New location for cancelled Shwedagon project

  The Myanmar Investment Commission has given Marga Landmark approval to build its mixed-use project on a new site, after the president called off the Hong Kong-based developer’s project last year, deeming the initial location too close to Shwedagon Pagoda. The project will now be built on 17.7 acres at the corner of Kabar Aye […]

Once-Cancelled Dagon City 1 Project Relocated to New Site

RANGOON — The government has relocated a controversial international development project to a new site after it was suspended seven months ago following a public outcry over its proximity to the Shwedagon Pagoda. The Myanmar Investment Commission (MIC) on Friday approved a new 17 acre site for Marga Landmark’s Dagon City 1 mixed use project, […]

President’s Office to grant ministry land to Shwedagon developers

The President’s Office will grant ministry-owned land in Yangon to five companies, as compensation for cancelling their projects beside Shwedagon Pagoda earlier this year, a senior official said. The five large developments were to be built on Ministry of Defence land beside Myanmar’s most famous religious site, but were called off permanently in July, following […]

Developer quietly terminates project near Shwedagon

Marga Landmark has agreed to follow the government’s order to terminate the project Dagon City 1 luxury development. “While everything we have done is proper, legal and for the best interest of our customers and the public, we respect the public sentiment, particularly that of the Sangha members, and we are working with the government […]

Compensation key for cancelled projects

Popular concern that the projects could undermine nearby Shwedagon or block the view of the famous landmark was driven by the monk-led Save Shwedagon Campaign. Yet the companies themselves had put considerable time, money and effort into the project, and as far as they knew were following the law. With the developments now finished, experts […]

Shwedagon and Yangon cannot be divided, says forum speaker

Shwedagon Pagoda is the historical and cultural centre of Yangon, and if its character should fade, the character of Yangon will also fade away, said Daw Hlaing Maw Oo, assistant director of the Department of Human Settlement and Housing Development’s Urban and Regional Planning Division. If modern high-rise buildings are built close to the pagoda, […]

Developer warns against rumours on paused project

MARGA Landmark has issued a statement clarifying its mixed-use Dagon City One project and warned against what it calls critics spreading wrong information and engaging in groundless speculation. Dagon City One is one of five projects that have been temporarily suspended by government authorities since February, following public concern that the projects may affect the […]

Changes to five condominium projects mulled by YCDC

Yangon City Development Committee is now putting together a master plan on five paused construction projects after two other official bodies weighed in with recommendations, according to government officials. The five were initially suspended in late January following concern from some members of the public and government officials that the height of the projects may […]

Yangon Condominium Market Report 4Q 2014

Subscribe to our Myanmar Property Mailing List and get notified immediately whenever we have a new report Research & Forecast Report Yangon | Condominium Market 4Q 2014 Project launches increase despite weakening take-up rate Developers remained confident as project launches continued to soar in 2014, hitting a new record high of 4,150 condominium units, tripling […]

Five projects near Shwedagon are suspended

Five large construction projects have been suspended by government authorities due to concerns over proximity to Shwedagon, according to local media. The Thu Kha Yadanar Co, Shwe Taung Hday Development, Dagon City 1 by Marga Landmark, Shwe Taung Development and Adventure Myanmar Tour and Incentives projects have all been put on hiatus while Yangon and […]