YCDC official takes new swing at foreign development
Myanmar Investment Commission (MIC) granted the Hong-Kong based company a new location to build its Dagon City 1 project earlier this month, after the development was suspended last year following public opposition to its location beside Shwedagon Pagoda.
The project will now be built on 17.7 acres at the corner of Kabar Aye Pagoda Road and Kanbe Road in Yankin township.
U Khin Hlaing is well-known for his opposition to the project’s original location, where four other projects due to be built have also since been suspended. He told The Myanmar Times last year that he “would absolutely not allow” the project to move forward.
His opposition was seemingly based on the location of the project, near to the country’s most famous religious site.
However, earlier this week he raised fresh concerns, announcing on his Facebook page that MIC did not obtain authorisation from his department before approving the new plot.
U Khin Hlaing said he had not been approached either by MIC or by Marga Landmark, and therefore YCDC would not approve the project’s new location, which could impact the city’s heritage.
Near Sedona Hotel and HAGL Myanmar Centre, the new location has a view of Inya Lake.
Authorities have said they are trying to develop this area of Yangon, which is well away from heritage sites in the downtown area.
A spokesperson from YCDC’s Department of Engineering (Building) said U Khin Hlaing is not responsible for deciding whether or not the project is approved.
Furthermore, MIC director Daw Mya Sandar said the investment commission asked for recommendations not only from YCDC but from Yangon Region government, both of which gave their approval.
“We have an approval letter from YCDC,” she told The Myanmar Times. “MIC is not permitted to make decisions such as this alone, so we spoke with Yangon Region government and YCDC before granting Marga Landmark this new location.”
She added that according to procedure every project, even a house, must first be approved by YCDC.
Furthermore, the location has been approved by the company, she said. “Marga Landmark agreed to this replacement site, which is why we granted it.”
A spokesperson for Marga Landmark said the company has had several meetings with the relevant authorities, including YCDC, to discuss its plans.
“In fact, we have amended our plans based on the comments given by the Ministry of Construction, YCDC, the Myanmar Engineering Society and other relevant authorities at the aforementioned meetings before submitting our final application to the MIC,” they said.
“Marga Landmark, as always, is a law-abiding and responsible developer. We have been and are complying with all necessary and legal procedures pertaining to the MIC permit for our entirely new project.”
The company’s original project along with four others was cancelled by the President’s Office after much debate, and developers were told they would be offered new locations.
At the time, observers said compensation would be crucial to maintaining foreign investor confidence in Myanmar’s nascent property market, as the developers had put considerable time, money and effort into the projects and were following the law.
Source : http://www.mmtimes.com/