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LexisNexis to Help Develop Property Data System for Myanmar’s Commercial Capital

YANGON—The Yangon regional government on Wednesday signed a memorandum of understanding (MOU) with LexisNexis Southeast Asia, a provider of information analytics, to help set up a reliable housing and real estate information system (HREIS) for Myanmar’s commercial capital. According to the regional government, LexisNexis will carry out the initial analysis for the HREIS, the first […]

Myanmar, Korea sign MoUs on preliminary survey of Dala New City Project and housing finance

Myanmar and South Korea have signed a memorandum of understanding on the preliminary survey of the Dala New City Project and an MoU on financial cooperation in the real estate sector, according to the Korea-Myanmar business forum held at the Lotte Hotel in Yangon on September 4. “As we launch Korea-Myanmar Industrial Complex (KMIC) and […]

Yangon Govt, Lexis Nexis ink MoU on real estate information system

THE Yangon Region government signed a memorandum of understanding (MoU) with Southeast Asia Lexis Nexis Co. Ltd for developing the Housing Real Estate Information System (HREIS) on 28 August in Yangon. Speaking at the signing ceremony, Yangon Region Chief Minister U Phyo Min Thein said there are nearly 1.6 million households in Yangon. Of them, […]

Yangon puts ‘girl power’ into green spaces

Hidden behind trees near a busy road in Yangon is a novel answer to two global hot-button issues: suffocating urbanization and sexual harassment. At one end of a newly-created park, a treehouse overlooks a wooden bridge, and at the other is a netted court where local boys play chinlone (caneball), Myanmar’s unofficial national sport. When […]

Tanintharyi to focus on tourism, property, mining

Tanintharyi Region, which is located to the far south of Myanmar bordering Thailand, is looking to attract investors in the hotel and tourism, real estate and mining industries during an investment forum the regional government is holding with the Myanmar Investment Commission (MIC) in October. Directorate of Investment and Company Administration (DICA) acting director general […]

Local property buyers investing overseas

Local property investors may not be buying much property in Myanmar at the moment, but a growing number have been snapping up units overseas. Sai Khun Naung Real Estate Company and Singapore-based real estate broker DWG will be holding an exhibition of luxury condominium properties from Thailand, Malaysia, UK and Japan for those interested in […]

FMI posts record profits for FY 2019

YANGON—First Myanmar Investment Public Company Limited (FMI) posted revenues of 297.7 billion kyats (US$196.3 million) for fiscal year 2019, a 36-percent increase over last year, the company’s chief operating officer announced at a press conference over the weekend. FMI—a part of the Yoma Group of companies—attributed the growth to strong performances from its Yoma Bank […]

FMI sees strong growth in finance, invests in real estate, tourism

Despite a drop in earnings in FY2019, Yangon Stock Exchange-listed First Myanmar Investment Public Company Ltd (FMI), said it continues to see potential for long term growth in finance, healthcare, real estate and tourism, the main sectors in which its businesses are involved. While earnings dropped by almost 42 percent to K14.4 billion for the […]

Yangon’s standard land prices reduced 10pc

Land prices on a per square foot basis in Yangon’s townships for the 2019/2020 fiscal year has been reduced by 10pc compared to the last fiscal year in order to support more sales transactions as well as encourage landowners to pay their taxes. The standard land prices were released by the Inland Revenue Department earlier […]

Hunting for value in Bahan

Property prices in Yangon have been trending downwards in recent years. But now that the rules to the 2016 Condominium Law are gradually being implemented and with economic growth projected by the IMF to rise to 6.6 percent in the next fiscal year compared to 6.4pc this year, it could be time to take a […]