Condo Law sent back to the drawing board

Weaknesses in the recently completed draft Condominium Law need to be addressed before it can be promulgated, according to officials from the Department of Human Settlement and Housing Department (DHSHD). Although it is targeted to become law this year, some in the industry have pointed to a number of problems with the current draft. Virtually […]

Boeing to assist Myanmar’s Air Mandalay to lease B737 NextGens

Boeing (BOE, Chicago O’Hare) has signed a Memorandum of Understanding with Air Mandalay (6T, Yangon) pledging to assist the Myanmar-based operator in its efforts to source B737 NextGen aircraft via lease. “This memorandum is an important step in our growth strategy,” Dato’ Adam Htoon, principal of Air Mandalay, said “Due to the growth of tourism […]

Myanmar invites tenders to build Thilawa ports

The Myanmar Ports Authority has announced eight construction tenders to construct a general cargo port and a container loading dock using Japanese development aid. The port will be part of the Thilawa Special Economic Zone, an industrial complex south of Yangon, and building is due to start this year. “We are looking for qualified international […]

Myanmar Trade Centre reopens after decade-long closure

The Myanmar Trade Centre will resume its operations and local businesses are expected to lease exhibition and meeting venue, Directorate of Trade, Ministry of Commerce, said yesterday. The MTC was shut down following a bomb explosion in May, 2005. Its reopening is slated for later this month. Business operators can lease the MTC for showcasing […]

Rental fees in Yangon still on the rise

The rental fees for houses and apartments in Yangon will be increasing until July, according to the real estate experts. The monthly rent for housings varies between Ks 200,000 to 300,000 (US$200 to 300) for an apartment; Ks 2.5 to 30 million (US$2,500 to 3,000) for a condo; and Ks 4 to 5 million (US$4,000 […]

Lawyers’ Network to battle MIC over court tenders

Members of the Lawyers’ Network have protested against a government decision to lease two court buildings to private companies and have threatened to sue the Myanmar Investment Commission. About 50 lawyers from the network walked from the High Court on Maha Bandoola Park Street to Small Claims Court on Strand Road during the May 28 […]

Myanma Airways to Lease 10 Boeing Jets With Expansion in Mind

YANGON — Myanmar’s national flag carrier Myanma Airways has inked a deal with General Electric Capital Aviation Services (GECAS) to lease 10 commercial aircraft, and has enlisted GECAS’s AviaSolutions consulting arm to create and implement a strategic growth plan for the airline. The subsidiary of the US conglomerate General Electric signed a contract with Myanmar […]

Local company proposes lease of Coco Islands for Island Resort

A local company has submitted a proposal to government to lease out the Coco Islands for fifty years according to an official from the Yangon Regional Government. Located in the northeastern Indian Ocean, the Coco Islands is part of the Andaman archipelago and are abundant in natural resources which still remain unexploited. “A local company […]