More than 2000 low­cost units to go on sale

The Myanmar Times - - Business - MYAT NYEIN AYE my­at­nyeinaye@mm­times.com

MORE than 2000 low-cost apart­ments will go on the mar­ket next month as a wave of gov­ern­ment con­struc­tion projects nears com­ple­tion, of­fi­cials have an­nounced.

The Depart­ment of Ur­ban and Hous­ing De­vel­op­ment said the three projects, in two Yan­gon town­ships, were be­ing made ready for sale.

“Sales of the 2208 apart­ments will be­gin in Novem­ber,” said U Min Aung Aye, a deputy di­rec­tor in the DUHD.

The units are lo­cated in the low­cost hous­ing projects of Shwe Lin Pan in Hlaing Thar­yar town­ship and Kanaung and Yuzana Phases 1 and 2 in Dagon Seikkan town­ship.

The depart­ment has al­lot­ted 70 per­cent of the units to the Yan­gon Re­gion gov­ern­ment to man­age.

Would-be buy­ers must have a sav­ings ac­count at Con­struc­tion and Hous­ing De­vel­op­ment Bank that con­tains the K3 mil­lion nec­es­sary for the re­quired 30pc down pay­ment, said U Min Aung Aye.

“We won’t sell to any­one with­out an ac­count at CHDB,” U Min Aung Aye said.

“Those who can pay the 30pc down pay­ment will have first pri­or­ity,” he added, re­fer­ring to the 665 units re­main­ing un­der the con­trol of the DUHD.

‘We won’t sell to any­one with­out an ac­count at CHDB.’

U Min Aung Aye Hous­ing depart­ment

CHDB an­nounced re­cently that it had about 5000 savers, in­clud­ing 30 cus­tomers who had the nec­es­sary K3 mil­lion bal­ance.

The apart­ments cost about K10 mil­lion. The Min­istry of Con­struc­tion, DUHD’s par­ent min­istry, plans to build more than 8000 low­cost apart­ments in Yan­gon Re­gion.

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