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 […]

Review orders dramatic changes to Yangon high-rises

Yangon authorities have told 12 developers to drastically change their project designs, in the first round of feedback following a drawn-out review of high-rises across the city, according to documents released yesterday, seen by The Myanmar Times. Developers have responded with anger and frustration, accusing the local government of lacking transparency because its assessment criteria were not made […]

High-rise suspension drags on

Developers desperate to restart suspended high-rise projects in Yangon remain in limbo as a government review drags on. Members of the Yangon Region government committee tasked withconducting a final inspection on 64 buildings say they are still awaiting reports on the first 12, and will not continue inspections until those reports are in. The construction industry […]

Condo buyers struggle with hire-purchase payment

Developers of residential projects in Yangon have found themselves with less cash than expected, as buyers fail to stick to the terms of hire-purchase plans and do not make regular payments. An underdeveloped banking system means real estate developers tend to fund their projects through off-plan sales. Myanmar has no mortgage system and as some buyers cannot […]

Smaller apartments coming due to rules on space between buildings

Developers will need to construct new buildings further apart from existing structures according to new rules to begin next month. The rules’ drafters say it is an attempt to cut down on disputes and leave room for air conditioning units, though contractors say it will squeeze space for apartments and complained that too many rules […]

Myanma Railways to invite EOI for Comprehensive Commercial Development for Kyimyindine Railway Station Complex; Closing Date: August 5th, 2015

Subscribe to our tender alert mailing list THE GOVERNMENT OF THE REPUBLIC OF THE UNION OF MYANMAR MINISTRY OF RAIL TRANSPORTATION MYANMA RAILWAYS COMPREHENSIVE DEVELOPMENT FOR KYIMYINDINE RAILWAY STATION COMPLEX INVITATION TO SUBMIT EXPRESSION OF INTEREST FROM DEVELOPERS 1. In line with the National Development Plan, the Government of the Republic of the Union of […]

Developers hope Condo Law brings life back to market

Developers are pinning their hopes on completed Condominium Law this year to jumpstart the quiet property market. Foreigners are currently barred from buying condo units, though a draft of the law has said foreigners would be able to purchase units on the sixth floor or above, up to a maximum of 40 percent of the […]

Critics call for fairness in selecting developers for deep-sea port and SEZ

As the developers for the Kyaukphyu deep seaport and several special economic zone (SEZ) projects will be selected in late January, critics are calling on authorities not to give Chinese developers precedence over other international companies. Thilawa SEZ, Dawei SEZ and Kyaukphyu SEZ have been mapped in Myanmar. Kyaukphyu SEZ is the only one with […]

Office Market in Yangon 1Q, 2014

Subscribe to our Myanmar Property Report Mailing List Research & Forecast Report Yangon | Office Market 1Q 2014 Yangon prime office rents, highest in the region Developers continue the process of trying to absorb anticipated demand as the country opens up to more inbound investment. To date, Yangon’s office stock is at 112,000 sq m, […]