Myanmar plans to sell housing for retirees, low-income people 

business December 28, 2016 01:00

By MYANMAR ELEVEN
ASIA NEWS NETWORK
NAY PYI TAW 

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THE MYANMAR government is planning to sell housing in the capital Nay Pyi Taw for retirees and people on low income through an instalment plan handled by Construction and Housing Development (CHD) Bank.



The government is planning to develop two housing projects in Nay Pyi Taw: Yan Aung Myin housing in Dakhina Thiri Township and Shwe Nant Thar housing in Oakthara Thiri Township.

“Yan Aung Myin housing will be built on 100 acres [40.5 hectares] of land located in the Yan Aung Myin forest reserve,” said Win Naing, deputy director of the Department of Rural Development. 

“About 34 per cent of total land space will be used for apartment buildings and the rest will be used for recreation areas, schools, administrative offices and parks. A total of 2,144 apartments will be built.” The project will be developed in 2017-18 and it is expected to be finished in two years.

One-bedroom apartments will be available for around 10 million kyat (Bt262,000), two-bedrooms for around 20 million kyat, three-bedrooms for around 30 million kyat, and a larger three-bedroom apartment can be had for around 40 million kyat.