The Myanmar Investment Commission has given Marga Landmark approval to build its mixed-use project on a new site, after the president called off the Hong Kong-based developer’s project last year, deeming the initial location too close to Shwedagon Pagoda.
The Myanmar Investment Commission has accused a local developer of building a condominium in Yangon with a foreign partner without approval, while the developer says it does not need approval as the investment is entirely local.
The new condominium law – which will grant international buyers access to Myanmar’s real estate market for the first time – has been widely welcomed, but experts say just a handful of properties are initially likely to be eligible.
The US$25 million Mandalay Convention Center (MCC) will be finished by the end of June, and officials hope to hold a grand opening that month.
The Kayin State government has given a little-known company permission to build a major low-cost housing project near Hpa-an, after more than a year of due diligence.