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Suu Kyi Government's Economic Policy Still a Mystery

  • Developers stand to lose millions under new height regulations
  • International investors say risks currently outweigh benefits
YANGON, MYANMAR - FEBRUARY 6: Buildings are seen in Yangon through a netting used to protect buildings from construction sites February 6, 2012 in Yangon, Myanmar. In the unreliable and volatile market of Burma many big investors have put all of their money in the real estate market as a building boom continues in Yangon. As the country opens up to the outside world and Suu Kyi begins her campaign ahead of April 1 by-elections, her decision to stand for a seat in parliament is the latest sign of dramatic political changes taking place in the country.
Photographer: Paula Bronstein/Getty Images
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Developer Bo San had already sold all the units in his 12-story high-rise in Yangon in Myanmar when he was forced to halt construction. Three months later he faces the task of having to remove two floors to comply with new height regulations, at a cost of $8 million.

Since May, the regional government of Aung San Suu Kyi’s ruling National League for Democracy has suspended work at 185 construction sites across Yangon, and ordered the number of floors to be reduced at a dozen previously approved buildings.