Kayin government gives cautious green light to low-cost housing development
Kayin government gives cautious green light to low-cost housing development
Myanmar Times, 28 Jan 2016
URL: http://www.mmtimes.com/index.php/business/property-news/18706-kayin-government-gives-cautious-green-light-to-low-cost-housing-development.html
The Kayin State government has given a little-known company permission to build a major low-cost housing project near Hpa-an, after more than a year of due diligence.
The project is being built near to the Hpa-an industrial zone, on 20 acres of former military-owned land. The state government sold the land to Mya Htay Kywe Linn for K13 million an acre. Construction work began on January 24.
The project will include 2560 apartments of 600 square feet each, in five-storey buildings. Units can be bought in instalments or paid for upfront in cash. The price varies: apartments cost K8 million if the buyer pays immediately, or K10.8 million if they pay in monthly K30,000 installments over 30 years.
Those who choose to pay installments can move into their apartments after two years of making payments.
The project is being built near to the Hpa-an industrial zone, on 20 acres of former military-owned land. The state government sold the land to Mya Htay Kywe Linn for K13 million an acre. Construction work began on January 24.
The project will include 2560 apartments of 600 square feet each, in five-storey buildings. Units can be bought in instalments or paid for upfront in cash. The price varies: apartments cost K8 million if the buyer pays immediately, or K10.8 million if they pay in monthly K30,000 installments over 30 years.
Those who choose to pay installments can move into their apartments after two years of making payments.