Property News

Civil staff housing projects will be built completely by October 2020 under the fiscal year, 2019, according to Department of Urban and Housing Development. Even though the building projects were separated development, there've been a little bit delays in construction progress because some area has been illegally occupied. We will have to build four apartment blocks with this year's budget, said U Min Thein, director general of Department of Urban and Housing Development. The civil staff housing projects are being implemented as 5-storey buildings with four apartment blocks near Yadanar Street in Dagon Seikkan Township, Yangon region, said the Department of Urban and Housing...

 A mild magnitude 4.1 earthquake jolted the country’s commercial city Yangon that has damaged some of the buildings. The earthquake’s epicentre was 13 kilometres from Yangon Region’s Taikkyi Township at a depth of about 10 kilometres. The quake did minimal damage, but the tops of three small stupas at Myanmar’s iconic Shwedagon Pagoda fell down. The quake had caused a high-rise building in Tarmwe Nat Chaung ward's Arthawka street, a building in Myittarnyunt ward's Shwe Wah street, a building at the corner of the Arthawka street and the Satipahtan street in Hmahlwakone Htaykywe (D) ward to lean. It had also caused a RC 4-storey building to lean slightly to the...

 The Ministry of Construction issues a statement that although the upgrade project period for the Bayintnaung Bridge-1 is set for one month, it has not finished and so the maintenance period of the Bayintnaung Bridge-1 has been extended. Although the Bayintnaung Bridge-1 has be closed for one month and the upgrade project is set to initially begin from 5 October to 4 November, it is just 75% complete. Therefore vehicles will be allowed to cross it only at the end of November. It is now replacing the bearings with the new ones on the supports of the Bayintnaung Bridge-1 on Hlaing river which connects Mayangone township to Hlaing township. However replacing bearings and expansion...

The Yangon Region Investment Committee's meeting 19/2019 was held at Yangon Region Investment Committee office in Yangon on 13th November, 2019. At the meeting, the committee had approved seven foreign investment projects according to Myanmar investment law. The meeting was held at the meeting room of Yangon Region Investment Committee's office in the Sain Lae May lane, Yankin township. The meeting was attended by the Chairman of the Yangon Region Investment Committee U Phyo Min Thein, Chief Minister of Yangon Region Government, U Han Htun, Yangon Region minister of agriculture, livestock, forest and energy, Daw Moe Moe Su Kyi, Yangon Region minister of Immigration and Human Resources...

It is learnt that 18 factories shut down in Yangon Region have accepted reinvestment offers . The shuttering of the factories does not mean that they will cease the operations and they are allowed five years tax-free operations in Pegu industrial zone, two years tax-free construction period, few issues between employers and employees and so they were offered to reinvest in Pegu region industrial zone. Forty two factories are operating in the Pegu industrial zone which initiated operations in 2013 and ten factories are under construction. It was known that the plots of foreign industrial zones are fully occupied. Of the 84 plots of local industrial zones, 55 percent are occupied . There...

The competition among firms bidding for Yangon Flyovers was held back till October because the process of negotiating tender terms and rules is not finished, according to U Kyi Zaw Myint, Deputy Director General of Ministry Of Construction. We were also renegotiating the amount of investments, he said. The Ministry Of Construction has announced ten company consortiums as the prequalified bidders. The shortlisted companies include four chinese consortiums, one France consortium, one Korean consortium, one Japanese consortium, one Myanmar-Thai-Japan consortium. The government said that Yangon new flyover projects will be a panacea to the city's traffic woes and they aim to improve...

A year of achievements in the real estate development sector was commemorated on Wednesday evening (23 October) at the 5th PropertyGuru Myanmar Property Awards 2019, presented by global brand Kohler at the Sule Shangri-La, Yangon hotel. New Starlight Construction Co., Ltd. nabbed the ceremony’s highest prize of Best Developer, its Mingalar Mandalay project besting other nominees in all categories it competed in: Best Condo Development and Best Mixed Use Development. “New Starlight Construction Co., Ltd. continues to be one of the most prolific and highly regarded property developers in the country, building resilient mixed-use projects with exquisite facility designs that...

One of Southeast Asia’s frontier markets proves its mettle once more with the announcement today of contenders for the 5th PropertyGuru Myanmar Property Awards 2019, presented by global brand Kohler. A strong and diverse group of finalists, comprising an elite batch of 17 innovative companies, will be recognised front and centre at the highly anticipated black-tie gala dinner at the Sule Shangri-La Hotel in Yangon on Wednesday , 23 October. This year’s edition of Myanmar’s long-running real estate awards series will honour the finest companies, developments and developers in the country as selected by an independent panel of expert judges. Frontrunners for the...

As the Myanmar government makes efforts to complete its ambitious goal to reach the top 100 of the World Bank’s ease-of-doing-business index 2020, the country was listed among the top 20 most-improved countries. A World Bank report listed Myanmar in the top-20 improvers in Doing Business 2020, alongside China, Bangladesh and India. It is also a part of a list based on countries that make it easier to do business in three or more of 10 areas. “Myanmar implemented five initiatives that enhanced its business environment,” the World Bank said. The initiatives include launching an online company registration platform to cut the need for official meetings. It has also made...

Singapore has been ranked as the second safest city in the world by the Economist Intelligence Unit’s (EIU) Safe Cities Index on 29th August. Tokyo holds the title as the safest city for the third straight time while Osaka ranked third. Six Asia Pacific (APAC) cities placed in the top ten, including Melbourne (10th), Seoul (8th) and Sydney (5th), reported Singapore Business Review. The ranking means Singapore received perfect scores for their continuity management plans, institutional capacity, disaster-risk informed development and pedestrian friendliness. It also indicates that the city-state possesses strong personal security inputs characterised by policing that has high-levels...