Property News

Mya Kyun Thar Housings Expo organized by iMyanmarHouse.com, Myanmar’s No.1 Property Website was successfully held on March 17 and 18, 2018 at the AMPS Construction Office, Yankin Township and Mya Kyun Thar Housing Campus simultaneously. In the expo, the apartments and single houses of Mya Kyun Thar Housings project are sold through the special discounted prices. “We, iMyanmarHouse.com hosted the Mya Kyun Thar Housings Expo both in Yangon and Pathein simultaneously. The project comprises various sizes of plots with fair prices and is located in business environment. So, most of the buyers are the businessmen in Pathein and nearby places and the parents of the students in Pathein...

The 39 domestic and foreign companies including Chinese companies, Japanese companies and Korean companies bought Expression of Interest (EoI) application forms to invest in New Mandalay Resort City (Yadanarpon Cyber City) project, according to the statistics released by the Department of Urban and Housing Development, Mandalay Region. “We will know whether all these companies actually submit EoI or not at the tender selection time. The tenders will be selected by the Tender Selection Committee under the Union Ministry,” said U Thet Naing, Director of the Department of Urban and Housing Development, Mandalay Region. Tender Selection Committee comprises respective regional...

The high-rise building project earmarked for construction in the Mya Yeik Nyo Royal Hotel compound is being objected by the neighboring residents. Near the project, there are water pumping station and the reservoir which supply water to nine townships in Yangon. In addition, since the project is located on Yangon’s one of the highest point. The local residents are concerned of the potential damage to the water pumping station and the reservoir. In addition, they are concerned about the obstruction of the view of Shwedagon Pagoda due to the high-rise buildings of the project. Zay Kabar Company has received approval from the Yangon Regional Government to build the buildings...

The housing units sales from the Peninsula Residences Yangon will be started, according to a release from the Yangon-listed First Myanmar Investment Company Limited (FMI) on March 26. The project is a part of the $ 700 million Yoma Central mixed development project. The Peninsula Residences Yangon will include 96 residential units. The Peninsula Residneces Yangon is being built on 10 acres site in downtown Yangon at the junction of Sule Pagoda Road and Bogyoke Aung San Road and is expected to be complete in 2021. Two Grade A towers housing offices and a commercial hotel will also be built together with a retail complex. Yoma Strategic Holdings together with its partners, First...

The nationwide housings development project is designed to be implemented in five years. At present, only one month is remained to run out of one year of the project time, according to the Ministry of Construction. Within one year, the affordable housing projects have been implemented in Naypyidaw, Yangon, Monywa, Magwe and Pathein, said a responsible official of the Ministry of Construction. It is earmarked to build total 10,212 apartments including 80 apartments in Nawpyidaw, 8712 apartments in Yangon, 440 apartments in Monywa, 304 rooms in Magwe and 676 apartments in Pathein. At present, 70 percent of the earmarked amount has been completed, he said. In the period of the new...

Hanthawady International Airport Project is a must by the Government for the future development of aviation sector. Therefore, the negotiations are being made by the Japan Government and relevant ministers to continue to implement the project, according to the Ministry of Transport and Communications. It was expected to sign a contract with JGC Consortium (HIA Myanmar Company Limited), to obtain ODA loan from Japan and to start the project in 2018 but the framework agreement between the Department of Civil Aviation and the consortium had expired on January 30, 2018 before certain issues remain unresolved. Both the Department of Civil Aviation and the consortium have not submitted a...

The infrastructure sector is necessary to develop in 2018, said U Phyo Min Thein, Chief Minister of Yangon Region. In 2018, the Yangon Myothit Project and Special Economic Zones are going to be implemented. In addition, efforts are being made to implement a Smart City to be developed on the other side of Yangon River, Chief Minister said at the Myanmar Infrastructure Summit 2018 ceremony. Moreover, many projects with a cost of around US$ 5 billion are still left to be implemented, he added. The projects will be implemented as the urban development projects. As a result, it will create many investment opportunities to the transport sector and real estate sector, said Chief...

The homes and buildings in the Yangon-Dala Bridge project area have been removed in the first week of March and the project will be started in May, according to the MP for Dala Township constituency. The land compensations have been provided to the owners of building, land and shops in the project area. Although they are notified to remove from the project area on January 31, the period is extended due to the matriculation exam. “All the plots and shops in project area have been removed. The Dala project will drive in a stake in May then the project will be started to be implemented,” he said. The implementation processes will be started in May. Yangon-Dala Bridge is a...

1. Strand Hotel The Strand Hotel in Yangon’s Downtown and Governor’s Residence on Tawwin Road comprise ancient building sites, handiworks and the best works of renovation. In addition, they are still providing the best hotel services. At the present, the Strand Hotel is being operated by the Globel GHM Luxury Hotels business which opens several hotels in Miami, Bali and Vietnam. 2. Belmond Governor’s Residence The Belmond Governor’s Residence is located near Leafy Garden. It is an old building at which the ancient Myanmar’s Kings have lived and the beauty of the Belmond Governor’s Residence is different from any other best luxury hotels in Myanmar. The rooms are...

The Amyotha Hluttaw formed a construction, industry, electricity and energy affairs committee on Wednesday for the development of construction sector and to ensure adequate distribution of electricity to the whole country. The committee comprises 15 MPs and was formed at the Amyotha Hluttaw meeting held on Wednesday. The committee is chaired by U Saw Moe Myint, MP for Karen State constituency 1 and U Mya Min Swe, MP for Magwe Region constituency 9 is the secretary of the committee. “The construction sector has an issue with build-operate-transfer (BOT) projects. In addition, we have to upgrade the roads in accordance with the international standard,” said U Saw Moe Myint,...