A Yangon City Development Committee proposal to establish a business district in Yankin township has been met with mixed responses from local developers, with one firm suggesting the area is already too densely populated and would be better suited to residential development.
As part of a Yangon city master plan drafted in partnership with the Japan International Cooperation Agency, YCDC are targeting a business districts in five of the city’s townships in a bid to ease traffic congestion in downtown Yangon.
The long-term plan includes business zones at Mindhama secondary CBD in the city’s north, an area located in South Dagon township, one beside the Bago River, a commercial zone attached to Thilawa special economic zone and a business branch in Yankin township, said U Toe Aung, urban expert and deputy head of the City Planning and Land Administration Department of YCDC.
“We have planned Yankin township as a branch of the central business area of the city because it is in central Yangon, not too far from the downtown area and the outskirts of the city,” he said. “Transportation is also better than in other townships.”
Different from the tender approach undertaken at the US$350 million Mindhama project, Yankin has infrastructure in place, so the city would be promoting the area to potential business to take advantage of existing facilities while encouraging investment in upgrades, he said.
U Yan Aung, general manager of Asia Construction Company, said that Yankin township provided little room for development as it was already quite built up. He said, however, that promoting more businesses in the area could relieve traffic congestion.