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Myanmar tackles housing for poor

Though Myanmar’s real estate sector last year faced many challenges, the government is planning to meet the housing needs of low-income people by working with development partners and private companies, according to speakers at the Myanmar Infrastructure Summit 2018 held March 20 to 22. Win Naing, deputy director at the Department of Urban and Housing […]

Change in fiscal year insufficient to address shortfalls in budget process

While seen as positive, Nay Pyi Taw’s proposed change of fiscal year alone cannot address the lack of flexibility in the annual budgeting process, according to businesses. The adoption of multi-year budgeting should be implemented instead. Lawyers, investors and financiers told The Myanmar Times that while changing the fiscal year could bring some advantage to […]

Rules to new Condominium Law now being refined, will be enacted soon

Regulations to the 2016 Condominium Law, which will be enacted soon, will allow foreign nationals to take a maximum stake of 25 percent in a condominium property, among other new provisions, said U Nway Hmu, deputy director of the housing division under the Urban and Housing Development Department. The real estate market in Myanmar has […]

Union budget funds to go on housing projects in Ayeyawun and Yadana

Funds from the Union budget have been allocated to the construction of 11 residential buildings in Ayeyawun and Yadana. Eighteen other housing projects will be carried out in cooperation with private companies under joint ventures. The chairman of the Myanmar Construction Entrepreneurs Association submitted a proposal to Vice-President Myint Swe that the government provide more […]

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 […]

Malaysian Firms Eye Construction Prospects in Myanmar

YANGON — With its companies doing over US$1.6 billion worth of business in Myanmar, Malaysia was ranked as the seventh-biggest source of foreign investment into the country by the end of January 2014. And with Myanmar’s government touting big plans for upgrading infrastructure such as roads and railways, as well as building more houses for […]

Myanmar Medical Association construction plan was automatically revoked—YCDC

According to City authorities, a recent controversial plan to build a high-rise business tower at the compound of the Myanmar Medical Association (MMA) was automatically cancelled due to code violations. The Yangon City Development Council has set two restricted zones for construction of high-rise buildings near Shwedagon Pagoda, one of Myanmar’s most famous landmarks. If […]