Monday, August 21, 2017

Lump sum rent a growing problem for tenants

As rents in the commercial capital rise, the longstanding arrangement of paying six months’ or even a year’s rent upfront is increasingly a burden to Yangon’s residential and business tenants.

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Mingalar market design competition opens

A year after fire destroyed Mingalar market – one of Yangon’s largest – a competition to design a new building as begun. But many shopkeepers are impatient and would rather see the market rebuilt as soon as possible.

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Wyndham Hotel Group expanding

Wyndham Hotel Group has opened its first hotel in Myanmar, has another scheduled to open in 2018 and is looking for other opportunities to expand its various brands in the country.

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Kawthaung airport upgrade to bring international tourists

Kawthaung airport in southern Myanmar will be upgraded to accommodate international flights to boost tourism in the Myeik archipelago.

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Tax cut planned for low-cost housing purchases

The government is planning to drastically reduce the taxes it levies when people purchase state-commissioned low-cost housing, which developers say puts many units out of reach for ordinary buyers.

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Sembcorp takes another step on Myingyan project

Singaporean energy firm Sembcorp signed a build-operate-transfer (BOT) agreement with Myanmar’s energy ministry yesterday for the Myingyan power plant, a high profile energy project expected to receive loans from a variety of international lenders.

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Property market health hinges on instalment lending

Unless lenders can help make housing more widely available through instalment plans 10 years or longer the property market will remain weak this year, say Yangon developers, but banks show little sign of being willing to extend their financing schemes.

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MAPCO courts investment for agri-industry park

Myanmar Agribusiness Public Corporation (MAPCO) is building the first of several planned agricultural industrial parks in Ayeyarwady Region aimed at attracting foreign and local investment into agriculture and agri-business.

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