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Colliers Property Report – Myanmar Retail Quarterly Q4 2018

E-commerce and experiential retail growth potential promising Summary & Recommendations Myanmar can be considered a latecomer to the e-commerce wave, having experienced international isolation until 2011. While the country’s e-commerce future looks favourable, a huge amount of work from the government remains, particularly in improving the legislative framework, information and communications technology, and payment infrastructures. […]

Colliers Property Report – Myanmar Condo Q3 2018

NET TAKE-UP UNCHANGED AMID SLIM VOLUME OF UNITS LAUNCHED SUMMARY & RECOMMENDATIONS Despite the limited number of units launched in Q3 2018, the citywide take-up rate remained unmoved. While we see more legislative efforts slowly taking shape, likely also to regain both buyers and developers’ confidence, addressing the overall affordability concern should primarily drive condominium […]

Colliers Property Report : Yangon Retail 3Q2018

SUMMARY & RECOMMENDATIONS As at the end of Q3 2018, citywide occupancy level remains at a healthy state, however a slight decline was observed following the recent flight to quality for some tenants. Given the strong development pipeline for 2019, along with the changing demographics such as the increasing young population, Colliers encourages both developers […]

New location for cancelled Shwedagon project

  The Myanmar Investment Commission has given Marga Landmark approval to build its mixed-use project on a new site, after the president called off the Hong Kong-based developer’s project last year, deeming the initial location too close to Shwedagon Pagoda. The project will now be built on 17.7 acres at the corner of Kabar Aye […]

Once-Cancelled Dagon City 1 Project Relocated to New Site

RANGOON — The government has relocated a controversial international development project to a new site after it was suspended seven months ago following a public outcry over its proximity to the Shwedagon Pagoda. The Myanmar Investment Commission (MIC) on Friday approved a new 17 acre site for Marga Landmark’s Dagon City 1 mixed use project, […]

President’s Office to grant ministry land to Shwedagon developers

The President’s Office will grant ministry-owned land in Yangon to five companies, as compensation for cancelling their projects beside Shwedagon Pagoda earlier this year, a senior official said. The five large developments were to be built on Ministry of Defence land beside Myanmar’s most famous religious site, but were called off permanently in July, following […]

Developer quietly terminates project near Shwedagon

Marga Landmark has agreed to follow the government’s order to terminate the project Dagon City 1 luxury development. “While everything we have done is proper, legal and for the best interest of our customers and the public, we respect the public sentiment, particularly that of the Sangha members, and we are working with the government […]

Compensation key for cancelled projects

Popular concern that the projects could undermine nearby Shwedagon or block the view of the famous landmark was driven by the monk-led Save Shwedagon Campaign. Yet the companies themselves had put considerable time, money and effort into the project, and as far as they knew were following the law. With the developments now finished, experts […]

Shwedagon and Yangon cannot be divided, says forum speaker

Shwedagon Pagoda is the historical and cultural centre of Yangon, and if its character should fade, the character of Yangon will also fade away, said Daw Hlaing Maw Oo, assistant director of the Department of Human Settlement and Housing Development’s Urban and Regional Planning Division. If modern high-rise buildings are built close to the pagoda, […]

Developer warns against rumours on paused project

MARGA Landmark has issued a statement clarifying its mixed-use Dagon City One project and warned against what it calls critics spreading wrong information and engaging in groundless speculation. Dagon City One is one of five projects that have been temporarily suspended by government authorities since February, following public concern that the projects may affect the […]