YCDC eyes business district development in Yankin

A Yangon City Development Committee proposal to establish a business district in Yankin township has been met with mixed responses from local developers, with one firm suggesting the area is already too densely populated and would be better suited to residential development. As part of a Yangon city master plan drafted in partnership with the Japan International […]

Death of rental book stores as readers switch to smartphones

Rental book shops may be losing the battle for young customers to the pull of social media, online gaming and the vast expanse of the internet. Stores that rent out comic books and other wares say they are seeing their customers distracted by a more high-tech pastime: surfing the web on smartphones. Children used to […]

Chinese-backed condominium project launches in Yangon

Chinese group Toener Investment has launched sales of a new five-tower condominium project in Yangon’s Yankin township known as Kanbae Towers. Units in the development, which will be built on 2.2 acres of land on Kanbae Road, went on sale in late March. Construction began in the middle of last year and the project is […]

New location for cancelled Shwedagon project

  The Myanmar Investment Commission has given Marga Landmark approval to build its mixed-use project on a new site, after the president called off the Hong Kong-based developer’s project last year, deeming the initial location too close to Shwedagon Pagoda. The project will now be built on 17.7 acres at the corner of Kabar Aye […]

Epic state auction hushes market

The big sell-off has finally arrived. The Privatisation Commission, charged with auctioning state-owned enterprises, on February 13 released a list of 268 sites that will be sold off nationwide, with a final bid submission date of February 24. There are 157 properties in Yangon up for grabs, including many in Bahan, Yankin, Insein, Hlaing, Mayangone, […]

Rental fees in Yangon still on the rise

The rental fees for houses and apartments in Yangon will be increasing until July, according to the real estate experts. The monthly rent for housings varies between Ks 200,000 to 300,000 (US$200 to 300) for an apartment; Ks 2.5 to 30 million (US$2,500 to 3,000) for a condo; and Ks 4 to 5 million (US$4,000 […]

Philippines’ Microtel Corporation prepares to invest in Myanmar

Philippine-based Microtel Corporation is preparing to invest in hotels, real estate and educational services in Myanmar, according to Myanmar Investment Commission (MIC). Jose Mari del Rosario, Chairman of Microtel Development Corporation, visited the Directorate of Investment and Companies Administration (DICA) in Nay Pyi Taw to discuss the rules and regulations regarding their investment. The Microtel […]

Surfing internet via smart phones , patrons logoff Yangon’s internet cafes

The boom in mobile phones is echoing in the empty spaces of Yangon’s internet cafes, owners say. “Internet users are decreasing at our internet cafe since MPT [Myanma Posts and Telecommunications] released K1500 SIM cards,” said an official at 8 Mile internet cafe. As a result, he said, most of his patrons are gamers. Those […]