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Colliers Property Report : Yangon Office 3Q2018

Summary & Recommendations Given the absence of new project completions, the citywide occupancy rate further inched up as at the end of Q3 2018. Meanwhile, the net absorption rate at the end of the quarter is only half the amount recorded from the same period last year. Looking ahead, we expect office demand to increase […]

Korean investments could kick start long-delayed construction of Dala Bridge

An industrial zone to be developed by the Yangon regional government and Myanmar Wooree Co, a South Korean firm, at the west bank of the Yangon River could be the impetus needed for construction of the much-touted Dala Bridge to commence. Once the bridge, which will connect downtown Yangon to the western side of town, […]

53 companies express interest in building Yangon’s ring road

A total of 53 local and international companies/ consortiums are interested in the 47.5-kilometre elevated ring road in Yangon, the Ministry of Construction announced on July 4. On May 18 last year, the Ministry of Construction (MOC) invited local and foreign investors to submit Expressions of Interest (EOI) for the construction of an elevated four-lane […]

Myanmar invites expression of interest for Yangon expressway

Myanmar’s Construction Ministry has invited expression of interest from local and international firms for a ring road expressway in Yangon, the ministry said in a statement on Monday. The 47.5-km elevated four-lane road will connect downtown Yangon, Yangon Port, Yangon International Airport, Mingalardon Industrial Park and the Yangon-Mandalay expressway. The firms are to design, engineer, […]

Expression of Interest for Yangon Expressway PPP Construction Project. Closing Date: 29 Jun 2018

The Republic of the Union of Myanmar Ministry of Construction Department of Highways Request for Expressions of Interest dated [18″‘ May, 2018] Yangon Expressway PPP Project The Ministry of Construction of the Union Government 01 Myanmar, coordinating with the Yangon Regional Government is planning to develop an elevated four-lane ring road expressway project in Yangon […]

Accor flies Mercure flag in Yangon

YANGON, 26 April 2018: After an extensive renovation, AccorHotels officially raised the first Mercure flag over a property in Myanmar’s commercial capital last week. Unofficially, the former Micas Hotel Apartments was rebranded Mercure Yangon Kaba Aye in the third quarter of 2017 and remained open for business, during a renovation that ended in March. Last […]

MPT Installs Fiber Internet Service in Downtown Yangon

On August 1 My­anmar Post and Telecommunica­tion (MPT) introduced its fiber-to-the-home (FTTH) internet service in Pabedan, a township in downtown Yangon. If there is a sustained de­mand for FTTH, MPT will extend its services to other townships, such as Latha and Kyauktada, U Thein Hoke, Deputy Chief Com­mercial Officer, told Myan­mar Business Today. “If Yangon […]

Map App Offers Local Take to Travellers

With tourist season in full bloom, travellers have become an increasingly common sight around downtown Yangon – often with sunburned noses buried in city maps. But for those looking for more than the classic pictures of street names and must-see spots, a newly updated smartphone app called iDiscover CityWalks offers a community-centric alternative. The Hong […]

Surging kyat closes foreign exchange desks

  Local banks suspended foreign currency exchange services yesterday as the kyat surged in value against the dollar, with financial industry sources variously pointing the finger at political speculation, market rumours and a lack of clear Central Bank policy. The kyat strengthened to K1248 against the dollar yesterday, according to the Central Bank’s rate, after […]

Yangon suburb real estate values rising

The price gap between real estate in downtown Yangon and properties in the suburbs has become very small, according to real estate professionals. The rates used to differ by two to three times back in the days, but the gap has become smaller since 2014. “In the past, when the rental rates in prime areas […]