Affordable housing projects affected as funds dry up

In a serious blow to thousands of would-be home-owners, the construction of affordable homes in Yangon’s Ayeyarwon and Yadanar housing projects has been suspended because the money has run out, government officials say. Urban and Housing Development department director general U Min Htein told The Myanmar Times on December 6 that the government lacked the funds to complete the projects, in Dagon Seikkan township, according to schedule. “The Ayeyarwon and Yadanar housing projects are costing more than US$455 million, and we don’t have enough money to complete it. Because the department is prioritising low-cost housing it cannot [also] prioritise affordable-housing. We have therefore suspended construction of the 49 18-storey-buildings included in the project.” Also on hold is the related infrastructure, including roads, schools, sewage systems, markets, public transportation bus lines and parks. 

Keep reading