Local Property News | Posted by Shwe Zin Win
Eight new companies were granted business licences to operate condominium projects by the Yangon region condominium management committee on 6 March, according to a notification published by the Department of Urban and Housing Development (DUHD).
The approval represents the third round of licences granted since 9 January, for the following companies:
1. Yangon Golden Paragon Investment, which is currently implementing Emerald Bay Residence in Thaketa township
2. United GP Development, with ongoing 68 Residence project in Bahan township
3. Aspidin Construction & Trading, with ongoing IVY Condominium project in Mayangone township
4. SCW Development Group, with ongoing Skysuites Condominium project in Yankin township
5. Htun Myat Aung, with ongoing The Century project in Hlaing township
6. Sustain Company, with ongoing Aung Theik Hti Condominium project in Mayangone township
7. Moon Sun Company, with ongoing Merchant Luxury Condominium project in Botahtaung township
8. A1 Construction, with ongoing Aspire Residence in Ahlone township and City Loft @ StarCity in Thanlyin township for which contract has been signed with project owner Yoma Land
Previouly, the Yangon condominium management committee has granted business licenses to 19 companies to operate condominium projects in townships of Yangon region on 9 and 23 January.
Companies issued business licenses at (1/2019) meeting..
1. Shwe Taung Development
2. Sae Paing Development
3. Tet Lann
4. Dagon International
5. Shwe Zabu Deik Construction
6. Myanmar Imperial Vega
7. One One One
8. Shine Construction
9. Nation Light
10. Mandalay Golden Wings Construction
11. Living Square Construction
12. Nay Gabar Myanmar Construction
Companies issued business licenses at (2/2019) meeting..
1. Ngapali Enterprise
2. Capital Development
3. iGreen Development & Engineering Group
4. Myanmar Seilone Construction
5. KHG Development
6. Modern Key Technique Construction (MKT)
7. Naing Group Construction
Some of the 19 companies have already started the registration process for condo units, such as Shwe Zabu Deik Construction for its ongoing Pan Swal Taw condo, Living Square Construction for its first condo project (Kabaraye Executive Residence), or Nay Ga Bar Construction for its recently completed Royal Maung Bamar Residence.
The formation of the Management Committees was a crucial step in implementing the new Condominium Law, as the committee is responsible for issuing licenses to developers, certifying developments as complying with requirements under the law and ensuring condominium land is collectively owned.
Credit: Myanmar Real Estate
