Sunday, August 20, 2017

More than 2000 low-cost units to go on sale

More than 2000 low-cost apartments will go on the market next month as a wave of government construction projects nears completion, officials have announced.

The Department of Urban and Housing Development said the three projects, in two Yangon townships, were being made ready for sale.

“Sales of the 2208 apartments will begin in November,” said U Min Aung Aye, a deputy director in the DUHD.

The units are located in the low-cost housing projects of Shwe Lin Pan in Hlaing Tharyar township and Kanaung and Yuzana Phases 1 and 2 in Dagon Seikkan township.

The department has allotted 70 percent of the units to the Yangon Region government to manage.

Would-be buyers must have a savings account at Construction and Housing Development Bank that contains the K3 million necessary for the required 30pc down payment, said U Min Aung Aye.

“We won’t sell to anyone without an account at CHDB,” U Min Aung Aye said.

“Those who can pay the 30pc down payment will have first priority,” he added, referring to the 665 units remaining under the control of the DUHD.

CHDB announced recently that it had about 5000 savers, including 30 customers who had the necessary K3 million balance.

The apartments cost about K10 million. The Ministry of Construction, DUHD’s parent ministry, plans to build more than 8000 low-cost apartments in Yangon Region.