Thursday, August 25, 2016
The Myanmar Times
The Myanmar Times

Property buyers sacrifice ownership papers to avoid tax

The five-fold increase in property sales tax for this fiscal year, imposed by the previous government, has resulted in a huge rise in tax-dodging, real estate professionals say, perhaps contributing to the market’s current stagnation.

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Yangon high-rise projects under scrutiny

Yangon Region parliament discussed two high-rise projects that will be watched closely by the local government yesterday, with MPs suggesting the developments may be up for review.

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Yangon needs smart urban planning: experts

Smart planning is urgently needed to accommodate millions of people expected to move to Yangon over the next 20 years and to rebalance existing population densities, urban development experts say.

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Wholesale vegetable market on track for 2018

Fruit , vegetable and flower sellers at Yangon’s Danyingone Market, Insein township, are awaiting the country’s first international-standard wholesale centre with a mixture of hope and fear.

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Ministry plans housing for under K10m

The construction ministry has drafted an urgent plan to build 8000 low-cost housing units in Yangon to be sold for less than K10 million each to the city’s low-income residents.

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China to refurbish National Theatre and Thuwunna Stadium

China has again come forward with aid to refurbish two gifts it gave to Myanmar more than 30 years ago – the National Theatre and Thuwunna Stadium, both built in the 1980s. 

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Junction City Phase 1 due for early 2017

Shwe Taung Group yesterday announced that the first phase of its US$300 million project in downtown Yangon, a 23-storey office block called Junction City Tower, is on track to open in the first quarter of 2017.

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High-rise construction stopped for review

The new Yangon Region government is reviewing all high-rise building projects nine floors or higher to determine which will go ahead – even those already under construction.

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