Property expo aims to develop country’s real estate market

Visitors view scale model of high-rise buildings at Myanmar’s biggest property expo.—Photo: Khaing Thanda Lwin
Visitors view scale model of high-rise buildings at Myanmar’s biggest property expo.—Photo: Khaing Thanda Lwin

Yangon, 3 May — Myanmar’s biggest property expo kicked off on Friday at Tatmadaw Convention Hall in Yangon, aiming to increase investment in the property sector.
About 3,000 apartments, condominiums, and detached houses are being promoted by 50 companies and agents. Nearly 30 under-construction projects are on show at the expo, most of which are expected to be completed by 2016.
“During this expo, people can enjoy discounts of between 5% and 30 %,” said Nay Min Thu, managing director of iMyanmar Online Media and Advertising Co., the organizer of the event.
“The three-day exhibition also aims to disseminate knowledge on property and to develop the country’s property market,” he added.
The expo also includes seminars by 16 experts including the president’s economic advisor Dr Aung Tun Thet.
Construction companies should place emphasis on the safety of construction workers and following international standards without focusing on their interests alone, Dr Aung Tun Thet told reporters at the expo. He added the government should accelerate the construction of more low-cost housing in the country.
Currently the demand for both property rental and ownership and are is surging despite the market being cool at the beginning of this year.   Nay Min Thu said: “The number of people visiting www.imyanmarhouse.com has been on the rise since mid-April. Normally, about 120,000 people per month visit the website. Sometimes this number has increased up to 150,000”.GNLM

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