entire room,” he said.
Property developers can borrow money with low interest to construct the low-cost housing.
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