New bank offers long-term low-interest loans for housing purchases

The Construction and Housing Development Bank (CHD) is considering a plan to provide long-term, low-interest loans to people who want to buy homes. The bank was launched in January with an initial capital of Ks 100 billion (US$100 million) and operates under the supervision of the Ministry of Construction. The bank was licensed by the […]

Nissan and Mercedes race to enter the Myanmar market

Competition among global automakers to establish their brands in Myanmar is intensifying with Nissan and Mercedes joining the race to take advantage of the market’s long-term growth prospects. Although used cars currently comprise up to 99 percent of annual domestic sales, industry insiders say automakers are staking out territory with an eye to future market […]

Foreigners await condominium law to buy apartments

Foreigners are waiting for Parliament to pass the condominium law as they are more interested in buying condo and apartments compared to other types of accmmodations in Myanmar, according to the construction companies in Yangon. The Japanese investors also showed great interest in buying condominiums, they said. Most of the foreigners, who have been living […]