Real Estate Market Revives Over New Bago Airport Project

Real estate market has revived in Bago region as a new international airport project was to be signed, according to an official report. The Bago real estate market went cold during 2015 but the prospective signing of an agreement between the government and the airport contractors has caused the price of land in the region […]

Pattko Alleges Foul Play in Economic Zone Tender; Calls for Re-examination

Pattko Global Development Company, which was one of the bidders for the tender of the second central economic zone project in Yangon, has alleged opaqueness in the tender awarding process and called for re-examination. The company said that the country has lost billions because of offering low rental rates to the winner. U Tin Hlaing, […]

Yangon Land Taxes to be Reassessed

The standardised assessments of land and houses will once again be redefined for the townships in Yangon according to market condition in order to collect taxes, a senior official from the Internal Revenue Department said. U Myo Zaw Win, assistant director of IRD, told Myanmar Business Today, “We cannot identify the standard prices on our […]

Saha cancels Myanmar estate

Saha Group, the country’s leading consumer product conglomerate, has scrapped plans to set up an industrial estate in Myanmar, citing high land prices in the neighbouring country. Chairman Boonsithi Chokwatana said the group decided not to develop its own industrial park on a 1,000-rai plot in Myanmar after studying the project’s potential for a few […]

Villages, Residents Stand in Way of Dawei Rubber Farm

Sixteen villages inhabited largely by indigenous ethnic Karen people in Dawei district, where a major special economic zone in southern Myanmar is planned, will be leveled to make way for a large-scale rubber plantation, according to local residents. The 50,000-acre plantation in southernmost Tenasserim Division will be operated by Myanmar Mahar Dahna Co. Ltd. in […]

Property transactions slowed in 2014

The rate of property transactions likely dropped in 2014 following two years of heady growth, according to experts. While 2012 and 2013 saw an unprecedented boom in buying, concerns the market may be overheating and government moves to curb runaway prices together dampened purchases. Phoenix real estate agent Ko Htun Htun said he reckons purchase […]

MIC to take action against foreign investment registering locally

A crackdown is coming to foreign investment circumventing rules by registering under the names of Myanmar citizens, according to Myanmar Investment Commission (MIC) secretary U Aung Naing Oo. The commission first announced in early 2012 there would be a grace period for foreign investment to re-register properly and promised future action against offenders which did […]

Invitation to open tender for 85 acres Danyinkone Wholesale Market to construct in Insein Township; Closing Date: January 1, 2015

Subscribe to our Tender Alert. We send out email alert on Tender and EOI as it happens. Danyinkone Wholesale Market for flowers, fruits and vegetables to construct in Insein Township Invitation to open tender 1. The Yangon Regional Government invites open tender to local* companies interested to construct international Danyinkone Wholesale Market for flowers, fruits […]

Political reform causes instability in real estate market, says Lamudi report

Myanmar’s real estate market depends on the country’s political changes, according to the annual report published by online real estate marketplace Lamudi on November 29. The report highlighted five focal points – political reform, economic potential, limitation on foreign direct investment, property price changes and fraud in real estate business – that affect Myanmar real […]

Tender for upgrading 85-acre Danyinkone Marketplace opens

The 85-acre-wide Danyinkone Marketplace in Insein Township will be upgraded to a wholesale centre for flowers, fruits and vegetables. Bidding for the project has been opened. The Yangon Regional Government oversees the tender, and the project is slated to be implemented through a public-private partnership. The Yangon City Development Committee (YCDC) will provide the land, […]