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Mya Khwa Nyo Housing Project to be built under Chinese investment

YANGON- Myanmar will be implementing Mya Khwa Nyo Housing project which cost over US$ 70 million joining hand with the Chinese investment, according to the press conference organized by Myanmar Investment Commission held on January 19th.

The project will be built on over 3-acre wide land plot in Tharkayta Township, Yangon Region.

“It is China- Myanmar joint venture project. We are going to implement Commercial and Residential Buildings and to rend and sell again,” said Kyaw Win Tun, Director from Directorate of Investment and Companies Administration (DICA).

During the commission’s meeting(1/2018) held on January 15th , Yangon Golden River Investment Co.Ltd which is China-Myanmar joint venture was given green light to Mya Khwa Nyo Housing project which includes Construction, Selling, Leasing and Management of Commercial and Residential Buildings.

Most Myanmar entrepreneurs are now investing in housing projects in 2017-18 fiscal years, according to the DICA. There are US$ 1.06 billion of foreign investment in Myanma housing infrastructure.

Secretary Aung Naing Oo, Myanmar Investment Commission, said at the Myanmar Investment Outlook Seminar-2008 that due to newly Company Law, enactment of by-law concerning Condominium, Myanmar’s real estate market which calmed for a long time would be active.

Source: Eleven Myanmar

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