State Counsellor Daw Aung San Suu Kyi views the scale model of Yadana Hninsi Housing Complex. Photo: MNA
The Yadana Hninsi Housing complex, the new government’s first public housing development project in Yangon, was opened yesterday by Daw Aung San Suu Kyi, the State Counsellor.
The project, which started on 1st June, is a model project for future housing complexes in Dagon Seikkan Township, with its five 18-storey buildings.
As part of public housing development, the Yangon Region Government has adopted a five-year plan from the 2016-17 fiscal year to the 2020-2021 fiscal year to build 180,000 apartments.
Under the plan, 8,000 apartments will be constructed in two years from the 2016-2017 fiscal year to 2017-2018 fiscal year in the Yangon Region, and the apartments would be sold on an installment plan for K10 million, according to the Ministry of Construction.
To implement the project, the Ministry of Construction established the Construction and Housing Development Bank in 2014 and is planning to sell low-cost apartments worth under 10 Ks million with a 30 per cent down payment, with the remaining 70 per cent payable monthly for periods of eight, ten, twelve and 15 years.
Speaking on the occasion, State Counsellor Daw Aung San Suu Kyi urged the people and private businessmen to assist in implementing the public housing development projects, calling it a “public-private partnership” model.
She also requested the people to work together with the government in restoring the city’s former glory of “the most beautiful country in the eastern region,” expressing the Union Government’s commitment to upgrade Yangon, which can be accessed not only by road but also by waterway in the future.
The State Counsellor also pledged that the Union Government would assist the Yangon Region Government in bringing glory back to the city.
As she discussed the current traffic congestion in the city, the State Counsellor said the government had a vision of the city in which people do not need to spend time on the road unnecessarily.
Daw Aung San Suu Kyi planted a Maha Hlaygar tree in the complex to mark the opening ceremony, while Union Minister for Construction U Win Khaing and Yangon Region Chief Minister U Phyo Min Thein also planted commemorative trees.
About 2,200 apartments will be sold to the public on installment system in the near future under the arrangements of the Ministry of Construction and the Yangon Region Government.
The housing complex was formally opened by Union Minister U Win Khaing, Chief Minister U Phyo Min Thein, Superintending Engineer of the Ministry of Construction Daw San San Aye and Managing Director of Shwe Taung Company U Aung Than. — Myanmar News Agency