Jan 2, 2013

Singapore tops investment in Yangon’s high-rise buildings

Singapore remains the largest foreign investor in high-rise buildings of Yangon, Than Myint, chairperson of the Committee for Quality Control of High-rise Building Projects Construction (CQHP) said.

Construction of high-rise buildings in Yangon has slowed down since mid-2012, but more are now underway with foreign investment, and most of the project designs come from Singapore.

“Singapore drew the design with their styles and mostly they didn’t plan the earthquake resistance in buildings. We are checking intensively for that,” Than Myint said.

Local construction companies used to build 12-and-16-story building. Now they have submitted the proposals for 25 stories, 30 stories and 35 stories buildings because of the transparency in business scope and foreign investment, according to sources.

The construction companies built only 12-and-16-story buildings in Yangon. Yangon City Development Council is the one that supervises and ensures that the construction of the buildings agree with city plan. The CQHP checks only the project designs, Than Myint added.

The CQHP will have to check the projects of local construction companies and high-rise building projects with foreign investment.

Source: Eleven Media Group