Why the construction sector is ailing and how it could recover

To help the construction and real estate sectors expand and stay profitable, government support in the form of tax and loan policy reforms is necessary, developers said. Currently, developers must pay taxes of up to 10 percent on the sale of condominium units priced between K100 million to K500 million. Meanwhile, buyers must pay a […]

Affordable Housing Still Unattainable for Many

​​ RANGOON — In an effort to build low cost and affordable housing across Burma, the Myanmar Construction Entrepreneurs Association (MCEA) and Singapore-based consultancy Surbana Jurong signed a memorandum of understanding (MOU) at Sule Shangri-La Hotel on Friday morning. Government-owned Surbana Jurong has played a role in urban development and public housing in Singapore. The […]

Condominiums not covered by Condo Law

Nearly all of Yangon’s recently constructed “condominiums” may not qualify as condominiums under the draft Condominium Law, according to Yangon City Development Committee engineering deputy director U Nay Win. The draft law has been submitted to the Pyithu Hluttaw, but it stipulates a condo must be built on freehold land or land that was granted […]