Property News

New Yangon Development Company (NYDC) signed a Framework Agreement with China Communications Construction Company (CCCC) to carry out the necessary surveys and studies to implement Yangon New City project, according to a statement by the Yangon Regional Government. “We expect to strengthen ties between Myanmar and China and to get the public’s support. That’s why, we sign a framework agreement with the China Communications Construction Company (CCCC) to carry out the necessary surveys and studies to set up the project,” said Yangon Chief Minister. CCCC is one of the largest international construction companies in the world, said the Chief Minister of CCCC. The first phase...

The gauge processes for Yangon Railways Station Upgrade Project are being carried out by officials of Myanmar Railways and developer starting on April 26. They gauge railway land and municipal land because it can change each year, said a commander of Yangon Railways Station. The project land area is 25.7 hectares (63.5 acres) and the gauge processes are being carried out by officials in charge of the project, supervisors, and officials of the Yangon City Development Committee and the responsible engineers of the developer company. Meanwhile, the Myanmar Railways is negotiating with the contractors and is to be contract in next two months, said an official of Myanmar Railways....

Only the final agreement of Myanmar and Korea is only needed to develop Nyaung Na Pin industrial zone project. After that, the project could begin to be implemented, said the Yangon Region Government and Korean company. “Korean company is discussing with the Ministry of Construction about Nyaung Na Pin project, after that, the project will be run,” said U Phyo Min Thein, Chief Minister of Yangon Region. The Memorandum of Agreement for the project has been signed by Myanmar and Korea and the project is only needed to sign on the Joint Ventures Agreement (JVA), said communication officer of Korean LHC Company. “We are going to submit the project to the Myanmar Investment...

The industrial zones in Yangon region will be upgraded by the Yangon Region Government, said U Phyo Min Thein, Chief Minister of Yangon Region. “We are going to upgrade the old industrial zones and also try to transfer some factories to the new industrial zones. Thilawa Speical Economic Zone is the most successful zone of three special economic zones in Myanmar,” Yangon Chief Minister said. Most of the foreign investments request to rent factories and workshops in the industrial zones due to the high rental prices of private sector. For this reason, concerted efforts are being made to develop housing projects, new city projects and also to re-establish the industrial zones, he...

Yangon Mingalardon Grand Bazaar which will involve the development of a wholesale and retail market, residential units and office buildings will be developed by Zay Kabar Company and Chinese developer Zhejiang Luding Investment Co., Ltd, according to Zay Kabar Company. The project is to be implemented with the purpose in order to collect a bunch of sellers and buyers in one area and to reduce traffic congestion and space constraints in the downtown areas. The Mingaladon Bazaar will comprise residential buildings, market, office, school, hospital and basic infrastructures and provide consumers with an option to buy everything they need in one area. The project will be...

iMyanmarHouse.com, Myanmar’s No.1 Property Website, is going to organize “iGREEN MEGA EXPO” on April 28 and 29, 2018 (Saturday and Sunday) from 9:00 am to 6:00 pm at Novotel Hotel, Yangon. The customers will be able to buy the condominiums through 15 years installment loan system by linking with AYA Home Loan. The opening ceremony of iGREEN MEGA EXPO will be held at 10:00 am of April 28 and will be opened by U Nay Min Thu, Managing Director of iMyanmarHouse.com, U Kyaw Naing, Marketing Director of iGreen Development and Engineering Group and U Thura Maung, Ratail Banking Director of AYA Home Loan. In the event, 200 plus condominiums valued MMK 80 million up to MMK 4 billion,...

To facilitate the urban transportation road network and river and creek crossing bridges in Yangon, Ministry of construction implemented New Thaketa Bridge construction with the assistance of the Japanese Government. The new bridge will be activated in coming July, according to the Bridge Department under the Ministry of Construction. The new bridge is over Pazundaung Creek to link Mingalar Taungnyunt Township with Dawbon Township side-by-side with the old bridge. It is scheduled to open the new bridge in July but has not yet been determined how the old bridge will be. The project started in 2015 April with the grant aid amounted to Yen 4,216 million through the help of Japan...

Government Employees’ Housing project and New Yangon City project will increase the access of foreign investment to the country’s real estate sector, said U Aung Naing Oo, secretary of the Myanmar Investment Commission. Foreign investment may increase in the real estate sector as the foreigners are allowed in certain ownership in accordance with the new condominium law and the Yangon regional government invites infrastructure-related investments, he said. Within two years, 4,627 units of apartments for civil servants have been implemented by the government and the remaining 7,000 plus units of apartments are going to be constructed in next three years, according to the New...

Most companies from China and Korea are primarily interested to invest in New Yangon City project, said U Phyo Min Thein, Chief Minister of Yangon region at the Yangon Investment Forum 2018. Infrastructure works related to Phase 1 of the New Yangon City Project are expected to amount to a sum in excess of $1.5 billion. The regional government launched the New Yangon Development Company (NYDC) which will develop the New Yangon City Project, on March 31. Firm and rigid project will create job opportunities and other benefits will be obtained through it. It is expected that Yangon New City project will create two million of new jobs and support local businesses and to attrite...

In May, more than 1,000 low-cost apartments will be put up for sale by the Yangon regional government, said U Nyi Nyi, secretary of Public Housing Sale Committee. The committee will determine how the apartments will be allotted to the public at the meeting, he said. The apartments up for sale are Innwa Housing, Kaungsanthar Housing in South Dagon, Yuzana Housing (I,II), Kanaung Houisng in Dagon Seikkan, Kyiepwaryay Housing in Thingangyun, Shwelinban Housing, Hteehlaing Housing in Hlaing Tharyar, Shop Houses in Shwepyithar and Shwepaukkan Housing in North Okkalapa townships. The apartments up for sales have selling prices of MMK 10 million to MMK 60 million depending on their...