August 19, 2016

Future of Yangon’s high-rises still in limbo

Men take photo in front of building in central Yangon, Myanmar, July 25, 2016.
Men take photo in front of building in central Yangon, Myanmar, July 25, 2016.

CONSTRUCTION entrepreneurs have voiced that difficulties will be confronted in tackling those high-rise buildings, still currently under construction, which have been ordered to reduce their number of stories, as precise directives have yet to be issued.
Eight of the 12 companies, which have been instructed to reduce the height of their high-rise buildings, are reportedly construction companies, while the Yangon regional government is allegedly yet to issue any kind of detailed directive more than which states the height of current aforementioned buildings must be reduced.
“We’ve finished construction of ten floors. But, they’ve told us to suspend any further construction from this height. The Yangon regional government instructed us to level off the building at the ten floors, for which construction is complete. They then amended the directive to a maximum of eight floors, but we’ve still not been informed as to exactly how we’re supposed to handle these two floors which go over the stated limit,” said U Bo San, managing director of the KSB Construction Company.
The number of levels, for which the current high-rise buildings have been instructed to temporarily suspend their construction activities, is reportedly dependent upon the intended height of the structure, with orders being made to reduce between four and 12 stories per building.
“Our company has responsibility over three high-rise buildings which have been ordered to suspend construction and reduce their number of stories. There hasn’t been any compromise over the location within which these high-rises have been built; the investment is one’s own as construction has taken place on one’s own private land. In terms of design, we’ve worked together with foreign architects,” said U Saw Mahn, managing director of the Myanmar Seilone Construction Company.
The real-estate market has reportedly not been negatively affected by the government issued directive, although it has allegedly seen a slight decrease in foreign investment.
Those most affected by the initiative are those involved in the construction of such high-rise buildings, with the overall financial losses of construction companies reportedly reaching as much US$6 billion.
Over the 185 high-rise buildings currently still under construction, 64 of them have been subject to initial inspections, of which 12 have been ordered to redesign the building plans to alleviate the number of floors.
The 12 construction companies include the KER Company, Paragon Residence Company, The Illustra@ Pho Sein, The IVYCondo Pyay Rd, East Race Course (ERC), Merchant Suite Project, Seinleiaung Condo Company and the Golden Dragon Company.


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