10,000-unit public rental housing project being implemented

For the convenience of the people, the 10,000-unit public rental housing project is being carried out in Nay Pyi Taw, Yangon and Mandalay regions. So far, about 5,008 units have been undertaken on initial stages, according to the Urban and Housing Development Department.
According to the Ministry of Construction, a total of 41,369 units were constructed in 2019 under the sale and rental housing projects, which is a record high construction within the past nine years.
In 2019, a total of 41,369 units were constructed, including 26,969 units of the sale housing project and 14,400 units of the rental housing project.
At present, 55,600 units of sale and rental housing, including 10,000 units of public housing projects, have already been constructed since 2011.
The Ministry of Construction has targeted to construct about 1 million units of housing projects in over 330 townships by 2030.
With the growing population in Myanmar, it needs to construct approximately over 30,000 units of housing annually.
However, only 20 per cent of demand has been met because of the people’s desire to invest in land and financial resources.
The department constructed 812 rental housing units in the 2018-2019 financial year in Nay Pyi Taw, Mandalay and Yangon regions, which have the highest demand for housing. It expended K15 billion from the Union Fund. Besides, about 120-unit housing projects were implemented in Nay Pyi Taw in the 2019-2020FY.
The Urban and Housing Development Department of the Ministry of Construction constructed a total of 8,416 units under the low-cost housing projects for retired government servants and the low-income public in Yangon, Mandalay and Nay Pyi Taw regions in the 2017-2019FY.
The department is also arranging for them to buy the housing units under a long-term installation payment system with a low-interest rate. — ACM/GNLM