Scale model of Yadana Hninsi Housing Complex. Photo: MNA
MORE THAN 120 units of Yadana Hninzi housing project developed by the Ministry of Construction have already been sold during a single week, said an official from sale center.
According to the official, some bought Ks1.2 billion worth of large flats while some others selected Ks600 million worth of smaller flats.
The Yadana Hninsi Housing complex, the new government’s first public housing development project in Yangon, started on June 1. It is a model project for future housing complexes in Dagon Seikkan Township, with its five 18-storey buildings.
Those buyers, who purchased the apartments without taking out loans, have to pay 20 per cent of total costs first, with the remaining 80 per cent payable monthly for period of twelve months. They will receive the key of the apartment only after finishing the installment plan.
Some apartments have yet to have electricity or water a supply system installed, although the project is almost completed. Those apartments will be finished by May.
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 new apartments will be constructed in two years from 2016-2017 to 2017-2018 in the Yangon Region, and the apartments would be sold on an installment plan for K10million, according to the Ministry of Construction.
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