doing business in myanmar – what you need to know as a singaporean
With the pace of development increasing in recent years North Dagon has become a unique township, one that’s densely populated without the hassle and noise of the downtown area.
North Dagon is one of the new townships in the Yangon Region, with a number of property development projects slated for the future. Its 26 kilometre-wide zoning permits a number of industrial and commercial activities, alongside residential buildings.
Dagon University, which is Myanmar’s biggest university, was originally situated in North Dagon, before the area was divided into North and East Dagon. The university is now located in East Dagon township.
The Yangon railway line stretches from the university to the central city station, where students from around the city catch the train. There are a number of hostels in the area, mainly to support out-of-town students. Bus lines also service the area, making it easy for students to commute from other parts of Yangon to the university.
It is a township that property investors should consider. As a newly created township, there are many established houses even though apartment construction projects are also on the rise.
For those interested in renting, the most popular places are Pinglong and Pyidaungsu Streets – which are quiet, but still close enough to shops and public transport.
Prices per square foot are around K50,000 in the quieter parts of the township, and K250,000 nearer the main roads.
“Most people want to rent near the main roads, which makes it easier to travel to work. With the number empty blocks in the area, it is more cost-effective to buy the land first and then build a house rather than buying an existing property,” said U Htoo Myat Naing from Estate Myanmar Real Estate.
“Prices for plots of land in the inner parts of the township aren’t that expensive. If you buy a 40 x 60 foot plot of land, the cost is approximately K120 million. Add the construction costs for the house, and it’s around K300 million. An established house, on the other hand, will cost nearly K500 million,” said U Htoo Myat Naing.
With higher living standards and improvements to infrastructure, detached houses are common in this township. Most people are interested in these kinds of houses, said Ma Honey, Business Development Manager of Shweproperty.com.
“If people ask about North Dagon, they are usually interested in detached houses. People feel safe living in them, and they don’t have to worry about noisy neighbours,” she said. “It is a good place for both residents and investors, and has great potential,” she added.
The township is composed of 25 wards, with 27 schools in the area – 24 primary schools, two high schools and one middle school.
East Dagon lies to the east and north of North Dagon, with South Okkalapa in the west and South Dagon in the south.
Residents have the convenience of many cafes and restaurants, as well as 24-hour supermarkets like Capital Hyper Market and City Mart. The Grab & Go’s will also make you feel like you’re living in downtown Yangon, rather than a surrounding suburb.
For those who like to stroll the streets in the evenings, there is a night market near the famous Taw Win Housing Complex. There’s also plenty of restaurants on the main road to stop off at on the way back home.
As North Dagon is also near the airport and bus terminals, it’s an ideal location for traveling in both directions – either towards the city, or to the Aung Mingalar bus station and the city’s outer suburbs. – Translated
Source : Myanmar Times
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