Monday, August 21, 2017

Construction and real estate sectors pin 2017 hopes on new legislation

The construction sector will be glad to see the back of 2016 – a year in which a political transition, a high-rise review and a volatile currency conspired to leave many developers battered and bitter. But there were also signs of a fragile recovery in the real estate market, and new laws set to appear in 2017 could mean both industries are heading for better times.

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Local firm launches module housing

Local firm Treasure Triangle Company has launched a range of pre-fabricated module homes for anyone that wants to option to move house but take their home with them.

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Awba Group pesticide factory operational by April

Myanmar Awba Group has started work on building an IFC-financed agricultural pesticide factory, with phase one of construction scheduled to finish in April next year.

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Construction industry asks for tax cut ahead of Condo law

The Myanmar Construction Entrepreneurs Association (MCEA) has presented a proposal to the authorities which would dramatically lower the tax home buyers pay when purchasing properties governed by the Condominium Law, which is expected to come into force in January.

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Nominations start for Myanmar property awards

The Asia Property Awards (APA) will hold its third annual Myanmar awards ceremony in June next year, with the window now open for people to nominate their favourite hotels, renovation projects and real estate personality.

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Real estate organisations lament being left off Condo law consultation

Yesterday was the final day for the public to submit comments on the draft rules and regulations that will accompany the long-awaited Condominium Law passed in January. But several real estate industry bodies are angry they were not sent a copy of the proposed rules and were therefore unable to make suggestions.

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Banks wary of construction sector risk

Construction and real estate firms are finding it harder and harder to get bank loans, as a downturn in those industries makes lenders cautious on credit risk.

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Yangon govt mulls new “high-class” sidestreet markets

The Yangon Region government is planning a range of measures to make Yangon more livable, including developing the waterfront into public space and moving vendors onto quieter side streets and into planned ‘hawker centres’.

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