CNI News

17 Mar 2023

As more than 50 percent of the construction of Dala bridge known as Korea-Myanmar Friendship Bridge has been completed, the demand for properties in Dala Township has increased and real estate prices have skyrocketed, according to residents and property agencies.

Thanks to the bridge construction project, the demand for land plots have grown and property prices have increased month by month. The prices of land plots, which were sold at MMK 80 million per plot previously, have risen to MMK 150 million currently, Ko Min Min of MKTT Property Services told the CNI.

Ko Min Min said, "Depending on the percentage of completion of the bridge, people are interested in buying land plots in Dala. More than 50 percent of the construction of the bridge in Yangon have been completed. Another reason is the depreciation of Kyat. So, some people have invested in land plots. The demand for land in Dala has grown. Land prices have increased day by day. Land prices are rising by millions of MMK within one month. As a result, more people are interested in buying land plots in Dala. In the past, the price of a 20x60 land plot stood at MMK 80 million. At present, the price of such a land plot has risen to MMK 150 million within one month."

A scene in Dala.

The demand for land plots near the bridge in busy Tapinshwehti Ward and Kyansittha Ward are in high demand.

The property market has been booming since the beginning of the year and residents are selling their land plots as they fetch high prices and moving to other wards where land is available at cheaper prices. As a result, business is brisk in the property market, U Aye Win, ward administrator of Yazathingyan Ward in Dala, told the CNI.

He said, "Business is brisk in the property market. The demand for land plots is growing. Dala have developed to some extent. So, some people are buying land. Local residents are selling their land plots and moving to places where land is available at cheaper prices as they need money for investment in their businesses and other expenses. Therefore, land prices have risen in the market since the beginning of the year.

Yangon-Dala bridge under construction.

So far, 53 percent of the construction of the bridge has been completed and the bridge is scheduled to complete in 2024, according to the Ministry of Construction.

With the construction of the bridge, plans are underway to supply water from Gyuphyu Reservoir to Dala to solve the issue of water shortages in Dala, according to residents.

Residents and property services have expected the demand for real estates in Dala will be higher after the issue has been solved.