{"id":10673,"date":"2021-01-19T12:40:42","date_gmt":"2021-01-19T05:40:42","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=10673"},"modified":"2024-09-18T14:16:09","modified_gmt":"2024-09-18T07:16:09","slug":"yangon-government-plans-6000-residential-units-for-squatters","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/yangon-government-plans-6000-residential-units-for-squatters\/","title":{"rendered":"Yangon government plans 6,000 residential units for squatters"},"content":{"rendered":"<p><span data-contrast=\"auto\">More than 1,000 units have already been built across various townships<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<figure id=\"attachment_10679\" aria-describedby=\"caption-attachment-10679\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-10679\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/01\/shutterstock_357645284.jpg\" alt=\"\" width=\"1000\" height=\"612\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/01\/shutterstock_357645284.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/01\/shutterstock_357645284.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/01\/shutterstock_357645284.jpg 620w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/01\/shutterstock_357645284.jpg 190w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/01\/shutterstock_357645284.jpg 1000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-10679\" class=\"wp-caption-text\">Scenery view of Shwedagon Pagoda, an iconic landmark of Yangon, Myanmar. Boyloso\/Shutterstock<\/figcaption><\/figure>\n<p><span data-contrast=\"auto\">As reported by\u00a0<\/span><span data-contrast=\"none\">The Myanmar Times<\/span><span data-contrast=\"auto\">,\u00a0<\/span><span data-contrast=\"auto\">Yangon Region Government is<\/span><span data-contrast=\"auto\">\u00a0collaborating with social welfare\u00a0<\/span><span data-contrast=\"auto\">organisation<\/span><span data-contrast=\"auto\">\u00a0Pyo May Eain<\/span><span data-contrast=\"auto\">\u00a0in<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">building 6,000 residential units for squatters, at MMK<\/span><span data-contrast=\"auto\">3 million (USD2,259) per tenant<\/span><span data-contrast=\"auto\">, stated director of Pyo May Eain Daw Van Lisa Aung. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cOver 1,000 units have already been developed in\u00a0<\/span><span data-contrast=\"auto\">Shwe<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">Pyi<\/span><span data-contrast=\"auto\">\u00a0Thar, Dagon\u00a0<\/span><span data-contrast=\"auto\">Myothit<\/span><span data-contrast=\"auto\"> (East), and Dagon\u00a0<\/span><span data-contrast=\"auto\">Myothit<\/span><span data-contrast=\"auto\">\u00a0(South) townships. 1,000 units will be built in six townships and a further 5,000 will be built afterwards,\u201d she added.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The\u00a0<\/span><span data-contrast=\"auto\">finalised<\/span><span data-contrast=\"auto\">\u00a0units have been handed over to residents that\u00a0<\/span><span data-contrast=\"auto\">can make monthly repayments to purchase.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Units are offered under a\u00a0<\/span><span data-contrast=\"auto\">collateralised<\/span><span data-contrast=\"auto\"> debt obligation (CDO) system for groups of 10<\/span><span data-contrast=\"auto\">, in which payments\u00a0<\/span><span data-contrast=\"auto\">were in forbearance during October to December 2020 due to\u00a0<\/span><span data-contrast=\"auto\">financial<\/span><span data-contrast=\"auto\">\u00a0problems from\u00a0<\/span><span data-contrast=\"auto\">the pandemic.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/pandemic-unmasks-fundamental-challenges-in-myanmar-market\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: <\/strong><strong>Pandemic unmasks fundamental challenges in Myanmar market<\/strong><\/a><\/p>\n<p><span data-contrast=\"auto\">Construction had been suspended for the time being, but development works will recommence by the end of January.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The project blueprints reveal that small units of 12 by 35ft and 15 by 40ft will be constructed on 30 by 50ft plots of land<\/span><span data-contrast=\"auto\">.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The most expensive units are priced at MMK3<\/span><span data-contrast=\"auto\">\u00a0million<\/span><span data-contrast=\"auto\">\u00a0(USD2,259)<\/span><span data-contrast=\"auto\">, and residents are required to make<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">r<\/span><span data-contrast=\"auto\">epayments of MMK50,000<\/span><span data-contrast=\"auto\">\u00a0(USD37.66)<\/span><span data-contrast=\"auto\">\u00a0per month<\/span><span data-contrast=\"auto\">\u00a0over five years.\u00a0<\/span><span data-contrast=\"auto\">Buyers may not sell, sublet, or rent such properties.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The Yangon City Development Committee (YCDC), as well as other departments, have <\/span><span data-contrast=\"auto\">also\u00a0<\/span><span data-contrast=\"auto\">established\u00a0<\/span><span data-contrast=\"auto\">necessities<\/span><span data-contrast=\"auto\">\u00a0like water supply and powe<\/span><span data-contrast=\"auto\">r for the project.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>More than 1,000 units have already been built across various townships <\/p>\n","protected":false},"author":12,"featured_media":20953,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[193,1049,512,192],"class_list":["post-10673","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-myanmar","tag-property","tag-residential","tag-yangon","news_country-myanmar","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Yangon government plans 6,000 residential units for squatters | Asia 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