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Japan Supports low-cost housing experiment in Myanmar

Myanmar real estate news The Japan-Myanmar Association for Industry of Housing and Urban Development (UMHU) and Myanmar Construction Entrepreneurs Association (MCEA) signed a memorandum of understanding (MOU) on December 4 to run a trial on a low-cost housing project.

The trial process will be done with the money donated from Japan. Two buildings will be built in different types,” said U Shein Win, deputy chair of Myanmar Construction Entrepreneurs Association (MCEA).

It will be built with the support of Japanese technology and materials in Mingalardon and construction will start in January next year.

After the completion of the trial building, the place will serve as a showroom for displaying Japanese items used in construction. After three years, the building together with the land will be transferred over to MCEA, U Shein Win added.

The aim of the trial and donation is to support construction services in Myanmar to develop.
MECA has established YMD Construction Co with the regional government as its partner. It is currently carrying out the project on a land of 183 acres in Dagon Seikkan Township in Yangon, which will offer low cost, medium-cost and staff housing units. YMD has invited JMHU to collaborate in this project.

Apart from Japan, MCEA is going to sign agreements with Thailand on technical cooperation for affordable housing.

Japan will seek to offer bank loans in housing sector When Myanmar’s financial system, its loans and criteria, as well as the credit system are sufficiently developed.