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 […]

Twelve enterprises recently permitted by MIC

The Myanmar Investment Commission (MIC) permitted 12 enterprises which are in line with investment regulations and laws in the current fiscal year 2017-2018, according to a recent meeting of MIC. A total of 4,343 job opportunities are created from those permitted enterprises. They consist of two Myanmar citizen enterprises, two foreign enterprises and eight joint […]

Real estate market remains cool, expert says

Interview on 9 June with U Khin Maung Than, chair of the Myanmar Real Estate Services Association by May Thet Hnin, a reporter for the Global New Light of Myanmar. Q: What is the current conditionof real estate market? A: First of all, let me give you a brief history of the real estate market […]

Sales of apartments booming thanks to instalment payments

Instalment housing under K30 million are experiencing strong sales within the real estate market, according to U Yan Aung, general manager of Asia Construction. “Within the market, sales of instalment housing in the lower price range, ranging from around K10 million, are booming. The majority of the people are purchasing normal apartment units with an […]

Applications for public flats invited

Yangon regional government has announced people can apply for public rental apartments in South Dagon Township from Monday until February 15. An official said: “People need to get the forms at their township general administration offices. The rent will be Ks30,000 per month.” About 1,200 homes are planned with applicants picked at random if demand […]

Parliament passes condominium law

Mired in legislative gridlock until the dying days of the outgoing government, the condominium law finally squeaked through parliament on January 22 after years of back-and-forth argument between the upper and lower houses. The president still has to approve the law, but in principle foreigners will now have the right to buy up to 40 […]

Informal contracts risk bite buyers

Most property buyers are using informal contracts that fall short of transferring full legal ownership and fail to stand up in court, a senior official from the Internal Revenue Department (IRD) told The Myanmar Times. A variety of property purchases – including those of apartments and condominiums – are usually made using informal contracts. But […]

Housing project prices spark public anger

The price of apartments in Myanmar’s largest housing development project, which will be sold to buyers later this year, has been met with anger from the public. Low-cost housing is being built in Dagon Seikkan township in Yangon. StaffLow-cost housing is being built in Dagon Seikkan township in Yangon. Staff The 120-acre Ayeyarwon development project […]

Rental fees in Yangon still on the rise

The rental fees for houses and apartments in Yangon will be increasing until July, according to the real estate experts. The monthly rent for housings varies between Ks 200,000 to 300,000 (US$200 to 300) for an apartment; Ks 2.5 to 30 million (US$2,500 to 3,000) for a condo; and Ks 4 to 5 million (US$4,000 […]