Under the Ministry of Commerce, the Urban and Housing Development Department (UHDD) is set to complete phase two of its affordable housing project in March 2019.

Once completed, this phase of the project will contribute an estimated 2,500 low cost and affordable housing units to the market. 

The UHDD has been building and developing low-cost housing by means of the Ministry of Construction since 1992 and was established to develop the areas of:

• Hlaing Thar Yar
• Thanlyin
• Dagon Seikan
• Thingungyan
• South Dagon
• North Dagon
• Shwe Pyi Thar
• North Okkalapa

Since the project's establishment, the department has completed over 130,000 housing units. 

These latest projects fall under phase two of Kyan Sit Min housing, with a particular development focus on the areas of Hlaing Thar Yar, Thanlyin, Yuzana and in Yuzana Garden City. 

Colliers International Myanmar explains that the private sector remains quite unaffordable due to the high land acquisition costs, construction costs, lack of financial tools and parking regulations which hamper developers from creating smaller sized units that would lower total contract price. 

It is these difficulties which have resulted in the incompletion of phase two. 

With most upcoming development projects tailored towards the high-income earning population, Colliers believe that it leaves the market potential for lower to medium income individuals untapped. 

Sources: Colliers International Myanmar, Myanmar Business Today

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