Myanmar Housing Development Bank to open

yangon housingA new bank in Myanmar that focuses on housing loans for low-income families will open in September, according to their managing director.

The Construction and Housing Development Bank Limited (CHDB), licensed on July 15, 2013, aims to provide cheap housing through installment plans for low-income families, pensioners and government workers.

“We are planning to open a bank branch in one month,” said Win Zaw, Managing Director of CHDB.

The company aims sell up to 10 million shares at 10,000 kyat ($10.30) a unit. The CHDB will allow government employees, staff from private companies and international investors to invest in shares, according to the Ministry of Construction.

“For the low-income public, we assume that a financial system which allows a 20 to 30 years long term settlement may be suitable for them. Only then can the low-income public own an apartment. That’s why we are establishing CHDB,” said Minister for Construction, Kyaw Lwin on July 15.

City dwellers especially in Yangon are increased notably since 2000. According to statistics collected by Yangon City Development Committee, dwellers in Yangon are faced with shortage of homes. The number of families in the Yangon areas in relations to the available housing is 3.5 times bigger, according to Myint Swe, Chief Minister of Yangon region.



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A new bank in Myanmar that focuses on housing loans for low-income families will open in September, according to their managing director. The Construction and Housing Development Bank Limited (CHDB), licensed on July 15, 2013, aims to provide cheap housing through installment plans for low-income families, pensioners and government workers. “We are planning to open a bank branch in one month,” said Win Zaw, Managing Director of CHDB. The company aims sell up to 10 million shares at 10,000 kyat ($10.30) a unit. The CHDB will allow government employees, staff from private companies and international investors to invest in shares,...

yangon housingA new bank in Myanmar that focuses on housing loans for low-income families will open in September, according to their managing director.

The Construction and Housing Development Bank Limited (CHDB), licensed on July 15, 2013, aims to provide cheap housing through installment plans for low-income families, pensioners and government workers.

“We are planning to open a bank branch in one month,” said Win Zaw, Managing Director of CHDB.

The company aims sell up to 10 million shares at 10,000 kyat ($10.30) a unit. The CHDB will allow government employees, staff from private companies and international investors to invest in shares, according to the Ministry of Construction.

“For the low-income public, we assume that a financial system which allows a 20 to 30 years long term settlement may be suitable for them. Only then can the low-income public own an apartment. That’s why we are establishing CHDB,” said Minister for Construction, Kyaw Lwin on July 15.

City dwellers especially in Yangon are increased notably since 2000. According to statistics collected by Yangon City Development Committee, dwellers in Yangon are faced with shortage of homes. The number of families in the Yangon areas in relations to the available housing is 3.5 times bigger, according to Myint Swe, Chief Minister of Yangon region.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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