Yan­gon com­mit­tee to re­lease high-rise in­spec­tion re­sults

The Myanmar Times - - Business - – Myat Nyein Aye

A Yan­gon Re­gion gov­ern­ment com­mit­tee charged with re­view­ing high-rise projects ap­proved by the pre­vi­ous gov­ern­ment to de­cide whether or not they should go ahead will re­lease its first round of in­spec­tion re­sults to­day or to­mor­row, one of its mem­bers said.

Daw Hlaing Maw Oo said re­ports on 12 of the 64 projects be­ing re­viewed would be given to the devel­op­ers im­mi­nently.

“We will give the of­fi­cial re­sults of our in­spec­tion to the devel­op­ers of 12 projects to­mor­row or the day after to­mor­row. After the com­mit­tee has in­spected the projects, it will sub­mit the re­ports to the cab­i­net and await their de­ci­sion [on whether the projects will be al­lowed to pro­ceed],” she said.

The com­mit­tee will not re­lease its re­ports to the pub­lic, she said, be­cause the com­pa­nies have done noth­ing wrong.

Devel­op­ers have grown in­creas­ingly wor­ried about the fu­ture of their in­vest­ments since mid-May when the gov­ern­ment sus­pended all projects un­der de­vel­op­ment in Yan­gon with more than nine floors.

The re­view has dragged on, spook­ing for­eign in­vestors, while con­struc­tion work­ers have seen their wages cut and sales of con­struc­tion ma­te­ri­als have slumped.

The com­mit­tee will con­tinue to re­view the other projects sys­tem­at­i­cally, said Daw Hlaing Maw Oo.

In ad­di­tion to the 64 projects un­der con­struc­tion, it will as­sess more than 120 projects that were granted per­mits by the for­mer gov­ern­ment but have not yet be­gun.

“The com­mit­tee is con­tin­u­ing its in­spec­tions and will give the in­for­ma­tion to devel­op­ers as soon as it has fin­ished,” she said.

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