Shweproperty.com is proud to announce their recent win in securing new foreign investment from serial Entrepreneur and investor: Justin Sway, to support and grow their online business in Myanmar. Shweproperty.com, is an online Real Estate Industry website and was the first online property website in
The website was founded in 2011 and is now one of Myanmar’s leading and fastest growing companies in the property website industry today.
Mr. Kaung Thu Win, the Founder and Managing Director, is excited about the next chapter of the company. “After almost 5 years of family ownership it was important to secure the right type of trusted partnership for the future growth of Shweproperty.com, and we found that through Justin Sway.” Said Mr.Kaung Thu Win. Kaung is a softly spoken individual that originally studied in Myanmar then went abroad to Singapore to gain work experience in various organizations. He always dreamt of starting his own business, and after gaining his selfconfidence in 2011, he eventually took the plunge by researching various online opportunities in Myanmar.
At the time, very few people had the Internet (especially as a simple mobile Sim card could cost thousands of US dollars), and there were definitely no property portals in the market. He saw this as an enormous opportunity, that one day everyone would have the internet in Myanmar, and it would happen in the near future.
Previously, people mainly read real estate journals, and the information was limited. So from his very cheap rented apartment in Bedok Singapore, he worked tirelessly after his normal day job and weekends to develop a new property website to accommodate Myanmar’s still emerging real estate market. With a very limited budget and only his savings, he had to come up with cheap but effective ways to promote the website, he even gained interest in the early days from a number of interested local journals and magazines.
Then in 2014, he decided to make the big move back to Myanmar to focus more on the website and run the business full time on the ground with only his limited savings to bootstrap the business. Even then, he did not have a budget for marketing, however he was still determined to try to hold what was his leading position in the market.
After 9 months of further bootstrapping, and seeing new rapid changes in the market like two new Telco’s – Telenor and Ooredoo implementing their nationwide telecommunications and Internet infrastructure, it was time to ramp up the business to compete more effectively against some of the new local and international rivals that were then entering the market, and this meant new investment, and more importantly new expert experience.
Then after meeting and speaking with numerous investment and advisory experts both locally and in Singapore for several months, the founder striked lucky after meeting Justin Sway in Yangon, on a chance visit as Sway was travelling through the country on his way to his other investments across Asia.
On further speaking to the Kaung Thu Win about the amount of new investment, he did not disclose the amount however he did say it was a significant 6 digit number that will fully support their growth. He also stated “We share a common commitment with our partners to deliver outstanding customer service. Now with the addition of strong financial and business experience, we will be able to reach new levels of service for our customers and the industry”.
Myanmar’s real estate market has grown rapidly in line with its phenomenal GDP rate in the country over the last 3 years. Due to changing government reforms, and the announcement of free and democratic elections at the end of 2015, Myanmar has experienced billions of dollars of new foreign investment in all sectors including Mining, Oil, Power and Manufacturing. The Telecommunications and Internet sector has skyrocketed from around 1.5% internet penetration to 5% and increased to 10% mobile penetration in only around 6 months.
Myanmar is definitely headed towards its targeted 50 – 60% Mobile and Internet penetration within the next 3 years, with total population of over 50 million people.
With this rapid growth, the real estate sector is booming, where the city skyline (once limited to less than a dozen tall towers, is now covered with an abundance of new buildings, condos and complexes either just completed or under construction – some of which will literally change the city landscape of Yangon within the next 1-2 years.
On speaking to both Kaung and Sway, the company’s new investment will be used to accelerate ShweProperty.com’s market leading position, further customer services and products to support Myanmar’s rapidly growing Real Estate sector, and deliver more value to property buyers and sellers in Myanmar and related International market.
Mr. Justin Sway said “We wanted to invest in a Founder that had passion and a sound business solution that could deliver benefits to the Myanmar people and it’s visitors; and grow with the country’s rapidly growing economy.
We got that with Kaung and his team, and with the addition of our solid business experience and support, we intend to grow the business in line with the rapid growth of the country, for the founder and our investment group.
Source: Shwe Property