Sales in Yangon’s East North New City are ‘dreary’ say realtors

Yangon Mayor U Hla Myint told the regional parliament last June that the East North New City had been awarded first priority among the seven new city projects devised by the Strategic Urban Development Plan for Greater Yangon 2040. He stressed the importance of its location between the future Hantharwaddy Airport and Thilawa Port and […]

Developers hope Condo Law brings life back to market

Developers are pinning their hopes on completed Condominium Law this year to jumpstart the quiet property market. Foreigners are currently barred from buying condo units, though a draft of the law has said foreigners would be able to purchase units on the sixth floor or above, up to a maximum of 40 percent of the […]

Yangon zoning plan in limbo as experts push for re-start

Yangon’s zoning plan is due for a restart after contentious discussions meant the process had ground to a halt, according to U Toe Aung, urban planner with Yangon City Development Committee. “The zoning plan was recently halted as we contended with foreign developers who wanted to build high-rises,” he said. Authorities may be hesitating on […]

Authorities keep eye on high-rises near Yangon landmarks

City residents have taken to social media to call for protection of the city’s best views, particularly of its famous pagodas. Government officials involved in urban planning are keenly aware of the requirement to protect the skyline, adding there are mechanisms in place to check buildings above 12 storeys for a number of factors, including […]

Foreign ownership provisions in draft condominium law questioned

Foreigners’s ability to own condos has emerged as one of the central issue in the debate over the condominium law. The much-anticipated condo law has been a work in progress for years, with the most recent draft submitted to parliament in June. The draft is set to be discussed again by the Amyotha and Pyithu […]