Military officials have announced that they have cancelled the lease agreement for a US$ 500 million mixed-use project in Yangon because the developer had breached the terms of the deal, according to an article in Frontier. The project was being overseen by developer Zaykabar, which intended to build 12 high-rise towers on 13 acres of military-owned land in Yangon’s Bahan Township. According to the article, members of the Yangon Cantonment Board, which manages military-owned land in Yangon, held a press conference last week announcing the termination of the project, which had already faced objections from local residents. At the press conference, the board’s secretary U Moe Min Win said the the agreement was cancelled because Zaykabar did not follow the terms of an agreement signed in 2014. He said the company had paid less than half of the US$41 million it was expected to pay over two years. He added that the company had also demolished two buildings on the Yangon City Heritage List, even though the agreement said they could only conduct soil testing.