Slips for Hpa-an’s affordable housing project sold off to third parties

Entitlement slips for units in an affordable housing project to be built in the vicinity of Hpa-an’s Industrial Zone, Kayin State, are already being bought and sold, local real-estate agents have told Myitmakha News Agency. The ‘slips’, which require the holder to pay off the value of the affordable housing unit with a sum of […]

Korean cars in demand in Mandalay

Mandalay, August 1 – the last week of July reportedly saw a rise in demand for Korean vehicles purchased on credit within Mandalay car trading centers. Korean cars entered the Mandalay market back in 2013, with sale figures so far this year seeing 150 vehicles sold, compared with just 80 vehicles reportedly sold throughout the […]

Hope yet for Nay Pyi Taw’s real estate market

Real estate agents say they hope Nay Pyi Taw’s “sluggish” property market will pick up as the new government takes the reins early next year. Land prices in the capital enjoyed a brief surge in 2013, first when Myanmar held the Southeast Asian Games, and then as Myanmar assumed the chair of ASEAN. But while […]

CB Bank chair to open industrial zone

The chair of one of Myanmar’s largest banks is turning his hand to a new sector, with a plan to open Taungoo township’s first industrial zone, which he hopes will entice hundreds of thousands of migrant workers back to the area. Chair of Co-operative Bank U Khin Maung Aye also chairs the Kaung Myanmar Aung […]

Ayeyar Hinthar opens Ayeyarwady Farmers Development Bank

Ayeyarwady farmers could benefit as early as next year from a bank being set up to promote the development of agriculture, and eventually industry and fisheries. The regional government, with 15 partners of the Ayeyar Hinthar Companies Group, is launching the bank, known as the Ayeyarwady Farmers Development Bank, or Abank. Farmers can take out […]

Myanmar launches Thilawa industrial zone

THANLYIN, MYANMAR — Dignitaries from Myanmar and Japan on Wednesday launched the first phase of a huge industrial zone on the outskirts of Yangon, as the long-isolated nation pushes to rapidly accelerate its industrialisation. Housing everything from children’s toy manufacturing to a car assembly plant and a deep-sea port, the Thilawa Special Economic Zone (SEZ) […]

YCDC postpones land auction indefinitely

The Yangon City Development Committee (YCDC) has postponed its land auction to a future unspecified date after facing a widespread opposition, reports say. The committee put up 74 plots in North Oakkalapa, Thingangyun, South Dagon Myothit, North Dagon Myothit, Dagon Myothit Seikkan, Thaketa, Yankin, Dawbon and Shwepyitha for auction in August. The plan, however, received […]

Hmawbi residents in the dark over new city

Hmawbi township feels a long way from Yangon. Located just beyond the city’s northern limits, it is well known for supplying vegetables and fruit to the markets in Myanmar’s commercial capital. The main roads are busy but the area is rural and underdeveloped. Its tallest buildings are two six-storey towers beside the Hmawbi Myot Ma […]

Wage war

Negotiations are currently being held in Rangoon which may pave the way for an official minimum wage in Burma. A workshop between employees’ representatives, international labour organisations, government officials and the parliament-appointed National Committee for National Wage (NCNW) began on Sunday at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and […]

Yangon Govt to Seize 80% of Idle Industrial Land from Speculators

YANGON — Yangon’s Industrial Zones Management Committee has received business proposals for only about 20 percent of the idle land holdings in divisional industrial zones by a government-imposed deadline this week, according to Myat Thin Aung, chairman of the Hlaing Tharyar Industrial Zone. The divisional Industrial Zones Management Committee, under Yangon’s Department of Human Settlement […]