Myanmar Govt to build 1m apartments in 330 towns by 2030

Myanmar Govt to build 1m apartments in 330 towns by 2030

Myanmar is planning to finish the construction of over 1 million apartments in 330 towns across the country by 2030 under its urban development programme, according to the Ministry of Construction.

The Department of Urban and Housing Development under the ministry is providing proper housing for the people in accord with its policy on long-term development of towns and cities.

In the previous fiscal year, blueprints for urban development in 24 cities in various states and regions were drawn while urban development plans for Mandalay, Mawlamyine and Pathein were drawn in collaboration with Japan International Cooperation Agency.

The ministry announced that low-cost and affordable housing projects with 3,008 apartments were implemented last financial year (2016-2017)—2,208 apartments in Yangon and 800 in Mandalay.

Union Minister for Construction Win Khaing said a five-year housing development project (from 2016-2017 to 2020-2021) had been drawn to build 180,000 apartments. For Yangon alone, low-cost and affordable housing projects will have been finished by this year and will provide 8,700 apartments.

Likewise, there will have be 440 apartments in Monywa, 304 in Magway and 676 in Pathein by the end of this year.

Myanmar still needs more land and investment to implement more low-cost housing options for the public. The government, however, is committed to implementing housing projects year by year so that the people have the opportunity to own apartments.

Source: http://www.elevenmyanmar.com/local/8631