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YCDC takes ownership of nearly 500 apartments in Yangon

The Yangon City Development Committee (YCDC) has taken temporary ownership of 496 apartments in Yangon, and leased 238 units to government employees. Now the committee will raise the rental fees by 10 percent starting with the beginning of 2020 Fiscal Year, according to U Maung Maung Soe, Mayor of Yangon. When a legitimate owner of […]

Myanmar initiates low-cost housing for squatters in Yangon

Myanmar’s Yangon regional government has initiated a project of developing apartments on state-owned land to tackle the issue of squatters and the project will be implemented in September, according to the office of the regional government on Wednesday. “The regional government will offer a long term installment payment plan to squatters to help them purchase […]

Yangon govt plans to build about 10,000 apartments each for squatters in six townships

Yangon Region government is planning to implement housing projects for squatters with about 10,000 apartments each in four Dagon townships and Hlinethaya and Shwepyitha townships, said Chief Minister Phyo Min Thein at a seminar on Slums and Informal Settlements in Yangon “The Way Forward” held at Summit Parkview Hotel in Yangon on August 5. “We […]

Rental transactions rise in Yangon, even as larger market stays muted

The market for rental property, which is the lifeblood of the real estate sector in Yangon, rebounded during first quarter of this year, with more units getting rented out rather than sold. However, the overall environment of the property market remains muted, industry analysts and leaders said. Late in April, the rental of apartments in […]

City Loft opens for sale on the back of rising demand for Thanlyin property

Units of City Loft apartments in Thalyin, Yangon, are now open for sale. Developed by Yoma Land Company, the project targets middle-class buyers. City Loft will occupy 22 acres of land in the StarCity compound in Thalyin, another project developed by the Yoma Land. Phase 1 of the project, which is expected to be complete […]

MI signs MoU with foreign insurance companies for housing projects

Myanmar Insurance (MI) signed a Memorandum of Understanding (MoU) with Japan, Germany and Malaysia to cooperate on insurance services for the construction of one million housing units to be developed by the Ministry of Construction, at Myanmar Insurance on August 28. Dr Sandar Oo, Managing Director of Myanmar Insurance said: “The country needs to develop […]

Mandalay city to seize low-cost apartments flipped by owners

The Mandalay City Development Authority will seize apartments that have been resold and re-rented in low-cost housing buildings for squatters, a senior city official has said. U Kyaw San Myint, a member of the authority, said his office is compiling a list of people occupying the buildings on Strand Road west of Mandalay city. City […]

Property market to remain cool for now

Property market will continue to remain cool in the short run though it may become active beyond 2018, said Nay Min Thu, managing director of iMyanmarHouse.com, a local property website. “Dwindling property market may revive if there is a massive inflow of foreign investments into the market later in the year,” he added. There will […]

HAGL Myanmar introduces Myanmar Centre Business Suites ( Serviced Offices)

HAGL Myanmar has entered the leading serviced office market with the launch of its Myanmar Centre Business Suites in Yangon on 14th July, Friday 2017 at Myanmar Centre Office Tower. Strategically located on Kabar Aye Pagoda Road, in the heart of Yangon City, Myanmar Centre Business Suites is easily accessible and maintains an optimum distance […]

Singapore to invest $316m in housing

The Myanmar Investment Commission (MIC) has allowed two Singapore companies to invest over US$316 million in two Yangon housing projects, according to the Directorate of Investment and Companies Administration (DICA). “A Singapore company will invest US$35 million in a housing project and another firm will invest US$280 million in a separate project,” said an official […]