doing business in myanmar – what you need to know as a singaporean
The 5th Yangon Property Exhibition, organised by leading property website iMyanmarHouse.com, took place over 19th-21st May 2017. The event brought together over 50 property developers and real estate companies hoping to sell their wares to over 12,000 eager attendees. More than 120 new development projects were showcased at the exhibition, ranging from high-end condos to affordable housing developments.
The exhibition generated considerable sales activity, resulting in purchases amounting to more than $11 million USD in new properties. This was a similar figure to previous exhibitions; sales of over $11 million and $12 million were recorded at the third and fourth exhibitions, respectively.
“We not only organize [these kinds] of property exhibitions but also take on the new development projects exclusively to market and sell on behalf of the developers. Through these efforts, we have already passed $110 million worth of GDV (Gross Development Value) in transaction value for developers.” explained Nay Min Thu, founder and managing director of iMyanmarHouse. iMyanmarHouse has hosted property exhibitions in several other locations, including Mandalay, Taunggyi and Singapore.
Notably, the official banking partner for the exhibition, Yoma Bank, was on hand to provide mortgages with 15-year tenure for property buyers – an exciting sign of progress in Myanmar’s nascent mortgage market.
Source: iMyanmarHouse.com Press Release
