Property News

Sales seem to be advancing well for Yoma’s new mid-range development in Thanlyin township. There are only 10% units left out of Phase one’s 357 apartments, a sales representative told Myanmar Real Estate & Construction Monitor following a recent enquiry. Moreover, foundation work was completed for the eight-storey buildings. The project will include three phases in total, with Phase two sales now launched for 441 units. No further details were given on the timeline or the number of units for Phase three. However, we understand there will be a total of 11 buildings to be finished by 2020. Phase one has three buildings: A1, B1 and B2. Each building has eight storeys. A...

Cooling interest from speculators has led to the recent decline in the high-end residential market, with developers needing to adapt to new market conditions to be successful, MKT Construction CEO and Myanmar Construction Entrepreneurs Association (MCEA) secretary general U Myo Myint told FMR during a recent interview. Locals make a large bulk of the speculative investors in Myanmar, which generates price fluctuations and uncertainty in the real estate market, U Myo Myint said. He added that in the past few years, speculative investors preferred to buy spacious units with the hope of bringing FDI into Myanmar and targeting expatriates residing in Yangon. Speculation often creates a...

Berjaya Land is planning to build over 50,000 affordable housing units to accommodate squatters in Hlaingtharyar township, News Watch reported. The proposed date for the project start is November 2019, on an area of around 200 acres in Yangon’s western township, with no exact details on the location given. “The location has not been confirmed yet, as the permission for the project is still under discussions”, a Yangon region government representative reportedly told the newspaper. The company will collaborate with the region government on a credit loan system payable monthly by the future residents. Current discussions see an agreement at around Ks80,000 ($52) payable...

“Affordable Housing & Suzuki Car Special Sales Event” was successfully organized and held by iMyanmarHouse.com, Myanmar’s No.1 property website, in Suzuki Ye Nadi Showroom in Tharkayta township on 9th & 10th March 2019. In the two days, between MMK 9 million and MMK 27 million valued Suzuki Brand new cars and above MMK 20 million valued affordable apartments in many townships in Yangon were available on bank loan. “Both of apartments and cars can be viewed and purchased in the same place in this event. Apartments in many townships can be purchased at an affordable price and on bank loan. And also Suzuki Ye Nadi Showroom provides to be able to purchase...

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...

The sixth Myanmar’s biggest property expo in Singapore was successfully organized and held by iMyanmarHouse.com, Myanmar’s No.1 property website in The Capitol Kempimski Hotel in Sinapore on 2nd & 3rd (Sat & Sun) March 2019. In the expo, Golden City, Kanbae Towers, Riverfront Garden, The Leaf Residence, SMT Construction, Royal Theikdi Condominium, The Grand Hill Garden Residence, Ayar Chantha Executive Condominium, Grand Wireless Condominium, Shwe Myanmar Mya Minicondo, Real Home Residence and iGREEN Development exhibited their between MMK 20,000,000 and 500,000,000 valued apartments, condos, detached houses and land plots. Totally over MMK 9.3 billion (USD 6 million)...

The Yangon Condominium Management Committee (YCMC) released the fee details to be paid for condo registrations in Yangon region, based on a Facebook update of the Department of Urban and Housing Development (DUHD). The fees for a business licence to develop condominium buildings is Ks10m ($6,600) and the fees for registering condo units in Yangon are as follows: * Ks20,000 ($13) per unit for units that cost up to Ks100m ($66,000) * Ks30,000 ($20) per unit for units that cost Ks100m-Ks300m ($66,000-$200,000) * Ks50,000 ($33) per unit for units that cost more than Ks300m ($200,000) Yangon Condominium Management Committee The YCMC was formed in early 2019 following enactment of the condo...

Nay Ga Bar Construction released a public notification on 23 February as part of its marketing promotions in state-owned Mirror for a completed condominium project registration. The company announced that it has registered the Royal Maung Bamar Residence project as a collectively owned condominium under the recently enacted Condominium Law. Similarly, developer Sae Paing told Myanmar Real Estate & Construction Monitor that it is planning to register its ongoing condo project - Complex 45. Earlier in January, Living Square Construction and Shwe Zabu Deik Construction announced they had registered their ongoing condominium projects, Kabaraye Executive Residence and Pan Swal Taw...

Sales event of Pinewood Villa in Kalaw was successfully hosted by iMyanmarHouse.com, Myanmar’s No.1 Property Website, in Melia Hotel in Yangon on 16th & 17th February 2019. All villa houses in the project were sold out during the two days. Pinewood Villa project is adjacent to Pineland Oasis Hotel from which the beautiful views can be enjoyed in Kalaw and the project includes security gate, coffee shop, garden, and playground. Villa houses have been constructed with the layout including lobby, worship room, bedroom, kitchen, dinning room, store, and balcony. Also car park space, floor covering, kitchen countertop, and water and electricity systems have been...

iMyanmarHouse.com, Myanmar’s No.1 property website, successfully organized and held a detached houses Sales Event for The Grand Hill Garden Residence, located in Kalaw, constructed by Golden Hexagon Group, between 9 am to 5 pm on 15th & 16th December 2018 in Bago Hall in Sule Shangri-La Hotel in Yangon. Golden Hexagon Group developed Lavender Hill Villa, a detached houses project, in Myinn Ye Inn area in Kalaw in earlier 2018 and will deliver the houses to buyers soon. The Grand Hill Garden Residence detached houses project is the second project of Golden Hexagon Group in Kalaw and being developed near Inn Pyin. It is about seven minute far on Pyi Htaung Su road...