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Sale of condo apartments can earn more dollars: MCEA President

The country can earn more dollars swiftly by selling condominium apartments according to the Condominium Law at a time when there is a scarcity of dollars in the country, said Shein Win, President of Myanmar Construction Entrepreneurs Association (MCEA) at a talk on the Condominium Law, at Pan Pacific Hotel in Yangon on August 26. […]

Construction sector under threat from high tax, interest rates

Unreasonably high tax and interest rates could lead to the collapse of Mandalay’s already ailing construction sector, U Shein Win, vice chair of the Myanmar Construction Entrepreneur Association (MCEA) told The Myanmar Times last Friday. Capital gains tax on the sale of a property in Myanmar is currently 30 percent, which is deterring activity in […]

Yangon to Commence Southwest New City in April

Yangon Southwest New City will be implemented by a joint venture agreement between the Yangon Region government and local construction developers, and the government expects the implementation process to start on April 1, 2017. The new city project was discussed by lawmakers at the Yangon regional parliament session last week and the regional government submitted to […]

Developers courted for role in Yangon project

Min Htein, the director general of the Urban and Housing Development Department at the Construction Ministry, said: “According to our master plan, the project includes 49 [18-storey] buildings. The government would greatly benefit from financial input from the private sector. “Through cooperation with development companies, we will be able to fulfil Yangon’s need for accommodation. […]

Affordable Housing Projects Affected as Funds Dry Up

​​ In a serious blow to thousands of would-be home-owners, the construction of affordable homes in Yangon’s Ayeyarwon and Yadanar housing projects has been suspended because the money has run out, government officials say. Urban and Housing Development department director general U Min Htein told The Myanmar Times on December 6 that the government lacked the funds to […]