Yangon Mayor promises speedy review of high-rise projects

Construction News

Yangon Mayor promises speedy review of high-rise projects

Yangon Mayor U Maung Maung Soe said the government did not suspend any additional construction projects involving high-rise buildings on March 6. He made the comments in the regional legislature.

MP U Hla Thein from Tamwe township asked if the government has plans to greenlight the construction projects.

“Suspending construction projects which have already started can affect businesses and workers. Due to the suspension, the workers can suffer from unemployment,” he said, urging the government to review the suspension.

In May 2016, developers of hundreds of high-rise buildings in Yangon Region were ordered to suspend their work while the government undertakes an assessment of all the projects which involve nine floors or above, before deciding which one would be permitted to go ahead.

Over 60 of those suspended projects had been granted permits to start construction, while more than 120 projects were under construction. They all had stopped the work and are waiting for the review.

“The government suspended for a while the construction projects of high rise buildings in Yangon municipal areas in order to review whether these buildings comply with the rules and regulations,” the mayor said.

He added that only 12 buildings are under suspension and the government has greenlighted other projects. The government will finish the review as soon as possible.

Developers said that despite the wave of new construction over the past few years, there is still a need for new residential buildings in the city centre, where foreigners prefer to live and work, because hotel room charges are still very high.

Foreign investors were reportedly spooked in 2015 when the President’s Office cancelled five mixed-use projects near the Shwedagon Pagoda, including the $300 million Dagon City 1, a joint venture between local firm Thu Kha Yadanar and Hong Kong-based Marga Group.

Source: https://www.mmtimes.com/news/mayor-promises-speedy-review-high-rise-projects.html

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