Foreign companies to be invited to build Yangon low-cost housing

Foreign companies will soon be invited through a public tender to build low-cost housing projects in Yangon Region, according to the Ministry of Construction. This will mark the first time foreign contractors are given access to the affordable housing sector in Myanmar. Ministry officials have said they will prioritise building housing for the poor, after […]

Govt plans 700-acre economic zone in northern Yangon

The construction ministry is planning to build an economic zone on 700 acres in Yangon’s Mingalardon township including residential and commercial buildings, an official has told The Myanmar Times. The land between Yangon-Pyay Road and No.3 Yangon-Mandalay Highway was transferred to the ministry’s Department of Urban and Housing Development in January this year for development, but […]

Myanmar company with factory space (8,400 sq ft) in Mingalardon (Yangon) looking for foreign business partner

Our client a local Myanmar company is looking for a foreign business partner that can use the remainder of the space at their factory. Currently client is only occupying 1/3 of the factory space which is just on the outskirt of Yangon near the airport. Looking for a foreign JV partner who can occupy the […]

Hundreds of families evicted from Mingalardon

Heavy machinery reduced the homes of several hundred families to rubble in Yangon’s Mingalardon township early yesterday, leaving residents in the rain with their meager possessions. The families were designated as squatters on the 560 acres of land leased to military-owned Myanmar Economic Holdings Company Ltd (MEHC). Nearly 500 houses had been built on the […]

Real estate agent still waiting

The property market has warmed up a bit after the election but it will fully recover only after the first quarter of next year, real estate agents said. Currently, some property deals are being carried out with the lower prices, but most people that come to the agents are checking prices but not buying, realtors […]

Yangon Region gas pipeline to finish up next month: MOGE

A new gas pipeline slated to supply Yangon Region’s power plants and factories will be complete in August, according to officials. Myanma Oil and Gas Enterprise started construction on the 56-kilometre (35-mile) natural gas pipeline in October last year. “All construction on the gas pipeline, which is 30 inches in diameter, will be completed in […]

Real estate roller-coaster

After shooting up in 2013 and 2014, excessive speculation and political uncertainties combined are pushing down exorbitant rents Rental rates for luxury apartments in some parts of Yangon have been steadily declining since September 2014, while rates for basic apartments have remained stable, according to real estate market forecasts. “The rental charges in the real […]

YCDC’s $10m toilet and toll-gate tender

Yangon City Development Committee has finished its annual tenders for private companies to run 37 businesses under its Departments of Revenue and Markets, such as toll gates and public toilets. The 37 separate tenders have generated about K9.97 billion (US$9.65 million) in income for city coffers, with the winning companies set to take over the […]

Ongoing housing developments fall short of local demand

Housing projects currently in progress in Myanmar can barely fulfill people’s need for shelter, according to the Department of Human Settlement and Housing Development. “Right now, public need differs from region to region. Few are working to fill these needs,” said Nay Min Htet, deputy director of the Department of Human Settlement and Housing Development […]