Wednesday, July 27, 2016
The Myanmar Times
The Myanmar Times

Real estate slump pulls down Yoma profits

Yoma Strategic recorded its first taste of revenues from its local branches of US fast-food chain KFC in the first quarter of this financial year and enjoyed growth in its automotive and property rental businesses. But a sluggish real estate market left the group’s net profits down on the previous year.

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Yoma eyes 2020 finish for Landmark project

Yoma Strategic expects to have its multi-million dollar Landmark Development project finished in 2020 and will contribute up to US$156 million of the total cost, the firm said yesterday.

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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.

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Yangon high-rise review will cause bankruptcies, developers say

Twelve developers ordered by the government to reduce the scale of their high-rise residential projects in Yangon said yesterday that the review – which includes a total of 185 projects – could cause up to US$6 billion in losses and force many companies out of business.

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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.

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Developers let workers go as high-rise review continues

Two months into a city-wide suspension on high-rise construction, some Yangon developers faced with frozen projects are telling their workers to seek employment elsewhere.

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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.

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Review orders dramatic changes to Yangon high-rises

Yangon authorities have told 12 developers to drastically change their project designs, in the first round of feedback following a drawn-out review of high-rises across the city, according to documents released yesterday, seen by The Myanmar Times.

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