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Developers asked to pay security deposit on jointly owned buildings

FOR construction of jointly owned buildings, developers will now have to hire an appraiser and deposit 15 per cent of the estimated value of the property with a bank, according to the Yangon Region Collectively Owned Buildings Construction Management Committee. “Currently, developers don’t have an appraiser to calculate the partial value of jointly owned buildings. […]

Yangon blighted by housing woes

There’s no doubt many Yangon residents want to own their own home in the city as soon as possible, especially those with families or planning to start one. But for many city folks, the prices of new housing units, even those classified as low-cost housing, are beyond their reach given the current state of the […]

Colliers Property Report: Yangon Condominium Quarterly Review Q2 2018

    Developers Remain on the Lookout Paul Ryan Cuevas Analyst | Research & Advisory Developers’ confidence remained downbeat as reflected on the absence of new launches as of Q2 2018. While few select developments have significantly lowered their selling prices, citywide take-up rate further lagged downhill. The introduction of more lower to mid-tier projects […]

Buyers have the upper hand in beleaguered condo market

The Myanmar condominium market has developed considerably on the back of changing demand trends in recent years. These days, buyers are looking beyond location and price. They’re now taking size, nearby amenities and resale value into account when purchasing a new condo. The evolving trends could jumpstart growth in the ailing condo market and mark […]

New industrial zone projects to be developed in Yangon

The government is planning to develop the new industrial zone projects in Yangon as foreign investors have to pay higher land rental, according to the pre-briefing on Yangon Investment Forum 2018, at Cooperative Business Centre in Yangon on May 2. Myo Khaing Oo, Joint-Secretary of Yangon Region Investment Committee said: “There currently are 30 industrial […]

Car park regulations are stunting the Yangon condo market: Colliers

While the passing of the Condominium Law and its related rules is positive for the condo market in Yangon, the city’s car park regulations are the biggest barriers to growth in the market, said Mr Tony Picon, founder and director of Colliers International Myanmar, during a recent seminar on the Condominium Law and Rules hosted […]

Mayor promises speedy review of high-rise projects

Yangon Mayor U Maung Maung Soe said the government did not suspend any additional construction projects involving high-rise buildings on March 6. He made the comments in the regional legislature. MP U Hla Thein from Tamwe township asked if the government has plans to greenlight the construction projects. “Suspending construction projects which have already started […]

Myanma Railways, Invitation to submit expression of Interest from property developers in Insein Area development. Closing Date: 15 Jan 2018

  In line with the National Development Plan, the Government of the Republic of the Union of Mynamar has been identifying the economic potential to contribute to the country’s economic development. As our endeavors for national development, Myanma Railways (MR) is committed to develop Danyingone Station Area as Rail Concerned Business, High-rise Building, Comprehensive Development […]

Developers courted for role in Yangon project

Min Htein, the director general of the Urban and Housing Development Department at the Construction Ministry, said: “According to our master plan, the project includes 49 [18-storey] buildings. The government would greatly benefit from financial input from the private sector. “Through cooperation with development companies, we will be able to fulfil Yangon’s need for accommodation. […]

Developers to discuss suspension of high-rise buildings

Developers are due to meet to discuss the suspension of high-rise building projects in Yangon before submitting complaints to the authorities and the members of parliament. High-rise building projects were suspended on 14th May, raising concerns among entrepreneurs and threatening job losses to engineers, staff and laborers at construction sites. “We are carrying out the […]