Monday, August 21, 2017

Property exhibition reaches K15 billion from sales  

Real-estate website iMyanmarHouse.com has organised their fifth, and largest, property sales exhibition in the third week of May which could make about K15 billion in property sales. 

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City plan for 10,000 apartments

The Department of Urban and Housing Development will implement a housing project with more than 10,000 apartments in Mandalay this fiscal year. It also obtained permission for this from the Union government and regional government, said U Aung Naing Oo, director of that department on May 22.

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Min Residences to start construction in September

Singapore-listed Oxley Holdings Limited and local firm Mottama Development Group of Companies will be building a high-end multi-purpose complex, Min Residences, which will feature over 600 units at Mayangone township, said Ching Chiat Kwong, chair and CEO of Oxley Holdings Limited.

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80 percent of CHDB loan for construction

State-owned Construction and Housing Development Bank (CHDB) is now offering loans to developers and to people who will invest in the government’s low-cost apartments. However, 80 percent of the bank loans will be only available to developers for construction purposes, said Daw Myint Myint Mu, CHDB director.

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Factory owners being extorted over fake land dispute: Minister

An alleged dispute between people identifying themselves as farmers and factory owners in the Hlaing Tharyar Industrial Zone and the Shwe Lin Pan Industrial Zone, in Yangon Region, has been described as an act of extortion and has nothing to do with a land grab attempt.

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Tender selection for Lanthit Public Housing

The plan to rebuild public housing estates was initiated under the former government and the current administration has carried on the work.

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Bo Ba Htoo affordable housing on sale

The construction of the second phase of Bo Ba Htoo affordable housing project has begun.

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Low property tax revenue despite higher sales

There is a shortfall in revenue collection in the real estate sector despite the fact that all sales in the Mandalay Region are subject to a 10 percent tax on the profit gained from the initial price.

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