Despite the ongoing protest at
Hanthawady auto brokerage centre, the Yangon City Development Committee
last week gave Crown Advance Construction approval to build a modern
auto sale and service plaza on the 3.4 hectares of land in Kamayut
township.
The YCDC and the construction company
plan to build "Yangon Car Plaza", which will combine auto centres and
high-standard public housing.
"The project is expected to be completed
in three years," said Kyaw Min, head of YCDC revenue department, adding
"we will allocate over 100 pavilions to owners who register at the
revenue depart."
He described the project as an upgrade
of an urban area. Crown Advance won the bid last march when YCDC held an
auction for a joint venture partner to develop the site. YCDC will take
home more benefits than the construction firm as the revenue-sharing
rate is 55 percent to 45 percent, it its favour.
When YCDC offered a tender last year to private companies to open businesses on the plot it did not release the results.
More than 30,000 people use the brokerage centre.
source: Eleven Myanmar
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