Myanmar property group sees its future in consumer sector

In the heart of Yangon, the commercial capital of Myanmar, the former headquarters of Myanmar Railways is surrounded by white steel frames. The historic redbrick building, more than a century old, is being restored and will be the future site of the Peninsula Yangon, a luxury hotel set to open in 2021. The grand structure […]

Electricity subsidy is wrong, Pun tells minister

Business leader Serge Pun weighed into the debate on the country’s energy tariff reforms at the Myanmar Global Investment Forum in Nay Pyi Taw on September 11, calling the electricity subsidy “wrong” and saying that the authorities are not pushing reforms due to “political sensitivity.” “I think it [subsidising electricity] has always been a wrong […]

NYDC – Making Steady Progress; SEMP, Urban Master Planning (CEO’s Weekly Blog – 11 September 2018)

Dear Friends, We have been quiet, but that doesn’t mean we have not been busy. August has been a hectic month as we plough through documents and conduct various negotiations and discussions. Here I’m happy to update you on a few key things. SEMP: Dual Objectives The SEMP is an important document that will serve […]

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 […]

Plenty of political will but no cash for New Yangon project

Large areas west of the Yangon River here look dark and depressed, at least from an airplane taking off or landing from the capital’s airport after sunset. In stark contrast to the city center, on the east side of the river, where high-rise commercial buildings and shiny condominiums are popping up, the opposite bank gives […]

Serge Pun Blog on NYDC’s 1st Townhall Meeting of 29 Jun 2018

Dear Friends, Last Saturday we held our first NYDC town hall meeting. More than 600 attendees and close to 1,000 viewers joining us via Facebook Live, and there were nearly 25,000 views after the event. It is heartwarming to see the level of interest and the desire of the public to want to have a […]

New Yangon City Project CEO Questioned About Role of Chinese Firm

YANGON—Serge Pun, the CEO of the controversial New Yangon City project on Saturday partially disclosed the terms of a deal with a Hong Kong-listed Chinese firm that could see it provide infrastructure for the first phase of the development. The revelation came amid a question and answer session at a public meeting organized by the […]

Massive Yangon City Expansion Renders Naypyitaw Pointless

Myanmar’s business capital of Yangon will see a massive expansion to accommodate its growing population and make the city more business-friendly and livable, the regional government said. This will make custom-built capital Naypyitaw, located 367 kilometers in the north in the middle of nowhere, an even more pointless city, observers noted. The New Yangon City […]

Myanmar devises roadmap for expansion of Yangon city

YANGON, June 24 (Xinhua) — Myanmar’s Yangon regional government has formed a new firm to draw up a roadmap to undertake expansion of the financial center to make it a business-friendly and livable city. The first and second phases of the huge project of the New Yangon City Development Company (NYCDC), which is fully owned […]

Myanmar’s eco-resorts open up Asia’s new tourism frontier

KAWTHAUNG, Myanmar — A few hours boat ride from the port of Kawthaung, a school of dolphins nudged up to our 30-meter wooden junk. As the captain cut the engine, their silver backs heaved in and out of view; all else was still. Behind us, the Tanintharyi coastline — Myanmar’s skinny southern tail, fringing the […]