Yangon New City Tender Awarded

• 10 July 2016
• Local News
• 3395 Views

Three firms have been awarded the tender to build the controversial 4,745 hectare Yangon New City development to the west of the capital.

mso-font-width:98%”>After being suspended for 10 months amid accusations of a lack of transparency in its initial bid, the government approved the project in late 2015. Yangon South West Development Public Company, Business Capital City Development Ltd and Shwe Popa International Construction Company were subsequently awarded the tender for the ambitious project which is expected to take 10 years to complete.

mso-font-width:98%”>The project is not part of the Master Plan proposed earlier by JICA for the development of Yangon City. The companies are now working to raise funding from local and foreign banks.