Yangon high-rise review divides officials

  The chair of Yangon Region parliament’s economic committee has spoken out in support of developers, after they were ordered by a separate committee to change their project designs as part of a city-wide review of high-rises under construction. Daw Sandar Min, who heads the regional Finance, Planning and Economic Committee, said developers had suffered “enormous […]

Experts call for stronger property laws in Myanmar

MYANMAR’S real-estate market would become more buoyant if regulations on pricing and related issues were to be strengthened, experts said recently. At the “Property Report Congress Myanmar 2016”, developers and bankers urged the government to improve infrastructure and regulatory reforms. Tony Picon, managing director of Colliers International Myanmar, said the country needed to control property […]

Buyers Remain Cautious as Condominium Law Approved By Parliament

Burma’s outgoing Union Parliament on Friday approved a new Condominium Law, clarifying some property regulations and making 40 percent of units available for foreign purchase. Three years in the making, the law is expected to breathe new life into a stagnating real estate market, though industry professionals predict foreign investors still await more reform. Under […]

Services Likely to Play Key Role in New Economic Plan, Experts Say

Burma’s service sector, not manufacturing, will likely be the focus of national attention after the new government is formed in March, observers predict. The country’s economy is expected to hit a lull in the post-election period, but experts say that the incoming administration will attempt to boost the service sector to keep the national economy […]

Yangon office rents fall by 20 per cent

Office rents in Yangon have begun to fall for the first time in four years as foreign firms adopt a wait-and-see attitude ahead of the election, according to a research company. New Crossroad Asia (NCRA) quoted Robin Aung Soe Naing, manager of Pronto Services, as saying that in early 2015 office rents fell by 20 […]

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 […]

British launch new Chamber of Commerce

The British Chamber of Commerce Myanmar launched on July 16 about a month after receiving government approval, becoming the latest business group to formally open its doors in Myanmar. The organisation aims to provide a network for the business community to represent business interests, and will work with United Kingdom Trade and Investment to support […]

Hoteliers hope to get slice of expanding market in Myanmar

YANGON: Myanmar is in urgent need of more quality and affordable hotel rooms to meet its forecast of attracting over three million tourist arrivals in 2015 and 7.5 million international visitors by 2020. By the end of 2013, it is expecting to welcome two million visitors. By the first quarter of 2016, Sedona Hotel Yangon […]

Foreign investment in Myanmar surges, office rents sizzle

Myanmar has approved more foreign direct investment in the past five months than all of last year, but companies setting up operations in the hot frontier market face a growing problem: Southeast Asia’s highest office rental rates. Myanmar has approved FDI projects worth more than $1.8 billion from the start of the fiscal year on […]

Yangon More Expensive Than Manhattan Sparking Boom: Real Estate

Sean Danley has spent the past six months scouting office space in Yangon after being sent to establish the Myanmar branch of his U.S.-based employer. He looked in the city’s three sole 1990s-era towers, where annual rents have climbed to more than $100 a square foot, compared with less than $75 in downtown Manhattan, according […]