Building a better Condominium Law

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 […]

Authorities to confiscate unused Myanmar farmland

Authorities in Myanmar’s central Mandalay region plan to confiscate some 40,000 acres of unused farmland to use for the nation’s interests, an official said today. Land ownership is one of the most contentious issues in Myanmar, where the former junta was accused of rampant confiscation during its 50-year rule. The new civilian government led by […]

Transportation and communication sector receives largest investment

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

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?

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

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 […]