Property News · September 20, 2016

Why residents are moving to this Myanmar township


Prosperity is spreading even to the country’s rice-growing communities
Travelers have to cross the muddy river to get to the Ye Le Paya pagoda, a tourist spot in Kyauktan township. Benjaporn / Shutterstock.com
It turns out downtown Yangon is not the only one benefitting from Myanmar’s return to the world stage. More than 20 kilometres away, the township of Kyauktan is stirring from decades of inertia.
Kyauktan township, home to the Ye Le Pagoda, is drawing residents to its real estate market, Myanmar Times reported. The construction of a new bridge as well as upcoming funding from the World Bank appear to be instrumental to such renewed interest.
Luxury housing can be found around the Thilawa SEZ, a 2,500-hectare special economic zone that straddles the townships of Kyauktan and Thanlyin, real estate agent U Aung Thein told the Times.
“After some industries opened up in Thilawa, job opportunities increased there and people employed in those industries came to live in Kyauktan township,” he said. “The township is becoming more prosperous as more people come to live here.”
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But while uptown Kyauktan is reportedly popular for detached housing and good public transportation, travel time to downtown Yangon has only diminished recently with the July construction of a 250-metre bridge over the Yangon River.
An important part of Myanmar’s rice-growing region, villages in Kyauktan township will receive World Bank funding, via the National Community-driven Development Project, for infrastructure development and repair.
The Asian Development Bank has expected Myanmar’s economy to grow by 8.4 percent this year, outpacing other countries in Asia and the Pacific.
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Source : property-report.com
Read more…Why residents are moving to this Myanmar township

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