Wednesday 27 February 2013

Crown Advance snaps up auto centre despite protest

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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