{"id":21332,"date":"2016-07-29T19:28:53","date_gmt":"2016-07-29T12:28:53","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/yangon-high-rise-projects-up-in-the-air\/"},"modified":"2016-07-29T19:30:39","modified_gmt":"2016-07-29T12:30:39","slug":"yangon-high-rise-projects-up-in-the-air","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/yangon-high-rise-projects-up-in-the-air\/","title":{"rendered":"Yangon high-rise projects up in the air"},"content":{"rendered":"


\nMyanmar government officials are up in arms over a review of high-rise projects in Yangon
\nA busy day in Yangon. Image credit: Insights Unspoken (Flickr)
\nDisagreement over a city-wide review of high-rise projects in Yangon has caught developers in the crossfire, with hundreds of projects cast into various stages of development limbo. Now a top-ranking Yangon government official is taking up cudgels for several business owners.
\nDaw Sandar Min, head of the Finance, Planning and Economic Committee of the Yangon region parliament, is now appealing to the regional government to reconsider 12 developments that have been suspended in the wake of the review.
\nAfter meeting with the developers and carrying out site inspections, Min was convinced that the construction designs were within specifications, contrary to findings by the High-rise Inspection Committee which recommended the suspension.
\nA decision could be passed in three days.
\n\u201cIf the regional government does not respond soon, we will take the issue to the hluttaw (Union parliament) and at that time Yangon Region government will need to respond,\u201d she said.
\nAccording to the High-rise Inspection Committee, the projects ran afoul of draft zoning plans and, in a controversial recommendation, must reduce floors altogether.
\n\u201cOur committee will watch this review closely because of the enormous losses to our economy,\u201d Min told The Myanmar Times. \u201cWorkers on a daily wage are suffering every day that this suspension continues and I would like to remind regional officials to take this into account.\u201d
\nMore: Huge luxury developments to change Yangon\u2019s riverside skyline forever
\nIt\u2019s a notable change of tune for Min, who previously objected to the construction of the Diamond Inya Palace Condominium. Set to be the tallest building in the country upon completion, the skyscraper halted construction after city officials determined that it was situated in a low-rise zone, as designated by a draft city zoning plan.
\nSome analysts have commended the review, an initiative of the new civilian government led by Aung San Suu Kyi\u2019s National League for Democracy. Daw Marlar Tun of the non-profit Singapore Myanmar Exchange tells The Myanmar Times the review is necessary to achieve \u201csustainable long-term development.\u201d
\n\u201cThe new government has a legacy of challenges to unfold and undo. Given their magnitude, it is understandable that all projects may not be allowed to happen at once,\u201d she said.
\nTo date, around 200 high-rise structures in Yangon approved by the previous administration have been temporarily closed.
\nRead next: Top 10 predictions for Yangon real estate in 2016
\n
\nSource : property-report.com
\nRead more…Yangon high-rise projects up in the air<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Myanmar government officials are up in arms over a review of high-rise projects in Yangon...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-21332","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5y4","jetpack-related-posts":[{"id":18122,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/top-10-predictions-for-yangon-real-estate-in-2016\/","url_meta":{"origin":21332,"position":0},"title":"Top 10 predictions for Yangon real estate in 2016","date":"June 30, 2016","format":false,"excerpt":"\r We\u00a0divine what lies ahead for Myanmar\u2019s resurgent city Image credit: mmbiztoday.com Some real estate brokers have doubts that property prices in Yangon will return to peak levels seen in 2013 and 2014. 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