Some Gov’t Housing Projects May be Rent-to-Own

A total of 1,864 apartments from affordable housing projects will be leased as rental units, said the Department of Human Settlement and Housing Development. The majority of low-income people cannot afford the price of low-cost apartments and even cannot pay the required down payment of 30 percent. “For low-income people, we will implement a rental […]

Government plans housing for 16,000 factory workers

The government is planning a housing rental project for 16,000 factory workers from Hlaing Tharyar and Shwe Pyi Thar industrial zones, according to Daw Win Maw Tun, deputy minister for labour, in the first such move to support the private sector. The housing will be dormitory-style for single men and women, with the intention to […]

Labourers to be Housed at Hlaingtharyar

A housing complex for labourers is set to be established in Hlaingtharyar in Yangon. U Myat Thin Aung, president of Hlaingthartar Industrial Zone, said that this housing complex is being established by the owners. The authorisation has been granted from the Department of Human Settlement and Housing Development for land rental under a five year […]

Affordable housing sold in installments

Affordable housing being built in Mandalay by the Ministry of Construction will be sold using an installment system, according to U Kyaw Kyaw Lwin, head of the Department of Human Settlement and Housing Development. Installments will be due over a four-year period, and the system is being used to make the housing more affordable, he […]

Yoma Claims Bumper Sales at Galaxy Towers

Almost 20 percent of the first release units of Yoma Strategic Holdings Ltd’s new residences at its flagship Star City project were reserved during the initial 24 hours of sales, the Singapore-based, Myanmar-focused conglomerate said. Yoma claimed it experienced “strong” sales at Galaxy Towers as it opened sales in mid-February and that “dozens of apartments […]

Kyaukphyu SEZ: Economic Reality or Pipedream?

The development of a special economic zone (SEZ) around Kyaukphyu in Myanmar’s Rakhine State could move closer to reality before the end of the year with the naming of tender winners for the development of factories, new housing and infrastructure. Twelve foreign and domestic firms have been shortlisted by the SEZ development committee, which failed […]

Kyaukphyu SEZ ‘Key’ to China Business Corridor, But Doubts Remain

Kyaukphyu port on Myanmar’s western coast could play a key role in a Beijing-led economic corridor plan linking neighbors India, Bangladesh and China. But economists and foreign policy analysts are divided over whether the Naypyidaw government’s ambitions for a special economic zone (SEZ) around Kyaukphyu in Rakhine State are viable. The so-called BCIM Corridor, for […]

Strict Lending Rules Limit Growth of Hire Purchase in Myanmar

Hire purchase is failing to catch on in Burma due to strict Central Bank rules limiting the length of credit agreements and demanding large amounts of paperwork from consumers, observers said this week. After private banks began to prosper in the country once again in 2010, there were signs a hire purchase market would take […]

Can Singapore capitalise on Myanmar’s opening?

Myanmar’s political opening has caught the world’s attention, and many countries are rushing to what has been called Asia’s last frontier market. Punishing sanctions by the European Union have been lifted, while Washington DC has suspended its measures. Seized by the economic potential of the country’s large market and rich resources, Western companies have responded […]