Property News

Do ladies and gentlemen know that there is a 20% discount on buyer taxes for Real Estate buyers? With the aim of flourishing the property market that is completely cool and improving for the country’s economic to a certain extent, Myanmar government has reduced buyer taxes as the followings. From l kyat to 1000 lakhs (3%) From 1001 lakhs of MMK to 3000 lakhs (5%) From 3001 lakhs of MMK to 30000 lakhs (15%) From 30001 Lakhs of MMK and Above (30%) It will come into effect from 1st October to 30 September, 2019. If you have a desire to buy a house before and you don’t want to register it due to tax fees and also don’t want to change names, this is the best time to...

 Daw Nilar Kyaw, Yangon Minister of Electricity, Industry, Transport and Communication has inspected the development of Lanthit public housing estate. She has highlighted special instructions to implement the project quickly according to Ministry of Construction. At the inspections, she was accompanied by Hluttaw representatives of Yangon Region, Deputy Director-General U Myint Naing, responsible persons of Directorate of General Administration, Say Paing Company’s project director and responsible persons and Lanthit housing residents. The housing development project is being developed within the 4.7 acre plot of land located between Bogyoke Aung Sand Road and Anawratha...

Eleven Foreign Investments will create 7329 job opportunities for local people according to Yangon Region Investment Committee. Yangon Region Investment Committee’s meeting (20/2019) was held at the office’s meeting room of Yangon Region Investment Committee at Yankin township’s Sein Lae May lane. The meeting was attended by Yangon Chief Minister U Phyo Min Thein. At the meeting, Yangon Region Investment Committee gave a green light to eleven foreign investments and the investment accounted for US$(17.475) which will create job opportunities for 7329 Myanmar citizens. Written by iMyanmarHouse.com Team Credit: iMyanmarHouse.com  

A Hong Kong-based company will invest $ 500 million for electricity generation from LNG in Yangon and Kyaukphyu cities according to the Directorate of Investment and Company Administration (DICA). The CNTIC Vpower Company will invest US$ 363.070 million in the Ministry of Electricity and Energy-owned Thakata power plant in the generation of 400 MW of electricity with IPP (BOO) system in Yangon region. The Company will also invest US$ 140.470 million in the generation of 150 MW of electricity at the Kanti Field No. (453), Gone Chane village groups, Kyakphyu city in Rakhine region. Hong Kong is the largest investor in the sectors of electricity, real estate and garment industries. It has...

The contract signing ceremony between Myanmar Railways (MR) of Ministry of Transport and Communications and Best Eternity Recycle Pulp and Paper Co.Ltd was held at the meeting room of Myanmar Railways Headquarters. At the event, the leading director of Myanmar Railways and managing director of Best Eternity Recycle Pulp and Paper Co., Ltd. have signed a contract agreement for running trains with container coaches. According to the State-owned newspaper, container trains will provide a shuttle service among Yangon (Thilawa)-Yayni- Yangon (Thilawa) under the bilateral agreement of Myanmar Railways and Best Eternity Recycle Pulp and Paper Co.,Ltd. Written by iMyanmarHouse.com Team Credit:...

The Yangon Region Investment Commission's meeting 19/2019 was held at Yangon Region Investment Committee office in Yangon on 29th November 2019. U Thaung Tun, Chairman of the MIC and (8) members attended the meeting. The meeting approved five projects in the Real estate sector, the Power sector, Livestock & fisheries sector. The amount of investment is USD 503.940 million and Kyats 26,523 million worth projects which are expected to create 1,101 job opportunities for Myanmar citizens. At the end of October 2019, three leading countries who invested were Singapore, the People’s Republic of China, and Thailand. Foreign enterprises in 12 sectors from 50 countries were permitted....

The upgrading project for the Thanlyin-Thilawa Road with the support of JICA ODA loan is to be completed before 2019, said the Ministry Of Construction. The Thanlyin-Thilawa Road is being upgraded under the auspices of JICA ODAl loan. The Tekken Corporation is undertaking as to the main contractor and the Nippon Koei Co., Ltd is operating as the subcontractor. The Thanlyin-Thilawa road is an international standard major roadway that connects with the commercial city, Yangon. The road's length is a five-mile and a four-furlong, with its 46 wide, a four-lane road, the two roadside verges (6.6 feet) wide, the roadside drains and a twenty-six feet box for two sides. Although the Ministry Of...

Unregistered fibre lines which have been installed without permission in Yangon Region will be removed, according to the Engineering Department (Roads and Bridges) of the Yangon City Development Committee (YCDC). We have made an inspection of unregistered fibre cables with registered companies. When we found unregistered lines, we cut them down, said U Lin Khaing, the head of the Engineering Department (Roads and Bridges) of the Yangon City Development Committee (YCDC). We are carrying out a ground inspection of unregistered fibre lines. We have wrapped the inspection up along the Pyay Road, Ahlone street and in downtown townships. The inspection of fibre cables installations has been...

The Japanese government will lend over $ 62 million loans to upgrade the basic telecommunications infrastructures in Yangon, Mandalay, Nay Pyi Daw, and Thilawa special economic zone, the Myanmar Posts And Telecommunications has announced. The project is expected to take up to 2021 and it will boost internet speed more than three times faster than the present capacity. It can also provide assistance to 5 G technology which is prepared to deploy in Myanmar according to the statement. It will be the first official Japanese development assistance loan project for Myanmar's telecommunications sector. Trading house Sojitz Corp and three other Japanese companies will upgrade telecommunications...

The Yangon City Development Committee, the municipal body, has announced that a smart-parking system will be implemented in six downtown townships of Yangon. A tender has called out for this project and a total of 20 local and foreign companies has competed and six companies are selected among them according to the the Engineering Department (Roads & Bridges) Yangon City Development Committee. A smart-parking system will be built in six downtown townships of Yangon. We have already done EOI of the tender process and six companies have submitted a proposal (tender) to undertake the project. We held a meeting yesterday and the tender will be accepted again on November 29.Once the...