Published on Thursday, 27 June 2013 21:05
Open air market area of New Bogyoke Market seen during June (Photo-Kyaw Htin-EMG)
A twin tower which consists of two high-rises, one 34 and a 32-storeyed, will be built at the open air market area near the world-famous Shwedagon Pagoda in Yangon, according to Yangon authorities.
The Twin Tower project, which will take four years to complete, is a joint venture between Yangon City Development Committee (YCDC) and Shwe Taung Company, a leading local construction firm. The proportion of their stakes has not been disclosed.
“The tower will be built at the open air market area of New Bogyoke Market. A total of 437 shops at New Bogyoke Market will be removed [for the project]. We have negotiated with the shop owners, and agreed that we will return their original places after the construction,” an official from YCDC said.
In March 2012, YCDC invited tenders for the project, and Shwe Taung Company was awarded the contract. The two parties signed a joint venture contract on May 11 to set up a high-rise on the YCDC-owned six-acre land, which is not far from the Shwedagon Pagoda.
It earlier raised public concerns that the high-rise would overshadow or block the views of the Buddhists’ most sacred pagoda in Myanmar.
The YCDC official said the twin tower, once completed, will become one of the highest buildings in Yangon, but the tower will not be taller than the Shwedagon Pagoda, which is 112 metres high on Singuttara Hill.
National Latest News
- Anti-mine activists on trial for Chinese flag burning
- ICRC to carry out police training in Rakhine State
- KIA arrest civilians in villages around Mansi
- Myanmar-Laos Friendship Bridge to be completed by 2015
- National education seminar held in Yangon
- Government approves renovation of Yangon Railway Station
- Diplomats make debut venture into Shan State
- Indian Ambassador meets Kachin State officials
- Land grabbing the biggest issue in Myanmar says rights group
- Cyclone Madi will not hit Myanmar