Lack of clarity on foreign ownership, land use and building management committees in the Condominium Law are holding back growth in the property market. By DUNCAN BURRY When the Condominium Law was enacted in early 2016, many hoped it would provide a framework that could spur development in the sector, not least by permitting […]
Transportation and communication sector receives largest investment
November 4, 2016 by
Out of 93 investment businesses, the transportation and communication enterprises have received the largest investments as of the end of October in this fiscal year, it is learnt from the Directorate of Investment and Company Administration (DICA). The transportation and communication sector is placed at the top with an investment of US$1,014.48million, followed by the […]
YCDC postpones land auction indefinitely
September 17, 2015 by
The Yangon City Development Committee (YCDC) has postponed its land auction to a future unspecified date after facing a widespread opposition, reports say. The committee put up 74 plots in North Oakkalapa, Thingangyun, South Dagon Myothit, North Dagon Myothit, Dagon Myothit Seikkan, Thaketa, Yankin, Dawbon and Shwepyitha for auction in August. The plan, however, received […]
Who will benefit from Condominium Law?
July 1, 2014 by
Daw Min Min Soe only realised there was a problem with her apartment when officials from the bank arrived at her building and put up a notice reading, “If the owner fails to repay the loan and interest we will seize the apartments. he owner of the land in Pazundaung township had developed the eight-storey, […]
YCDC officials deflect permit delay claims
November 12, 2013 by
The Yangon City Development Committee’s (YCDC) building department hit back at claims that it delays issuing permits and does so improperly, during an October 29 press conference. U Maung Maung Zaw, the department’s head, said nearly 50 percent more permits have been issued in 2013 than in 2012. ‘’In the 2012-13 year we issued 2024 […]
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