Also known as Yangon-Dala Bridge, regional Chief Minister U Phyo Min Thein confirmed construction to begin in this month, at a regional investment committee meeting in July.

"Following our forecast earlier this year, there is a high chance for the place to become a new area of interest for future investments once the bridge is completed," says Colliers International Myanmar.

Spanning the Yangon River, the bridge is funded by South Korea’s Economic Development Cooperation Fund (EDCF)—will link downtown Yangon and Dala Township.

"We see the commercial and economic development expanding from Downtown Yangon to this area where opportunities for large-scale, master-planned mixed-use development are lucrative, says Colliers.

South Korean builder GS Engineering & Construction has won a construction deal in Yangon, the biggest city and former capital of Myanmar.

According to GS E&C, it received a letter of acceptance from Myanmar’s Construction Ministry last week for the project worth 174 billion won ($154.8 million). With the government paying over 3.64 billion kyats in compensation to residents for land, that was needed for the project.

A 4.3-kilometer-long bridge will be built to connect the central business district in Yangon with the Dala area, the company stated.

"To support this, the government should encourage the developments to take place by finding ways to clear the obstacles, such as to have sufficient electrical supply, new or better transportation routes, skilled workforce, and convenient policies, says Colliers.

Media sources state regional Chief Minister Thein also said that some Yangon Bus Service (YBS) lines will have to be diverted. Bonegyi Street will be closed to YBS buses for a year and five months from Aug. 1, 2019 through October 2021.

The four-lane, cable-stayed bridge will be 6,144 feet long with a clearance of 160 feet and flanked by a 4-meter-wide pedestrian walk, according to the Construction Ministry.

Source: Colliers International Myanmar

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