Lump Sum Rent a Growing Problem for Tenants

​​ As rents in the commercial capital rise, the longstanding arrangement of paying six months’ or even a year’s rent upfront is increasingly a burden to Yangon’s residential and business tenants. U Soe Win Maung, who lives with his wife in a rented apartment on 40th street in Kyauktada township, said he cannot afford the one-time […]

Developers to challenge results of high-rise review

High-rise developers ordered to drastically change the designs of their projects are planning to challenge the government, on the basis that its review of Yangon developments was not transparent. A high-rise inspection committee was formed last month to review 64 unfinished projects across the city, to ensure they were in line with draft zoning plans. The committee […]

Apartment Projects Dance Around Regulations

Apartment building development has become a major market for the local real estate industry after Myanmar began to open up in 2011. However, construction has been slowing and seeing more disputes between land owners, contractors and buyers due to quality-control and funding problems. Many disputes have arisen from contractors’ failure to complete construction in the […]

Dagon City 1 Dumped by Government under Pressure from Religious, Civic and Social Organizations

The Union Government announced on July 7 that the Dagon City 1 Project in Yangon has been shut down permanently in a bilateral agreement between the government and the luxury property developers. “There were growing concerns among the people, monks, scholars and experts about the dangers of these projects to the Shwedagon Pagoda. The Myanmar […]

K10,000 Notes to Get a Makeover, CBM Move Stokes Inflation Worries

A new series of 10,000 kyat notes will be issued starting July 1, according to an announcement by the Central Bank of Myanmar (CBM). The new notes have been designed to improve quality, raise security standards, and prevent counterfeiting, according to CBM. A new shade of reflective green will be used for the numeral 10,000, […]

Myanmar: Wait continues for specification of new minimum wage

U Myo Aung, Director-General of the Ministry of Labour, Employment and Social Welfare, told Mizzima that it is hard to estimate when the new minimum wage for Myanmar workers will be announced. “We are working hard to get this task completed, as establishing a new minimum wage is highly important,” he said. “Each job [that […]