The Current Situation and Future Trend of BUILDING CONSTRUCTION and HOUSING SECTOR in Myanmar
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1 The Republic of the Union of Myanmar Ministry of Construction The Current Situation and Future Trend of BUILDING CONSTRUCTION and HOUSING SECTOR in Myanmar U KHIN MG THEIN Chief Engineer (Buildings) Public Works, Ministry of Construction Myanmar March The Republic of the Union of Myanmar Ministry of Construction GOALS Building Sector To achieve safe and quality built environment in Myanmar Housing Sector To upgrade living standards and provide adequate housing for all the citizens 2
2 The Republic of the Union of Myanmar Ministry of Construction BUILDING CONSTRUCTION IN MYANMAR CLASSIFICATION OF BUILDINGS 1. Assembly 2. Business 3. Educational 4. Factory and Industrial 5. Hazardous 6. Institutional 7. Mercantile 8. Residential 9. Storage 10.Utility and Miscellaneous Ref: 2012 MYANMAR NATIONAL BUILDING CODE (Provisional) Most of the Large Scale Buildings had previously been constructed by the public sector, mainly by the Public Works. 3 The Republic of the Union of Myanmar Ministry of Construction BUILDING CONSTRUCTION IN MYANMAR Public Works Department of Human Settlement and Housing Bridge Building Airfield 4
3 BUILDING CONSTRUCTION IN MYANMAR Some Buildings Constructed by the Public Works Before 2011 Construction and Maintenance of Large Scale and National Level Buildings 5 BUILDING CONSTRUCTION IN MYANMAR Undertaking Building Construction Architectural, Structural, Water and Sanitation and Electrical Drawings as well as Construction carried out by the Public Works. Architectural, Structural, Water and Sanitation and Electrical Drawings prepared and issued by Public Works, however Construction Tendering and Management undertaken by relevant Ministries. Design Coordination, Construction Management and Quality Control undertaken by the Public Works Regulating Building Construction Professional Regulatory Authority for Engineering Professional Regulatory Authority for Architecture Myanmar Engineering Council Law passed Myanmar Architect Council Law in drafting and approval stage Provisional Myanmar Building Codes issued Updating Analysis of Rates After 2011 Undertaking and Regulating Building Construction 6
4 BUILDING CONSTRUCTION IN MYANMAR Envisaged Future Role in Building Construction Cost verification and approval of buildings to be constructed with the Government Budget Setting, Controlling and Approving Internationally acceptable Standards and Specifications for Buildings to be constructed with Local and Foreign Investment Preparing and Issuing Architectural, Structural, Water and Sanitation and Electrical Drawings and Quality Control in construction of the projects when assigned by the Government Need for Construction Industry Law Designated Building Construction Authority 7 BUILDING CONSTRUCTION IN MYANMAR Setting Standards and Regulating Design Stage - Setting and Regulating Building Standards and Specifications - Setting Standards and Regulating Building Materials - Setting Standards and Regulating Human Resources Construction Stage - Setting Standard Procedures and Regulating Building Construction - Setting Standards and Regulating Safety Measures in Building Construction - Setting Standards and Regulating Human Resources 8
5 BUILDING CONSTRUCTION IN MYANMAR Pioneering Modern Technologies Technologies for Mass Production - From Cast in situ construction method to prefabricating ( precast or factory production) - Other Mass Production Technologies Upgrade to high technology - Precast - Prestressed - Postension - etc. Needs - Quality Building Material Provision - Technical Knowhow - Capacity Building of Human Resources 9 BUILDING CONSTRUCTION IN MYANMAR Key Challenges in Building Construction Expected boom in building construction due to opening up of the economy Lack of competent regulations and quality control of building design and construction Lack of legal system in construction industry Lack of Designated Building Control Authority Need to upgrade Building Technology 10
6 The Republic of the Union of Myanmar Ministry of Construction HOUSING SECTOR IN MYANMAR Public Works Department of Human Settlement and Housing 11 HOUSING SECTOR IN MYANMAR HOUSING PROVISION IN MYANMAR High Income Middle income Low Income Upper-middle and high income households live in housing built by themselves or built by the private sector Middle income households often occupy formal, but low quality housing Low-income households live in slums and squatter settlements, or in low-cost rental housing; the informal sector is the main provider 12
7 Shelter/Space Local needs HOUSING SECTOR IN MYANMAR Post-Independence Public Housing Social needs 1951 NHB Act Satellite Town Satellite Towns, Industrial zones & Housing Traditional Colonization & Urbanization Pre-Independent Housing Department DHSHD (1972) (1990) Private Sector Market Participation in Orientation & Housing Delivery PPP in Housing Lack of Housing Policy for Low income people and Rural Housing Un-sustainable Provision and Delivery System in Public Housing Lack of integrated Land use and Transport Planning 13 HOUSING SECTOR IN MYANMAR Key Challenges in Housing Expected growth of population from around 60 million to around 90 million by the year 2040 The housing market is expected to grow continuously in the near future. Increase in housing demand due to increase in per capita income and saving capacity due to the national development projects and changing political and economic situation; increase of foreign investment in industrial and service sectors as well as agricultural mechanization resulting in more urbanization. 14
8 Myanmar Urbanization Myanmar Center of interest for the international investor National Population growth rate=1.3% Urban population growth rate= 2.9% Rural urban ratio= 68: 32 Size of Main Cities Yangon= 5.9 million Mandalay= 1.5 million Naypyitaw= 0.9 million 27 Cities= over 0.1 million (Urban Poverty rate = 22%) Source: UNHabitat, CSO. HOUSING SECTOR IN MYANMAR Key Challenges in Housing With around 12 million households in Myanmar, calculated at household size of 4.7, an annual demand for housing is around 300,000 units. of sustainable housing financing system; Resource development in modern building materials, construction technologies, machineries, equipment and promotion of construction industry for mass production of housing. 16
9 Programmes: Housing Policy Housing Strategy 4: of adequate and affordabel housing delivery systems (1) Developing and carrying out adequate and affordable housing delivery schemes in cooperation with region and state governments; (2) Promotion of modern building materials and mass production construction technologies for housing delivery; (3) Cooperation with region and state governments in allocation of reserved project land for public housing and staff housing to be implemented in future in line with the National Housing Policy; 17 Housing Strategy 4: of adequate and affordabel housing delivery systems Programmes (contd.): (4) Carrying out pilot housing projects allowing low income groups ownership of housing through housing loans and cross subsidy systems; (5) Carrying out estate redevelopment schemes of over aged public housing and staff housing estates through public private partnership system (PPP) to be implemented in cooperation with region and state governments; (6) Systematic production of affordable housing units by various sectors such as government organizations, cooperatives, public and private sectors within to budget years; 18
10 Housing Policy GOALS AND STRATEGIES OF BUILDING AND HOUSING SECTOR IN MYANMAR To provide affordable housing for middle and low-income groups throughout the country. To establish housing finance mechanism to promote affordability and house ownership To upgrade for the living people. standards and provide adequate housing for all the citizens. To promote construction industry development and mass production techniques minimizing construction cost and time. Cooperation with regional governments in implementing large scale public housing and low cost housing projects through urban development approach. To draft required laws and regulations ensuring provision of safe and adequate shelter. Building Codes Condominium Act Spatial Planning Law Housing Law 19 Housing Demand and Supply In Yangon, 36,000 Housing Units have been built from 2005 to 2010 for 5 years and, average 7,200 units of housing were produced annually. The demand for housing is 3.5 times of provision during last decade while average increased households per year is about 26,000 to 30,000. > 70% of Residential units are produced by the private sector and much more profit orienting and targeting on high income group. Mandate on Housing Policy and Housing Provision (social as well as market demand) is essential for balanced and sustainable growth of socio-economic development
11 Housing Provision by Public Sector 30% of City population is living in slum and squatter which is needed for improvement of living standard as well as proper housing solution Most important gap is very high cost for housing and people s affordability of very low income level Government sets the priority focus on affordable and low cost housing provision Housing Mortgage and Financing Mechanism is now established and planning to be practice Promotion of Construction Industry and its development and establishment of Myanmar CIDB for quality building Enactment of Legal framework for Building and Property market development MAIN PROVIDER - DHSHD S Housing Delivery. Excess housing demand induce housing price increase. Total Unit -53,816 no. ( ) Targeting on Low-Middle income group Targeted Production Affordable Housing 20,000 Low Cost Housing 3000 Urban Redevelopment Housing 9000
12 Affordable and Rental Housing Scheme 20 years Long-term Plan in Housing Sector ( ) - one million housing scheme ,000 Housing Scheme Location Target Group Delivery Financing Investment Planning - Regions/State s capital cities & secondary towns - Priority for government servants and low-income people - income level & status accordingly - Housing Mortgage Loan for 20 years - Housing Financing System ( Bank, Finance Institution) - Government Budget/ Revolving Fund/ PPP & Loans, grant Township with neighborhood concept Infrastructure - water, sanitation, electricity supply, waste management, road & drainage Operation & Management DHSHD + ward council + community 23 Rental Housing Scheme in Regions and States Government Rental Housing for Government Servants Capital cities units /years (average) Government Budget Housing Estate Redevelopment Scheme Old Housing Estates (DHSHD) 10 Housing Estates in Yangon (450 acres) 3 Housing Estates in Mandalay 29 Housing Estates in Other Cities Redevelopment Program through PPP Proposed redevelopment project at Botataung Housing in CBD Proposed redevelopment project at Shwegon Housing 24
13 Proposed Yangon City Urban Plan. DHSHD. MOC Yangon City Concept Plan (2040) YANGON CITY ECONOMIC HUB & DEVELOPMENT POLE Area sq-km Population (2010) million Population (2040) million Growth Rate % (2010) Housing Plan (2040) Designate Promotion Area in Smaller Urban centers around Yangon Urban Densification Area through Upgrading Existing Estate Redevelopment Area Source: DHSHD.MOC Housing Estate Redevelopment Scheme Public Rental Housing Estates 10 Housing Estates in Yangon (450 acres) 3 Housing Estates in Mandalay 29 Housing Estates in Other Cities U Wizara, Dagon 51th Street, Botataung Pyinmapin, Mingaladon Gyogone, Insein Pyitawthit, Pazuntaung Yankin Shwegondine, Bahan Kantawkalay, Mingalataungnyunt Wayluwun, Sanchaung Thuwuna Redevelopment with the participation of private sector. Mixed development for residential and commercial to utilize scarce and valuable land effectively , 10,000 housing units are planned to produce.
14 HOUSING PROJECT IMPLEMENTING AND PLANNING by DHSHD & YCDC THROUGH PPP( ) PLANNED HOUSING PROVISION OF DHSHD Type of Housing Project (no) Unit(no) Low Cost Housing Affordable Housing PPP Project (DHSHD) Type of Housing Estate Redevelopment (PPP) Other (PPP) Project (no) 2 30 Unit(no) Total Location Shwe Lin Pan, Hlaing Tharyar Mingalardone, DagonSeikkan Dagon East Pilot Project(19600)- Dagon Seikkan Hlaing tharyar, Dagon South Shwe Pyi Thar Location Link Road Botahtaunghousing COMMERCIAL sq ft sq ft Mingalartaungnyunt BotahtaungTimesquare Hletan, Thanlyin,others, CBD HOUSING PROJECT DEVELOPED BY YCDC ( ) 50,000 Housing Units Production Rental Estate Housing Redevelopment Scheme in Regions and States Scheme. DHSHD EXISTING HOUSING ESTATE (1956) Resettlement for existing rental units of condominium and Commercial PPP project with Local Developer Botataung Housing Redevelopment Project in 51 ST Street CBD High Restriction and Control Zone Near Shwe Dago Pagoda Existing Rental Housing Unit -40 no. New Unit -100 no. Estate Redevelopment Project at Link Road, Shwegon Housing
15 Ayeyarwun and Yadanar Housing Project 1. Area 2. Parcels 220 Acres (89.03 Ha.) 11 Nos. 3. Buildings 49 Nos. 4. Floors 18 Storeys 5. Units/Bldg 400 Nos. 6. Total Units Nos. 7. Unit Area 8. HH size 9. Population 600 sft 4.5 p /hh p. School Sports Ground and Recreation Places Market and Commercial Bus Terminal with Commercial Shops Car Parking Clinic, Police Station, Fire Station etc. Physical Infra Waste water Treatment 29 Satetara Mahi Estate Redevelopment Project, Mandalay (1) 4U 8S Apartment Building - ( 5 ) nos (2) 4U 9S Condominium Buildin - ( 6 ) nos (3) 1U 4S Showroom& Office (4) 3 Storeyed Admin Building - ( 1 ) nos - ( 5 ) nos Total 417 housing and Shophouse units Total Floor Area sq.ft
16 CURRENT SITUATION PRIVATE SECTOR Driving Demand for Quality Under Supply on appropriate Residential and Commercial property market Shortage in High Quality (quality offices, apartments, hotels, and retail spaces are all in short supply) Undergoing rapid transformation, including inflow of international investment Significant demand for Land and quality space in Yangon Developers are focus on high-end projects in Yangon Flight for changes of Quality in the Real Estate Market Need for enactment of Legal framework development for property market LIST OF HIGH RISE BUILDING SUBMITTED TO CQHP( ) SOURCE:COMMITTEE FOR QUALITY CONTROL OF HIGH RISE BUILDING CONSTRUCTION PROJECTS No Project Storey company Location 1 Pyay Garden Office Tower 1+11 Ze Ga Bar Sanchaung 2 United Tower United Construction Bo Ta Htaung 3 AMBO Tower (Bo Aung Kyaw) 12 Naing Group Kyauktada 4 U Myint Thein+1 10 Yadanar Myaing Latha 5 Diamond Tower 12 Yadanar Myaing Pabedan 6 Lucky Condominium 12 Naing Group Bogyoke Street 7 M.T.P Kamaryut Tower 11 MTP Constriction Kamayut 8 Aye Yeik Thar Condominium 1+10 Tet Lann Construction Bahan 9 City Shine Tower 12 City Shine Construstion Kyauktada 10 Classic Stand Condominium B+12 Naing Group Pabedan 11 United Tower United Construction Bo Ta Htaung 12 Bo Soo Pat Building 12 Yadanar Myaing Pabedan 13 Pansodan Business Tower 12 1/2 Naing Group Kyauktada 14 Hnin Si Gone Condominium 12 1/2 Naing Group Alone 15 Shine Tower 12 Shine Min Ga Lar Taung Nyunt 16 Kyaw City Tower 12 1/2 Kyaw City Kyauktada 17 Kyaw Condominium 12 1/2 Motherland Kyauktada 18 Myanmar Shweoudaungmin 12 1/2 Myanmar Shweoudaungmin Pabedan 19 Hotel Shwe Gone Daing /2 December Shwe Gone Dine 20 Strand Condominium 12 1/2 Golden Flower Latha 21 United Vision Tower 12 Shwe Mee Thee Shwe Bone Thar 22 Green Lake Condominium 2+12+P Yadanar Myaing Min Ga Lar Taung Nyunt 23 3rd Street Condominium 12 1/2 Naing Group Lamadaw 24 Lanmadaw Tower 12 1/2 Myanmar Top Power Latha 25 United Tower United Construction Bo Ta Htaung 26 MEI Business Tower 12 1/2 Fatherland Kyauktada 27 Uniteam Project 12 Lay Thi Sanchaung 28 Anna War Min Tower 2 12 Anna War Min Latha 29 Ngwe Gant Gaw(Lanmadaw Tower) 30 19th street Project 12 1/2 Shwe Naing Ngan Latha Tet Lann Construction Kan nar street 31 30th street Project 12 Naing Group Shwe Bone Thar 32 Hman Cho 12 1/2 Naing Group Pabedan 33 Mandalay Street & Bo Min B+12 1/2 Naing Group Min Ga Lar Taung Young St Project Nyunt {B(2)+17}And Myint& Associate 34 M & A Office Tower {B(2)+7} Company Kamayut 35 KBZ Residence 11 1/2 Majestics Kamayut Corner of Shwe Bone Thar& Anawyahtar St Khon Zay Tan Tower 12 1/2 12 1/2 Naing Group Arkar Kyaw Family Group 38 Shine Business Tower B(2)+12 Shine 39 Pacific Hotel B+12 Yadanar Myaing 40 Soe San Tower 12 ½ Soe San 41 Star City No.227/229,Seik Kan Thar Street Shwe Gone Daing Hotel(2). Bahan Than Lyin Estate Corner of Shwe Bone Thar& Anawyahtar St Con Zay Dan St Min Ga Lar Taung Nyunt Min Ga Lar Taung Nyunt Bo Ta hatung Near Thanlyin Bridge 12 1/2 MTM Kyauktada B(2)+21 December Bahan 44 Hill Top Condominium 16 Shwe Taung Alone Stories Building 12 1/2 Motherland Kyauktada 46 Orchid Condominium B(2)+22 Taw Win Alone 47 DEC Tower (A) 27 MGW Bahan 48 PME Tower B+12+Open Shed Peace Myanmar Electric Alone 49 30th street B+12+P Naing Group Pabedan 50 Sedona Extension B+30 Straits Green Field Yankin 51 Twin Centro Condo 15+Mezzanine Shwe Taung Floor Sanchaung 51 DEC Tower (A) 27 MGW Bahan 52 B(2)+18 M & A Kamayut B(2)+18
17 LIST OF HIGHRISE BUILDING SUBMITTED TO CQHP( ) SOURCE:COMITTEE FOR QUALITY CONTROL OF HIGH RISE BUILDING CONSTRUCTION PROJECTS 53 Kanbawza Tower(KBZ ) B(3)+16 1/2 Naing Group Sanchaung 54 Diamond Inya Palace R.C.C (35) 55 Traders Square B(2) Malikha Condominium R.C.C (12 1/2) Mandalay Golden Wing Mandalay Golden Wing Shwe Taung Ma Yan Gone Kyauktada Thingankyaun 57 DB Housing B+12 1/2 Shine Pabedan 58 Hotel Alinker(Jasmine) B+21 Shine Sanchaung 59 Yangon Garden Hotel B(2)+12 Family Business Group Tarmwe 60 Garden Park Hotel B(2)+27 - Mandalay 61 Ruby Hotel-1 Penthouse R.C.C+21 Capital Hlaing 62 Diamond Valley Rise 27 Aye'sFamily Bahan 63 AMC Tower B(3)+27,S.C Asia Metal Kamayut Shwe Taung Bogyoke Market & 64 Junction City - lay har pyin 65 Crown Condo B(2)+16,R.C.C Crown Advanced Alone 66 HAGL 27 Hoang Anh Gia Lai Myanmar Set Mhu 1 67 East Race Course(ERC) B(3)+20,R.C.C Naing Group Tarmwe 68 Atrium Hotel B(2)+(13 1/2 ) Yadanar Myaing Corner of Pansodan Upper &Bo Min Gaung road 69 Asia World Tower B(2)+32 Asia World Lamadaw 70 Junction Square 19+Basement, Shwe Taung 22+Basement Kamayut 71 Paragon Residence 27 Resources Group Alone 72 Yankin, Sayansan 22 Mandalay Golden Wing Yankin 73 Ruby -2 and Ruby Capital Hlaing 74 Naing Office Tower(2) B(2)+12,R.C.C Naing Group Sule 75 9 Hotel B(2) Dragon Empire Const;(DEC- Tower B) 21 U Tin Win (Owner) Mandalay Golden Wing 77 Kantharyar Consortium B(2)+27 Asia Myanmar Alone Bahan Min Ga Lar Taung Nyunt 78 KER, Kabaraye Excecutive Residence B(3)+29 Ever Seiko Ma Yan Gone 79 Time City B(3)+23 Crown Advanced Kamayut 80 Five Star Hotel B(2)+24 Hoang Anh Gia Lai Myanmar Set Mhu 1 81 Daw Khin Khin (Owner) B+14 Aye Yeik Mon Alone ,Pyay Road Project 16 Myanmar Seilone Sanchaung 83 KBZ Tower-Revised B(3)+16 1/2 Naing Group Sanchaung 84 Naing Office Tower(1) B(2)+12,R.C.C Naing Group Sule 85 Shangri La Hotel 4-Storey Podium +21 Shangri La Yangon Min Ga Lar Taung Nyunt 86 Merchant Suite B+19 Naing Group Capital Bo Ta Htaung 87 Hill Top Vista B Chatrium Hotel 13 Shwe Taung Chatrium Hotel Royal Lake yangon Alone Tarmwe 89 Condominium 18 Ta Kaung Bwar Hlaing 90 Golden City R{33x9}buildings O+S{30x1}buildings H{4x1}Buildings 91 U Kyi Soe B(3)+28 Residential - 15 no. Condominium - 32 no. Hotel - 14 no. R+Office Tower - 30 no. Golden Land Real Estate Pinya Manufacturing Myanmar & Myanmar Mayson Industries Yankin Bahan High rise Bldg. 20 storeyed and above (53) nos. 30 storeyed and above (15)nos. Location Map of Residential and Commercial Building, Yangon City Inner City Area High rise Bldg. 20 storeyed and above (53) no. 30 storeyed and above (15)no INNER URBAN AREA Sanchaung Ahlone, KyiMyinDine Kamayut Tamwe Yankin Mingala Taung Nunt Bahan Mayangone List of High Rise Building Submitted to the High-Rise Control and Monitoring Committee of YCDC Residential Commercial Hotel Building List Approveded by Committee /2 storeyed storeyed Building List on Going for Submitting to Committee /2 storeyed storeyed Building List, Change design for Resubmitting to /2 storeyed 17-1 Committee storeyed Building List, To Reduce Levels Directed By /2 storeyed Committee storeyed Building List, To Inspect From Committee /2 storeyed storeyed 8-2 Total
18 Number of buildings permitted by Building Department from 2011 to 2013 (YCDC) no. of Building Units No. of Building (up to 8 storeyed) Issued for Permission (YCDC) (2014-3months) Housing Unit for 1 st 3 months in Yangon units Estimated Yearly Production units (apprx) (2014) (Private Sector) Old Satellite Town and old suburban area are the most significant in housing Activities Source: Jan(2014) Building Department Feb(2014), March(2014) YCDC th no of no of building Units building (6-8 ) Mon <6 storeyed storeyed Total Building Total Units Units Total Total Units Building Jan(2014) Feb(2014 ) March(20 14) Total Mayangone South Okkalapa Thingangyun Thaketa MYANMAR CITIZENS INVESTMENT BY SECTOR AS OF (28/2/2014) Sr. No. Particulars No. US$ Total Permitted Enterprises Total (Kyat) 1 Construction Power Manufacturing * Others Real Estate Transport Liverstock & Fisheries * Mining Hotel and Tourism Industrial Estate Agriculture Total Foreign Investment of Existing Enterprises as of (28/2/2014)(BY SECTOR) Existing Enterprises Sr. Particulars Approved No. No. of Percentage( Amount (US$ in Enterprises %) million) 1 Power Oil and Gas Manufacturing Mining Hotel and Tourism Real Estate Transport & Communication Livestock & Fisheries Agriculture Industrial Estate Other Services Construction Total % FDI IN REAL ESTATE SECTOR MYANMAR CITIZENS INVESTMENT BY SECTOR AS OF (28/2/2014) Foreign Investment in real estate Mar2011,Aug2013,Feb Mar(2011) August(2013) February(2014) Power Hotels & Tourism Manufac Mining Hotel Real Transpor Livestoc Other real Estate FOREIGN INVESTIMENT OF EXISTING ENTERPRISES AS OF (28/2/2014) (BY SECTOR) Agricult Industria Other Construc No. US$ No. of Enterprises
19 The Republic of the Union of Myanmar Ministry of Construction LAWS RELEVANT TO INVESTMENT IN BUILDING AND HOUSING DEVELOPMENT THE FOREIGN INVESTMENT LAW (THE PYIDAUNGSU HLUTTAW LAW NO 21/2012) 2 nd November, 2012 MYANMAR INVESTMENT COMMISSION NOTIFICATION NO. 1/2013 Nay Pyi Taw (31 st January, 2013) Classification of Types of Economic Activities List of Economic Activities under Prohibition List of Economic Activities to be allowed only in the form of Joint Venture with Myanmar Citizens 37 The Republic of the Union of Myanmar Ministry of Construction MYANMAR INVESTMENT COMMISSION NOTIFICATION NO. 1/2013 Nay Pyi Taw (31 st January, 2013) With the Recommendation of the Ministry of Construction Establishment of international standard golf courses and resorts Establishment, sales and lease of residential apartments / condominiums Construction and sales of office / commercial buildings Establishment, sales and lease of residential apartments in residential areas connected to industrial zones Establishment of affordable housing List of Economic Activities Permitted with the recommendation of the Ministry of Construction Construction / renovation and lease of office / commercial buildings 38
20 Principals Share Contribution- Local partner contributes land use right as equity FDI contributes construction cost, technology and marketing Projects can be proposed to Myanmar Investment Commission together with EIA/SIA through the process of negotiation. Joint Venture Company will be formed after receiving investment permit of Myanmar Investment Commission. Profit distribution : Dividend will be distributed as per share ratio. Investment Procedures for Foreign Developer in Myanmar Land availability need to confirm first. Promoter has to submit comprehensive proposal together with Attorney General Office s comment through DHSHD and Ministry of Construction according to the Foreign Investment Law Investment Proposal Appraisal Team Myanmar Investment Commission (Permit Issued) Signing JV agreement / BOT contract and Lease agreement and commence the business.
21 Future challenges and opportunities To provide quality building and services for consumers who has different affordability and taste is become crucial. Reliability of developers for their planning, design, and technology to secure environment and social impact Capacity of constructors (engineers and technology) Issues on Residential & Commercial land Requirement for Future Land Price and Speculation of Land Planning and Legal Issues The Republic of the Union of Myanmar Ministry of Construction THANK YOU FOR YOUR KIND ATTENTION! 42
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