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MBF signs K2 billion funding agreement with Yoma Bank

Mahar Bawga Finance (MBF), a Myanmar non-banking finance institution (NBFI), and Yoma Bank last Friday signed a semi-collateralised funding agreement under which Yoma will provide MBF with K2.2 billion in funds to support its operations. The agreement, which aims to address growing borrower demand for unsecured loans for personal or business development, could see MFB […]

Collier Property Report – Yangon Office Q1 2018

Rate Corrections Continue Despite Lack of New Supply Headline lease rates corrected further downwards during Q1 2018 despite the lack of new supply. Occupancy rates, however, improved, particularly in developments which underwent significant price reductions previously. As more international standard office buildings become available Colliers expects rental rates to continue to correct albeit at more […]

Yangon suspends property project near Mya Yeik Nyo Royal Hotel

Residents are objecting to a real estate development project earmarked for construction near the Mya Yeik Nyo Royal Hotel at Pale Street, Bahan township, as it is near Kokkine reservoir, which supplies water to nine townships in Yangon. Locals are concerned about potential damage to the reservoir and water pumping station, as well as obstruction […]

Regional Government Limits Drone Use in Yangon

The Yangon region administration department has banned the flying of drones in 16 townships to ensure the safety of aircraft landing and taking off at the Yangon International Airport. The order is effective since November 28, the agency said. People who violate the order can face up to six months imprisonment, a fine or both, the […]

Drones Banned in Yangon Townships Due to Airport Hazard

For the safety of flights landing at Yangon International Airport, Yangon Region General Administration Department has issued an order dated November 28, banning drones and other unmanned aircraft (UA) in 16 townships in Yangon. An official of the Yangon Region GAD said the covered townships are North Okkalapa, North Dagon and East Dagon in the […]

Colliers Property Report – Yangon Office Q3 2017

Upward Trending Demand amid Stabilised Rents Demand for office space has improved over each of the last five quarters as rents have stabilised at competitive levels. As of Q3 2017, the average occupancy rate reached more than 70%, a level last seen in 2015. Looking forward, economic reforms such as the new Myanmar Investment Law […]

Child workers to be surveyed in six Yangon townships

​​ The Ministry of Social Welfare, Relief and Resettlement will conduct a survey on underage child workers in six townships in Yangon to inform efforts to provide education and health services to out-of-school children, said Minister Dr Win Myat Aye at the Upper House. He added: “The ministry launched its survey in Sanchaung and Kamayut […]

Analysts Say 2016 is the Worst Year for Rangoon Construction Sector

​​ RANGOON — Rangoon’s construction market faced its hardest year in 2016, as a result of changing government policies during a market cooldown, say critical industry observers. During the best development years, 2005 to 2014, high-end condominiums and low-cost apartments sprung up around Rangoon, construction and real estate observers said. As the market neared its […]

Govt Hunts Down Illegal Immigrants in Yangon

The Yangon authorities will investigate Ks 5,000 (US$3.8) shops to know whether they harbour illegal immigrants today (November 28), sources say. The operation began after Yangon Minister Zaw Aye Maung for Rakhine ethnic affairs stated  that he would take action against illegal immigrants in Yangon at a regional parliamentary session. The Yangon City Development Committee […]

Drones must steer clear of Shwedagon

Shwedagon Pagoda is now a no drone zone. Unmanned aerial vehicles (UAVs) are not welcome to fly over the famed pagoda or its grounds without prior permission, the pagoda trustee committee announced at a September 30 press conference. The board of trustees said the ban has been in place for a year, but has not […]