Official defends Yangon high-rise review as more results due

A member of the Yangon high-rise inspection committee charged with a city-wide review of high-rise projects has defended the controversial inspections, saying they are a “one off”, as developers brace for the second batch of results to be released tomorrow. Following a two-month blanket suspension on construction at all projects with nine floors or more, the committee released […]

MADB suffers loses of over K700 million in Tanintharyi Region

  Myanmar Agricultural Development Bank (MADB) for Tanintharyi Region has made public losses incurred during the previous 2015-16 fiscal year in the form of K737.26 million in non-performing loans. “We’ve never experienced such losses in the last 62 years. The last fiscal year was the first time we’ve suffered a loss. The main factor behind […]

Yangon chief minister to cut bridge tolls

  The new chief minister for Yangon Region plans to reduce tolls at a major bridge linking the city’s largest industrial zones to its downtown area and ports, in a move that would make exports more competitive. U Phyo Min Thein said he will discuss the toll rate with the Union government. Bayintnaung Bridge connects […]

Grand Andaman wins monopoly on Tanintharyi birds’ nests

Grand Andaman Islands Company has taken over the right to harvest birds’ nests on four groups of islands in Tanintharyi Region that were put out to tender, after the Union of Myanmar Economic Holdings failed to make a cash payment for one of the bids. UMEHL had won the right to produce and harvest swiftlet […]

Grand Andaman and UMEHL to harvest birds’ nests in Tanintharyi

Grand Andaman Islands Company has become Myanmar’s first private company to hold a licence to work alongside military-owned conglomerate Union of Myanmar Economic Holdings Limited (UMEHL) harvesting birds’ nests on a number of islands in Tanintharyi Region. The company, which also owns a casino resort in the Andaman Sea, won three out of four lots […]

Urban laws stuck in draft stage

The country needs modernised urban planning laws to keep with a rapidly changing real estate market, as legacy laws are unsuited for the purpose, according to experts. Yangon in particular faces numerous challenges that were not anticipated when the current urban planning rules were put in place. A slate of new laws and rules have […]

Yangon real estate prices still bullish

Real estate prices in Yangon are climbing to new heights, hitting prices of up to K700,000 per square feet at Pyay road, realtors say. “The real estate market has not yet reached a stable condition,” said U Win Naing, a real estate agent from Motherhouse Real Estate Agency. “Per square foot price can be as […]