Marketing to the Super-Rich in Myanmar?

Selling high-end overseas properties, providing wealth management or private banking service to the super-rich? Do not know how to reach your target market of high net worth individuals (HNWI) in Yangon?

There are alot of hidden wealth in Myanmar. On a dilapidated street  in Yangon you can find a  Mercedes parked in front of a modern 7-storey apartment that only 1 family lives in. There is a servant assigned to each floor of the house. The modern building is totally out of character with the run down pre-war buildings that you find along that street. Next to the Mercedes is a Toyota Land Cruiser 4WD (covered in Grey canvas) and a Silent Diesel Generator (covered in Green canvas) that is 3 times the cost of a normal generator that most businesses use as a backup generator. This family is trying to be inconspicuous about its wealth.

There are alot of hidden wealth in Myanmar. On a dilapidated street in Yangon you can find a Mercedes parked in front of a modern 7-storey apartment that only 1 family lives. There is servant assigned to each floor of the house. The modern building is totally out of character with the run down pre-war buildings that you find along that street. Next to the Mercedes is a Toyota Land Cruiser 4WD (covered in Grey canvas) and a Silent Diesel Generator (covered in Green canvas) that is 3 times the cost of a normal generator that most business use as a backup power generator. This family is trying to be inconspicuous about its wealth.NB: I’m not able to show the dilapidated shops to the left and right of this building as it will reveal the location of the owner and I want to protect his privacy. Discretion is very important in gaining the trust of the super-rich in Myanmar.

The rich people in Yangon are very secretive about their wealth due to the low trust in institution in Myanmar. If you hold a wealth management conference in a leading hotel for HNWI in Yangon and advertised aggressively in the local newspapers most rich people will shun it as they do not want to attract the attention of the Inland Revenue Department.

Rich people in Myanmar however can easily be identified by where they live and how they live. First they don’t rent property – they own the property they live in – in fact they own many properties. Secondly is the number of luxury cars they have in their garage.

As there is no zoning law in Yangon – you will find in many dilapidated streets in Yangon 7-storey modern apartment blocks – owned and lived-in by one family and the ground floor is used as a garage for parking their big luxury cars. Of course there is the easy target in the fabled Golden Valley in Yangon where the rich are supposed to congregate.

We have built a database of over 2,000 high-end properties in Yangon that are owner occupied. Where the owner is either the proprietor of a big company in Myanmar &/or has inherited the property from his parents. We are able to deliver promotional packages, samples and mail drop to these houses. We can do sampling or intercept interview outside high end shopping malls and restaurants for your brand. We can also handle telephone enquiries and followup for you brand in Myanmar.

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