Developers push back on YESC power play

Dozens of construction firms sent a joint letter to the Yangon Region government challenging an August directive from the Yangon Electricity Supply Corporation to install transformers on new buildings that use more than 30 kilowatts of electricity. The letter, dated September 28 and signed by 40 local developers, says that not all construction companies can afford to […]

Yangon authorities appear to backtrack over high-rise review

Yangon city authorities appear to have come down on the side of angry developers in the row over the suspension of 222 projects either under construction or at the planning stage. Following a city-wide review of project designs, the suspension was ordered because the buildings reportedly violated draft zoning regulations. However, the draft in question has yet […]

Yangon officials wind up industrial land review

The Yangon Region government has finished a review of land price speculation in the city’s 29 industrial zones, which ultimately aims to free up thousands of vacant plots to be developed into factories. Empty plots will be reclaimed by the government, before being re-allocated to companies that really want to build industries, said regional minister […]

More effort needed to tackle idle industrial land

A month after the first site visits to inspect idle industrial plots in Yangon, officials are warning there will be no progress in freeing up unused land without a special committee that has the power and resolve to revoke the leases of absentee owners. Yangon Region government announced in late May that it was turning […]

High-rise suspension drags on

Developers desperate to restart suspended high-rise projects in Yangon remain in limbo as a government review drags on. Members of the Yangon Region government committee tasked withconducting a final inspection on 64 buildings say they are still awaiting reports on the first 12, and will not continue inspections until those reports are in. The construction industry […]

Yangon govt targets ‘failing’ power firms

Regional officials say they will investigate performance at private electricity providers and if necessary, cancel contracts signed by the former government, as frequent power outages continue across Yangon and frustrations are vented through social media. Four private companies signed with the previous administration to supply power to the city. They are not performing as expected, […]

Rent falls for Yangon expats

More supply and fewer foreign renters have caused rental prices in the high-end expat Yangon property market to fall, according to real estate industry figures – but a lack of data means the extent of the drop is hard to quantify. More landlords furnishing apartments to appeal to foreigner workers, the changing nature of the […]

Real estate agents warned off dirty money and foreign buyers

Real estate agents have been asked to watch out for attempts to launder money through the property sector and to avoid selling to foreigners or speculators. The Myanmar Real Estate Services Association (MRESA) recently met with international anti-money laundering organisations to discuss the ill-gotten funds that are reportedly laundered through the property sector, said U […]