Property News

Yangon Regional Government is going to rebuild Myanmar Convention Centre located on Mindhama Road, said Chief Minister of Yangon Region. Current venues for international exhibitions and fairs are not ideal due to the lack of facilities, space and the difficulty in transport. The regional government plans to construct halls which are easily accessible via land and water transport. Concerted efforts are being made to build a hall near Nga Moe Yeik creek that can be accessed through the river and on road. On the other side, the Regional Government is exploring the possibility of using old factor plants and transforming them into exhibition venues, with car parks and restaurants, among...

“iGREEN MEGA EXPO” organized by iMyanmarHouse.com, Myanmar’s No.1 Property Website, was successfully held on April 28 and 29 (Sat, Sun) at Novotel Hotel, Yangon. In the expo, the condominiums could be purchased through 15 years installment system by linking with AYA Bank. In the event, 200 plus condominiums valued MMK 80 million up to MMK 4 billion, built by iGreen Development, will be on sales with 5 percent to 20 percent discounted rates and 1 year to 15 years installment systems of AYA Home Loan. iGREEN MEGA EXPO showcased the condominiums of 16 construction projects in 10 townships: Hlaing Township, Sanchaung Township, Kamayut Township, Insein Township, Yankin...

The Yangon Regional Government will sign MoU with the authorized company for the cashless payment system on all Yangon buses, according to the Yangon Regional Government. At present, the final bidder will be chosen from Anypayment Service Company and Asia Starmar Transport Intelligent Company, said Daw Naw Pan Thinzar Myo, Minister of Karen Ethnic Ministry. In 29th December, 2017, the Yangon Regional Government shortlisted three companies to implement the Yangon Payment Services (YPS) cashless payment system on all Yangon buses. Among them, the Excel KC Myanmar Company was selected as the initial tender success company. The Excel KC Myanmar company was canceled from the tender...

The Mingalar Market which suffered a devastating fire would be rebuilt within two years, said U Phyo Min Thein, Chief Minister of Yangon Region.The pledge ceremony to rebuild Mingalar market was held on May 3. “We are going to try all the markets in Yangon to become modern markets with good services. Among these markets, the Mingalar Market will be supervised by the Yangon Regional Government to become a standard market,” U Phyo Min Thein said. The pledge ceremony to rebuild the Mingalar Market was held by San Myat Htun (SMT) Construction Company and U Phyo Min Thein pledged in the Mingalar Market area. The market will be 15-storeys building and cost more than MMK 68...

The Yangon Regional Government submitted 12 urban development projects to be implemented including nine projects worth more than MMK 1,500 billion to the Yangon parliament in May 3. The Yangon Regional Government submitted the “Urban Development Projects’ Reports 2018-21” to the parliament. The submitting projects aims to develop a mega city in accordance with Greater Yangon 2040 Master Plan, said Daw Ni Lar Kyaw, Minister of the Ministry of Transportation said at the parliament. The submitting projects are urban transport infrastructure development projects, housing development projects, industrial sector development projects, economic development projects, all-round...

The numbers of foreign businessmen who subscribe to attend the Yangon Investment Forum come up to increase. The Yangon Investment Forum will be held to boost foreign investments, said U Khin Maung Aye, Chairman of Myanmar Investors Development Association. It is estimated that more than 200 foreign businessmen will attend to the Forum but 300 plus foreign businessmen have subscribed to attend the Forum. Most of them are interested in the Yangon Investment Forum, he said. Myanmar Investors Development Association mainly supports to hold Yangon Investment Forum and is responsible to invite international businessmen. The Association makes the analysis related to the company of those...

The applicants to purchase affordable apartments are ten times higher than the sales units, according to the Department of Urban and Housing Development. The Yangon Regional Government convened to submit the applications to purchase 600 plus affordable apartments in Yangon region which are constructed by the Ministry of Construction. The 682 low-cost and fair-cost apartments will put up for sales in May. At present, more than 6,000 people have submitted applications, said a responsible official from the Department of Urban and Housing Development. The apartments will be allocated to the applicants by lucky draw system through cash-payment as well as installment system. And then,...

A meeting with the representatives from the relevant ministries was held at the Office of the Directorate of Investment and Company Administration (DICA) for fixing priorities of the projects which are going to be implemented along the China-Myanmar Economic Corridor on April 27, 2018. The project will be implemented starting from the China-Myanmar border to Yangon. At the meeting, the relevant ministers negotiated to implement the infrastructure works regarding with the project as priority, said a senior official. “We have already negotiated about the project and we just need to sign the agreement,” he said. China-Myanmar Economic Corridor is one of the One Belt and One...

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....