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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 […]

Joint Approach Coming for Low-Cost Housing Projects

Government will enter into join ventures with businesses to stimulate low-cost housing projects on public land, according to the Department of Human settlement and Housing Development. In an effort to stimulate construction of needed low-cost housing, public-private developments will be allowed on government land, the department said. Land will be provided by the government and […]

4.8 Million Housing Units Required by 2040

The government’s national policy on housing will take into account the country’s urbanisation and urban migration. Myanmar’s commercial capital will need 1.07 million housing units by 2040 and the entire country will require an additional 4.8 million units by then, according to an official from the Ministry of Construction. The whole country will need 4.8 […]

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 […]

Affordable Housing Still Unattainable for Many

​​ RANGOON — In an effort to build low cost and affordable housing across Burma, the Myanmar Construction Entrepreneurs Association (MCEA) and Singapore-based consultancy Surbana Jurong signed a memorandum of understanding (MOU) at Sule Shangri-La Hotel on Friday morning. Government-owned Surbana Jurong has played a role in urban development and public housing in Singapore. The […]

Applications invited for low-cost apartments of Construction ministry starting from 28th November

A list of people who have saved a 30 per cent deposit to purchase low-cost apartments developedby the Construction Ministry has been released by the Construction and Housing Development bank branches (CHDB). Those who are in accord with the prescribed rules are entitled to submit applications starting 28 November, according to an announcement released by […]

New housing project in Mawlamyine estimated to produce about 2,000 units

The Urban and Housing Development Department under the Ministry of Construction plans to implement a new housing project in Mon State estimated to build about 2,000 new units.   The department submitted a proposal to the Mon State government in September to carry out the housing project on vacant plots in the east of Mawlamyine- […]

CHDB to announce plan to sell low-cost apartments

The Construction and Housing Development Bank has announced that it will release new policies for selling low-cost apartments to depositors who can pay 30 per cent of the total value in an initial instalment. Win Zaw, the managing director of the CHDB, said: “People can save their money at the CHDB. They will have a […]