At a foundation stone laying ceremony held on May 3, Yangon Region government Chief Minister Phyo Min Thein said that Mingalar market which was damaged by fire in 2016 would be rebuilt within two years starting from April 1.
It will have 15 storeys with 2 storeys for parking, 3 storeys for the market and the remaining 10 storeys will be for residential and office areas. It will be built by San Myat Tun Company.
The new market will reportedly cost 68 billion kyats and vendors will be given shops on their original floors. The new building is expected to be opened in 2020.