Yangon official takes fresh aim at high-rise projects

A yangon official known for his outspoken views has publicly criticised two high-rise projects, including a Singapore-backed condominium, and says he has imminent plans to target several more. U Khin Hlaing, an executive member of the Yangon City Development Committee, has a history of campaigning against real estate projects . Last year, he was one […]

Parliament passes condominium law

Mired in legislative gridlock until the dying days of the outgoing government, the condominium law finally squeaked through parliament on January 22 after years of back-and-forth argument between the upper and lower houses. The president still has to approve the law, but in principle foreigners will now have the right to buy up to 40 […]

Malaysian luxury condos offered to Myanmar buyers

MYANMAR’S per capita annual income, at US$1,204, may be among the lowest in the world, but KAE Alliance believes there are plenty of rich people in Myanmar who can afford a luxury condominium unit outside the country. After offering condos in Singapore in the Myanmar market, the real-estate agency yesterday unveiled some luxury condominiums in […]

Foreign developers go all-out for commercial complexes in Yangon

As one of the poorer countries in ASEAN, Myanmar’s property market is not quite as well-developed as some of its Southeast Asian neighbours, but it is slowing catching up as a new wave of foreign commercial development in Yangon, the country’s biggest city, is on the rise, reports Nikkei Asian Review. Notable developments in the […]

Jade miner turns hand to Yangon condo

Nay Min Kabar Gems & Jade Mining Company has made its debut in the real estate sector, launching a mid-range condominium in Yangon through its subsidiary Green Development. Apartments in the Leaf Residence went on sale last week, spokesperson Ko Zaw Min Htoo told The Myanmar Times. Units are being sold-off plan for the 12.5-storey […]

Condo defaults forecast as the cash runs out

Off plan sales of condominium units in Yangon have slowed this year, following a three year boom. As a result, some developers are likely to be left without enough money to continue to build and will be forced to default on their projects, which could further hurt market confidence, say experts. “Of over a hundred […]

Changes to five condominium projects mulled by YCDC

Yangon City Development Committee is now putting together a master plan on five paused construction projects after two other official bodies weighed in with recommendations, according to government officials. The five were initially suspended in late January following concern from some members of the public and government officials that the height of the projects may […]

Capital City’s second phase kicks off next year: engineer

The second phase of the massive Capital City project on Insein Road in Hlaing Township – which will comprise commercial buildings – will begin next year, said Kyaw Zayya, an engineer from Capital Development Company. Owned by Dr Ko Ko Gyi, a member of the President’s National Economic and Social Advisory Council, the company is […]

State of Service Office Business in Yangon 2014

by Kevin Heng Introduction Myanmar, formerly known as Burma: the final frontier of foreign investment. A hitherto untapped market of 60 million in between the 2 most populated countries in the world. Such clichéd terms are often thrown around in any article one comes across when one is researching on how to invest in Myanmar. […]

Condo developers banking on diaspora dime

The developers behind a planned 27-storey luxury Yangon condominium project say they expect Myanmar expats living in Singapore to make up a significant share of their buyers following sales events planned for later this month. The consortium led by Singapore-based CapitaLand Limited will hold events in the city later this month to promote its 369 […]