Attempts to launder money continue to bedevil Yangon’s property dealers. Real estate agents have been asked to watch out for attempts to launder money through the property sector and to avoid selling to foreigners or speculators
Myanmar is well behind target on delivering low-cost housing units to the people who need them most, according to developers. While authorities have commissioned several affordable projects in Yangon, the country’s commercial city still faces a housing shortage, said Cyrus Pun, head of real estate at Yoma Strategic Holdings.
Yangon City Development Committee will soon take over management of the last two privately owned industrial zones in Yangon as the Ministry of Construction moves to transfer power to the local authority.