Affordable Housing: Expo To Be Held For Public Observation

The Affordable Housing Expo 2016 will be held at MICT Park in Yangon from October 21st to 23rd. 

More than 10 housing projects by the Ministry of Construction and affordable housing projects that are being implemented by private developers across the country will be on displayed at the expo. 

One of Myanmar property portal, House.com.mm, organized the Expo in partner with the Construction and Housing Development Bank (CHDB) and the Ministry of Construction. 

Managing Director, House.com.mm, Nitesh Khirwal: “The Government is very actively moving forwards by formulating policies, by coming up with the incentives for different people and by helping launch different affordable housing projects. So, we, as a company, are to help disseminate this information to the public and make it available to the public.” 

During the expo, the public can study the procedure of loan disbursement program by CHDB. 

Managing Director, Construction and Housing Development Bank, Win Zaw: The main objective of this expo is for the public to know the procedure of housing loan being disbursed by the Ministry in cooperation with CHDB. The public can buy an apartment with 8 years hire purchase system. The interest rate for loan is 12 %, but for the first year, they also have to pay 1 % service charge. Anyone who have regular income can open saving account at CHDB, and once they get the suitable amount, the can own an apartment through hire purchase system. 

More 2,000 apartments are ready for sales, and the Ministry also has the plan to build another 8,000 apartments within two years.