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Less Than One Percent of Rangoon-Dala Bridge Budget Allocated to Land Compensation

RANGOON — The government paid compensation to 66 landowners on February 17 to partially cover losses to be incurred during the construction of a bridge connecting downtown Rangoon with Dala Township. The five-year, South Korea-funded bridge project, also being called the Korea-Myanmar Friendship Bridge, will cost an estimated US$168 million. South Korea’s Economic Development Cooperation […]

Tritone Towers Puts Its Residents Above The Rest

South Korean conglomerate Hanwha Corp is making headway in their project to build a massive three-tower inclusive community called Tritone in the 8-mile area of Yangon. While the construction may be in its infancy, the firm claims that customers have been lining up to purchase the ultra-luxurious condominiums to be completed in late 2018; new […]

Over 20 Awards Up for Grabs at Myanmar Property Awards 2016

More than 20 awards will be dished out at the Myanmar Property Awards 2016 ceremony, organisers of the event said. The awards for this year will be given in condominium, housing, hotel, resort, servicing, renovation, office place and retail categories. The second edition of the annual event – a part of the Asia Property Awards […]

Few ‘condos’ qualify under new law, say experts

The new condominium law – which will grant international buyers access to Myanmar’s real estate market for the first time – has been widely welcomed, but experts say just a handful of properties are initially likely to be eligible. After years of debate between the two houses of parliament, the law was passed on January […]

Kokkine junction flyover opens

The Kokkine junction flyover, which was built simultaneously with the Tamwe and 8-Mile junction flyovers, opened to public on 31 January. The bridge, whose construction cost Ks 13.93 billion, was completed two months ahead of schedule. Capital Construction, the company that was awarded the rights to build the bridge through a tender process, reported that […]

MTSH Won’t Sell Thilawa Zone B Shares Yet

Myanmar Thilawa SEZ Holding (MTSH) Public Limited will not sell its ‘Zone (B)’ shares in the near future, according to the company’s second annual general meeting. There are three zones in the Thilawa Special Economic Zone development – Zone (A), Zone (B) and Zone (C). A total of 2,145,000 shares for Zone (A) have already […]

YCDC promises 45-day wait for licences

Yangon City Development Committee has pledged to lower the wait time for applying for contractor licences from months to weeks, partly as the number of applicants decreases. “We were receiving between 80 to 100 contractor applications for licences every month, but the number is now decreasing,” YCDC deputy head of building department U Nay Win […]

Yoma Claims Bumper Sales at Galaxy Towers

Almost 20 percent of the first release units of Yoma Strategic Holdings Ltd’s new residences at its flagship Star City project were reserved during the initial 24 hours of sales, the Singapore-based, Myanmar-focused conglomerate said. Yoma claimed it experienced “strong” sales at Galaxy Towers as it opened sales in mid-February and that “dozens of apartments […]

Vietnam firm marks initial step in penetrating Myanmar construction market

A Vietnamese construction company on Friday celebrated the ‘topping out’ of a tower complex in Myanmar, which it said is the first step in its bid to enter the Southeast Asian country’s construction market. Hoa Binh Corporation organized the topping out ceremony – a traditional rite held when the last beam is placed atop a […]

Yangon zoning plan in limbo as experts push for re-start

Yangon’s zoning plan is due for a restart after contentious discussions meant the process had ground to a halt, according to U Toe Aung, urban planner with Yangon City Development Committee. “The zoning plan was recently halted as we contended with foreign developers who wanted to build high-rises,” he said. Authorities may be hesitating on […]