Myanmar’s moneylenders have a captive customer base of poor households unable to access traditional bank or microfinance services. But a Yangon-based start-up is working on a system to offer small short-term loans that can compete directly with local loan sharks.
Yangon City Development Committee (YCDC) has threatened to take action against those companies who do not cease construction and resubmit their proposals on developments at parkland beside the city’s Inya Lake.
Local real estate agents in the south-west of Yangon are backing a range infrastructure development projects to boost demand for real estate in outskirts of the city, in areas such as Dala, Kawhmu, Kungyangon, Sikkyi Kanaungto and Twante townships.
Yangon City Development Committee sent a formal letter to the developers of the Sule Square commercial complex yesterday, which will allow payment of a K2 billion (US$1.6 million) fine levied for building additional floors without permission.
The Yangon Region government is looking into the possibility of building a seaport in the south of the city as part of a plan drawn up with the help of the Korea International Cooperation Agency (KOICA).
Yangon City Development Committee says it is unable to accept hotel group Shangri-La’s payment of a K2 billion (US$1.6 million) fine levied on the Sule Square project because the committee is still investigating the finished structure.