Three companies have reportedly been selected for three “mega city development projects” in Yangon that cost a combined total of US$2.29 billion. An international report said that South Korean state-backed Korea Land and Housing Cooperation, and local companies Alliance Star Group of Companies and Shwe Taung Group will work alongside the Ministry of Construction on the projects in Yangon. The report said that the ministry will soon select the company to develop a planned “new city” at Pyin Oo Lwin, about two hours from Mandalay. The Yangon projects include the Korea Myanmar Industrial Complex in Hlegu Township, located on 555 acres of land and expected to cost $110 million. A second project, Eco Green City also in Hlegu Township, is a joint venture between the Ministry and Alliance Star and will include low-cost housing, hospitals and hotel zones, at an estimated cost of $2 billion. The third development, named Ayarwun-Yadanar Smart District Project, is at Dagon Seikkan Township, and will be between the Ministry and Shwe Taung, at a cost of $185.7 million for a housing development.