The Discussion of U Nay Min Thu, Managing Director of iMyanmarHouse.com in the Real Estate Show Myanmar 2015 (Part -2)

Posted by May Thet Hnin (iMyanmarHouse.com)

Moderator: What are the new methods to carry out for e-commerce in the future?

U Nay Min Thu: Now, online payment has already become a list of biggest financial figures in Myanmar’s economy. For e-commerce, we need a fairly good payment method. Now we have many payment methods. But most of them have not worked yet. The people do not believe the market share yet. We have to use a low-cost and long-term benefits payment method for e-commerce.

Moderator: where do you see more investments in Myanamar?

U Nay Min Thu: The real estate sector is now in stable condition. Because everyone is monitoring the election process and most of them are foreign investors. They are monitoring the election’s results. They would make the investment based on the results. Moreover, Condominium Act is being drawn in 2015 and it would be choosen before the end of this year. This law will be emerged how many percent of the condominiums the foreigners can purchase.

Moderator: Could you talk about the demand and supply situation?

U Nay Min Thu: Today, a lot of commercial properties are being built both in Yangon and Mandalay. With the development of the commercial sector, a lot of condominiums are build around Yangon in the late 2015. Consequently, the supply is excessively increased.

Moderator: What are the ways for the rise of the demand?

U Nay Min Thu: Basically, there are a lot of online businesses under our iMyanmar company, especially, iMyanmarHouse.com. This is a well-known Myanmar Property Website. Monthly Property Magazines are distributed under iMyanmarHouse.com. We need offline presence. So, we are still selling from offline book shops like Citymart.