The Myanmar Times
Saturday, 01 August 2015
The Myanmar Times
The Myanmar Times

Condo defaults forecast as the cash runs out

Off  plan sales of condominium units in Yangon have slowed this year, following a three year boom. As a result, some developers are likely to be left without enough money to continue to build and will be forced to default on their projects, which could further hurt market confidence, say experts.

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Confidence missing in Yangon New City

The Yangon Region government has issued a tender for the development of a new town project which would expand the city to the southwest, after parliament reapproved the temporarily-suspended project in June.

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Mandalay myothit charged higher taxes than downtown

The latest property tax assessments for the 2015-16 tax year have revealed that some areas of Mandalay’s myothit (“new town”), are more expensive than prime downtown locations.

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Compensation key for cancelled projects

The President’s surprise cancellation of the five developments near Shwedagon Pagoda on July 7 marked the culmination of a months-long protest movement to end the controversial projects.

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Speculators return to Dala as bridge plans firm up

The price of property and land in Dala has soared again, following government acceptance of a loan from South Korea to build a bridge linking the township to downtown Yangon.

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Asia Bright Land to build Mdy condo

A new condominium project in Mandalay is being planned by Asia Bright Land Development Company. It will be known as Khayae Residence, according to a brochure by Yangon-based creative design company Visible Project.

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Workplace safety in need of update

The scaffolding gave way on June 20 at a Mandalay hotel construction site, killing two workers and injuring another 18 people. Pictures of the incident were shared widely on social media, instigating concern over safety at construction sites.

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Tour companies are travelling down a changing road

Local travel and tour companies have generally kept domestic market share even as the traditional business model of booking agents faces upheaval in much of the rest of the world.

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