Myanmar real estate news

The Shops in Shwe Mingalar Market are not maintained as promised by the Company

Myanmar real estate news The buyer said the company did not keep their promise to take responsibility for market maintenance by the developer of Shwe Mingalar Market, Mingalar Taung Nyunt Township.

For that, they requested to negotiate to the Hlawt daw representative of Mingalar Taung Nyunt, they said.

Although Success Company (the seller of market) gave a promise to do the needy of service, to do maintenance to the market as the standard market, while shop rooms were bought, the company did not any maintenance since from 2015 to till today, said U Kyi Suin, 3D Men Cloths shop owner and Chairman of Shwe Mingalar Market.

Yangon City District Council and AyarHinthar Company are cooperated 37440 square feet wide Shwe Mingalar Market of Mingalar market nearby the previous Bus Station had begun to build with BOT system in 2012 year and the shop rooms were sell out on the earlier year of 2015.

Ground floor and first floor shop room were sell out which from Construction company and car parking third floor and second floor are set for rent which getting from Yangon City District Council Committee.

When the shop property were started open for sale, Company promised to keep it well and to do the needy of services as a standard market which the current price, one square feet is 25 lakhs Kyats cost and at least one room is from 1000 Lakhs Kyats to 5000 Lakhs Kyats cost, said shop keepers.

But they requested to coordinate and meet with Hlawt Daw representative for trading Company, Construction employer and Yangon City District Council Committee have not doing any maintenance to the market till today as they have promised to do as a standard market when the shops were sold.