fbpx

Myanmar, Korea to Build Industrial Facility North of Yangon

YANGON—Myanmar’s Urban and Housing Development Department (UHDD) on Thursday signed a joint venture agreement with Korea Land and Housing Corporation to establish a joint industrial complex in Hlegu, north of the commercial capital Yangon. Comprising industrial and commercial areas as well as a research-and-development facility and a training school, the Korea Myanmar Industrial Complex (KMIC) […]

Vacant plots in two Yangon-area industrial zones to be leased out

Some of the vacant land plots in Hlaingtharyar Industrial Zone-3 and Shwepyithar Industrial Zone-1 will be leased out to local and foreign investors in dollars, according to the Urban and Housing Development Department. The department will lease 3.5 acres of land in the Hlaingtharyar zone and 2.5 acres in the Shwepyithar zone. A supervisory committee […]

New plans needed for rapidly growing Yangon, says housing director

The government needs to prepare plans to deal with a shortage of infrastructure and the increasing number of crimes, said Myint Naing, deputy director-general of the Urban and Housing Development Department at the Ministry of Construction. Yangon, with a population of over 5 million people, is also the country’s fastest growing city and will become […]

Prices of condo apartments fall by 20-30 % in Yangon market: real estate agents

U Nay Min Thu, managing director of iMyanmarHouse.com, a property website, said the commercial city of Yangon saw a 20 to 30 per cent decline in the prices of condominium apartments in comparison to 2013, according to a report of the Myawady Daily issued on Saturday. “Now the country’s property sector is facing a market […]

Rules to new Condominium Law now being refined, will be enacted soon

Regulations to the 2016 Condominium Law, which will be enacted soon, will allow foreign nationals to take a maximum stake of 25 percent in a condominium property, among other new provisions, said U Nway Hmu, deputy director of the housing division under the Urban and Housing Development Department. The real estate market in Myanmar has […]

Two low-cost housing projects put out to tender

Subscribe to our tender alert mailing list The Urban and Housing Development Department put two low-cost housing projects out to tender on Monday. The deadline for bids has been set on September 30. The winning bidder will build affordable apartment complexes on 31 acres of land in the Thilawa Special Economic Zone in Thanlyin Township […]

Myanmar expects competitive realty prices by 2018

Exorbitant property prices, highlighted as one of the biggest business barriers in Myanmar, are expected to be brought down to a level competitive with that of neighbouring countries by 2018. Moe Thida, deputy director of the Construction Ministry’s Urban and Housing Development Department, told the Myanmar Global Investment Forum last week that some measures have […]