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FMI ventures into affordable housing

First Myanmar Investment (FMI) will be investing in the affordable housing sector in a bid to offset falling revenue from its construction businesses, FMI chair Serge Pun said during the firm’s 26th annual general meeting, held at the Yangon National Theatre, on July 29. He said the domestic property sector has no demand as those […]

Investments in low-cost housing projects are a bit huge: Yangon Chief Minister

Local entrepreneurs are not in a position to invest in the low-cost housing projects to be developed for around 150,000 squatters in Yangon as the capital investment is a bit huge, Yangon Region Chief Minister Phyo Min Thein said at Yangon Investment Forum 2018 held at the Union of Myanmar Federation of Chambers of Commerce […]

New plans needed for rapidly growing Yangon, says housing director

The government needs to prepare plans to deal with a shortage of infrastructure and the increasing number of crimes, said Myint Naing, deputy director-general of the Urban and Housing Development Department at the Ministry of Construction. Yangon, with a population of over 5 million people, is also the country’s fastest growing city and will become […]

Property buyers eye Dagon land as owners sell for losses

For buyers interested in purchasing land or homes in Dagon, now could be a good time to take closer look at the property market in the area. Land prices in South Dagon have been falling even though property sales have been robust. According to Ma Cho New, a local real estate agent, sales improved after […]

Yangon to build 200,00 units of low-cost housing

Low-cost housing projects totalling about 200,000 units will be built in Dagon, Hlinethaya and Shwepyitha townships in Yangon Region starting in December to provide homes for the increasing number of migrant workers, said Chief Minister Phyo Min Thein. “There are a large number of people entering Yangon for job opportunities. We are planning to provide […]

Property prices skyrocket due to speculation and laundering

The most widely heard analysis is that Myanmar’s real estate and property market has been gradually rising based on two genuine factors. One is the growing demand for housing due to ever increasing population in urban areas and the other is the government’s urban expansion and development of low-cost housing projects. This generally ignores another […]