HAGL begins presales of residential towers

HAGL Myanmar has begun presales for its 32-storey residential buildings, as it nears finishing its first phase of office space and a hotel. The HAGL Myanmar Centre on Kabar Aye Pagoda Road near Inya Lake and the Sedona Hotel is owned by Vietnam’s Hoang Anh Gia Lai. Earlier this year, the entire project was valued […]

Condo developers go small-town

As the market for condominium developments in Yangon becomes increasingly crowded, developers are looking at other locations across the country for opportunities to build new projects. Yangon’s skyline is changing quickly as developers race to build high-end condominiums, but elsewhere in Myanmar, the pace of growth has been much slower. Mandalay’s first condominium was built […]

Yangon authorities join calls to end idle industrial land

Yangon authorities have added their voices to calls for an end to the practice of buying industrial zone land and then holding it fallow in the hopes of flipping it for profit. Genuine investors are often put off by the high costs for industrial land, and deputy industry minister U Myo Aung on March 17 […]

Yangon appraisals fixed for property transaction taxes

Transaction taxes on Yangon property will become harder to avoid beginning October 1st as authorities complete a city-wide assessment of neighbourhood values, according to Yangon Regional Revenue Department officials. The moves comes in an attempt to combat buyers claiming an artificially low value for their home purchases in order to avoid paying a transaction tax […]

Myanmar retail rental rising

The rising price of rent for Yangon’s street-level shops is being driven by an influx of potential tenants, with some locations demanding six-fold increases from two years ago, store owners say. They said that rapidly rising rental costs are eating into their profits, but constant demand for prime locations is expected to keep commercial rents […]