Property developers come under pressure as dollar rises

Property contractors are under pressure from rising costs of building materials as a result of the higher dollar-to-kyat exchange rate. Building machinery and materials such as steel bars, which are imported from overseas, have become dearer to local developers and contractors on the back of the appreciating dollar, which yesterday hit a new high of […]

Foreign companies to be invited to build Yangon low-cost housing

Foreign companies will soon be invited through a public tender to build low-cost housing projects in Yangon Region, according to the Ministry of Construction. This will mark the first time foreign contractors are given access to the affordable housing sector in Myanmar. Ministry officials have said they will prioritise building housing for the poor, after […]

Official defends Yangon high-rise review as more results due

A member of the Yangon high-rise inspection committee charged with a city-wide review of high-rise projects has defended the controversial inspections, saying they are a “one off”, as developers brace for the second batch of results to be released tomorrow. Following a two-month blanket suspension on construction at all projects with nine floors or more, the committee released […]

Construction market slumped in 2015 but property prices remain high

More investment companies are coming to Myanmar to answer the demand for luxury housing and office space. But although the sales prices for property remain high, the market cooled considerably in 2015, according to real estate experts. The property market dropped faster in 2015 than it has done in any of the previous five years, […]

YCDC’s list of buildings without permits drops in August

Yangon City Development Committee has counted 2223 buildings without proper permits by the end of August. It had earlier dropped its citations of many improperly built buildings, but is still finding projects that are not made according to its standard, said U Than Htay, head of YCDC’s Department of Engineering (Building). “If we find buildings […]

YCDC promises 45-day wait for licences

Yangon City Development Committee has pledged to lower the wait time for applying for contractor licences from months to weeks, partly as the number of applicants decreases. “We were receiving between 80 to 100 contractor applications for licences every month, but the number is now decreasing,” YCDC deputy head of building department U Nay Win […]