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Yangon Real Estate Review Q3 2014
Sample pages
Introduction and methodology
This report is based on research carried out in Yangon in 2014, as well as the longer-
term market understanding of our staff. In addition to conducting interviews with
developers, contractors, brokers, government and local authority officials, as well as
other relevant businesses and organisations, we conducted numerous site visits to
the projects mentioned in this report.
It is aimed at a wide range of readers, including developers, investors, funds and
consultants, as well as construction companies, architects and building materials
suppliers seeking to do business in the sector.
The report is updated quarterly: the next issue will be published in January 2015 with
updated information across all sections.
While we have made every effort to ensure that the information in the report was
accurate at the time of research, the real estate market in Yangon is in flux. It is
therefore inevitable that some information in this report may change rapidly.
Pricing figures should be seen as guidelines only, and the cost of properties in a
certain zone may be significantly higher or lower than the averages we use, given the
immature structure of the Yangon real estate market.
The report cannot and does not intend to provide a comprehensive picture of
Myanmar’s economic, legal, political and fiscal environment. Although these are
covered in the report, the aim of this is to place the real estate sector in the wider
context of the economy, the business environment and relevant legal considerations.
As legislation in Myanmar can be subject to unforeseen change, we always
recommend that companies seek specialist advice from a qualified local law firm
where required.
About Frontier
Frontier is a business research firm covering the world’s more economically exciting
markets. We are based in London and in 2014 established an office in Myanmar, where
we provide a range of custom and subscription-based business research services.
In the real estate sector we undertake market and feasibility studies for residential,
office and retail property, as well as hotels. Our team of local and international staff
offer a range of expertise, including direct experience of working for local real estate
developers in Yangon.
The Myanmar Real Estate and Construction Monitor is Frontier’s subscription service,
an essential resource for developers, investors, contractors, architects, project
management and other firms operating in the sector.
It features news analysis, tenders, company profiles, a Yangon project tracker, data and
copies of relevant legislation. Subscribers also receive four copies per year of our
Yangon Real Estate Review, published quarterly.
To discuss how we can help your business in Myanmar, please get in touch.
realestate.frontiermyanmar.com
+95 92 5334 9604
Office 12, Building 27, Shwe Ohn Pin Housing, Yan Shin Road, Yankin, Yangon
Michael Guarino, Commercial Director
Clare Hammond, Managing Editor
Myo Zaw Hein, Research Analyst
YANGON REAL ESTATE REVIEW, Q3 2014
TABLE OF CONTENTS
SECTION A—KEY DEVELOPMENTS IN Q3 2014 ................. 11
1.1 New entrants.................................................................................................... 12
1.2 Companies and projects .................................................................................. 13
1.3 Transport and infrastructure ........................................................................... 14
1.4 Government and legislation ............................................................................. 15
1.5 Data and statistics ............................................................................................ 17
SECTION B—YANGON AND MYANMAR ........................... 18
2. Macroeconomic and business environment ...................................
Executive summary .......................................................................................... 19
2.1 Overview .......................................................................................................... 20
2.2 Historical development .................................................................................... 21
2.3 Population ........................................................................................................ 21
2.4 GDP growth and key sectors ............................................................................ 22
2.5 External trade ................................................................................................... 23
2.6 Inflation, currency and monetary policy .......................................................... 24
2.8 Foreign investment ......................................................................................... 25
3. Legal and investment framework .............................................. 27
3.1 Introduction ................................................................................................... 28
3.2 Types of immovable property in Myanmar .................................................... 28
3.3 Key laws and acts ........................................................................................... 29
Transfer of Property Act .............................................................................
Transfer of Immovable Property Restriction Act ........................................
Stamp Act ...................................................................................................
Foreign Investment Law (FIL) ......................................................................
Condominium Law ......................................................................................
Special Economic Zones (SEZ) Law ..............................................................
3.4 Build-Operate-Transfer (BOT) agreements .....................................................32
3.5 Zoning and planning ......................................................................................33
3.6 Sales transaction process ................................................................................34
3.7 Rental contracts ..............................................................................................34
3.8 Real estate financing ......................................................................................34
4. Yangon ....................................................................................... 36
4.1 Overview and role of Yangon in national economy ......................................... 37
4.2 Economic drivers .............................................................................................. 38
4.3 Geography and layout ...................................................................................... 39
4.4 Planning and zoning.......................................................................................... 40
4.5 Demographics ................................................................................................... 42
4.6 Utilities and infrastructure ............................................................................... 45
4.7 Transportation .................................................................................................. 45
4.8 District profiles and mapping............................................................................ 47
Downtown-CBD ............................................................................................. 47
Bahan ............................................................................................................. 49
Ahlone ........................................................................................................... 51
Kamayut ........................................................................................................ 53
Mayangone.................................................................................................... 55
Sanchaung ..................................................................................................... 57
Hlaing ............................................................................................................. 59
Yankin ............................................................................................................ 61
Dagon ............................................................................................................ 63
Mingala Taung Nyunt .................................................................................... 65
Tamwe……………………………………………………………………………………………………….67
SECTION C – MARKET ANALYSIS .........................................
5. Residential property ............................................................... 69
Executive summary ......................................................................................... 70
5.1 Residential stock ............................................................................................. 71
5.2 Recent supply trends ....................................................................................... 72
5.3 Pricing ............................................................................................................. 73
5.4 Rental pricing ................................................................................................. 75
5.5 Officially appraised values ............................................................................... 76
5.6 Demand drivers ............................................................................................... 77
5.7 Future supply pipeline ..................................................................................... 78
5.8 Government housing projects ......................................................................... 79
5.9 Outlook ............................................................................................................. 81
6. Office ....................................................................................... 82
Executive summary ........................................................................................ 83
6.1 Background and recent trends ....................................................................... 84
6.2 Current office stock in Yangon ....................................................................... 86
6.3 Pricing............................................................................................................. 86
6.4 Key tenant types ............................................................................................ 86
6.5 Future supply ................................................................................................. 88
6.6 Outlook .......................................................................................................... 90
SECTION D – PROJECT PROFILES .........................................
7. Profiles of major real estate projects ....................................... 91
7.1 68 Residence ................................................................................................ 92
7.2 The Atrium Condominium ............................................................................ 93
7.3 AWBA ........................................................................................................... 94
7.4 Capital City.................................................................................................... 95
7.5 Crystal Executive Condominium ................................................................... 96
7.6 Daewoo Amara Lotte Hotel .......................................................................... 97
7.7 Dagon City 1 ..................................................................................................98
7.8 Diamond Inya Palace ....................................................................................99
7.9 Diamond Valley Rise ...................................................................................100
7.10 Ga Mone Pwint Commercial Complex ........................................................101
7.11 GEMS Garden Condominium ......................................................................102
7.12 Golden City ................................................................................................103
7.13 Golden Link Condo .....................................................................................104
7.14 Grand Myakanthar Condominium ..............................................................105
7.15 HAGL Myanmar Centre ..............................................................................106
7.16 Hilltop Vista Condominium ........................................................................107
7.17 Illustra at Pho Sein .....................................................................................108
7.18 Infinity by KHG ...........................................................................................109
7.19 Inya Lake View ...........................................................................................110
7.20 Junction City ..............................................................................................111
7.21 Kantharyar Consortium Project .................................................................112
7.22 Kabaraye Executive Residence ...................................................................113
7.23 Landmark Development ............................................................................114
7.24 Manawhari Commercial and Residential Complex .....................................115
7.25 Mawrawady Condo ....................................................................................116
7.26 Merchant Suite ..........................................................................................117
7.27 Mindhama Residence Phase II ...................................................................118
7.28 Myat Mingalar 313 .....................................................................................119
7.29 Naing Group Tower II .................................................................................120
7.30 Northern Inya Residence ............................................................................121
7.31 Novotel Yangon Max...................................................................................122
7.32 Paragon Residence .....................................................................................123
7.33 Parkside One ..............................................................................................124
7.34 Polo Club Residence ...................................................................................125
7.35 Project Pioneer ..........................................................................................126
7.36 Pun Hlaing Lodge ........................................................................................127
7.37 Pyay Garden ...............................................................................................128
7.38 Pyay Tower and Residences .......................................................................129
7.39 Riverview Point ...........................................................................................130
7.40 Royal Sayarsan by Than Htike Lu ...............................................................131
7.41 San Yeik Nyein Condominium ....................................................................132
7.42 Sanchaung Garden Residence ....................................................................133
7.43 Sedona II ....................................................................................................134
SECTION D – PROJECT PROFILES (CONT’D) ..........................
7.44 Shwe Moe Kong Condominium ................................................................. 135
7.45 Space @ Yankin ......................................................................................... 136
7.46 Star City ..................................................................................................... 137
7.47 State House Hotel (former Police Commissioner’s Office) ......................... 138
7.48 Sule Square ................................................................................................. 139
7.49 Than Lwin Condo ....................................................................................... 140
7.50 The Yar Pyae Condominium ....................................................................... 141
7.51 Times City .................................................................................................. 142
7.52 Twin Centro Condominium ....................................................................... 143
7.53 Union City ................................................................................................... 144
7.54 Union Financial Centre .............................................................................. 145
7.55 Vantage Tower .......................................................................................... 146
7.56 Wave Hotel ................................................................................................. 147
7.57 Yangon Business Centre ............................................................................. 148
7.58 Z Villas ........................................................................................................ 149
8. Prospective future projects .....................................................150
8.1 Former Import/Export Department Head Office ........................................... 151
8.2 Former Myanmar Trading Corporation building ........................................... 151
8.3 Former MOGE building .................................................................................. 152
8.4 Former Ministry of Hotels building ............................................................... 152
8.5 Former State Defence University .................................................................. 153
8.6 Nanthida Port ................................................................................................. 153
8.7 Former Secretariat Building .......................................................................... 154
8.8 Former Supreme Court .................................................................................. 155
8.9 Wardan Jetty .................................................................................................. 156
8.10 Botahtaung Port ............................................................................................. 156
8.11 Mindhama Central Business District .............................................................. 157
8.12 Yangon Central Rail Station ............................................................................ 158
8.13 Thilawa Special Economic Zone (SEZ) ............................................................ 159
SECTION E – COMPANY PROFILES ....................................... 9. Developer profiles .................................................................. 160 9.1 Adventure Myanmar Tours and Incentives ................................................. 161
9.2 Ah Yone Oo ................................................................................................. 162
9.3 Asia Myanmar Consortium Development (AMCD) ...................................... 163
9.4 Aung Kaung Kyaw (AKK) Group ................................................................... 164
9.5 Aung Min Pyae Sone Construction .............................................................. 165
9.6 Beaver Group .............................................................................................. 166
9.7 Capital Development .................................................................................. 167
9.8 Creation Myanmar ...................................................................................... 168
9.9 Dagon Construction ..................................................................................... 169
9.10 Eden Construction ....................................................................................... 170
9.11 Fatherland Construction ............................................................................. 171
9.12 Ga Mone Pwint ........................................................................................... 172
9.13 Green Vision ................................................................................................ 173
9.14 Htoo Construction Development ................................................................ 174
9.15 Jewellery Luck Family Group ....................................................................... 175
9.16 Keppel Land................................................................................................. 176
9.17 KMA Construction and Real Estate ............................................................. 177
9.18 KT Group ..................................................................................................... 178
9.19 Lat War Group ............................................................................................. 179
9.20 Mandalay Golden Wing Construction ......................................................... 180
9.21 Marga Global............................................................................................... 181
9.22 Max Global (Max Myanmar) ....................................................................... 182
9.23 Motherland Construction ............................................................................ 183
9.24 Myanmar Seilone ........................................................................................ 184
9.25 Myanmar V-Pile .......................................................................................... 185
9.26 Naing Group ................................................................................................ 186
9.27 Royal Land Construction (Taw Win Myay) .................................................. 187
9.28 Shangri-La ................................................................................................... 188
9.29 Shine Construction ..................................................................................... 189
9.30 Shwe Taung Property .................................................................................. 190
9.31 Shwe Than Lwin Construction ..................................................................... 191
9.32 Ta Gaung Bwar ............................................................................................ 192
9.33 Taw Win Family ........................................................................................... 193
SECTION E – COMPANY PROFILES (CONT’D) .......................
9.34 Uniteam Marine ............................................................................................ 194
9.35 Wa Minn Development ................................................................................. 195
9.36 Yadanar Myaing ............................................................................................ 196
9.37 Yoma Strategic .............................................................................................. 197
9.38 Yuzana Company ........................................................................................... 198
9.39 Zaykabar........................................................................................................ 199
Newcomers and other larger developers active in Yangon…………. ….200
9.40 Htike Sin ........................................................................................................ 201
9.41 Htun Myat Aung ............................................................................................ 201
9.42 Noble Twin Dragons ...................................................................................... 202
9.43 KHG Development ........................................................................................ 202
9.44 Pyae Soan Win Naing (PSWN) ....................................................................... 203
9.45 Nay Nann Thukha .......................................................................................... 204
9.46 Uni Global Power .......................................................................................... 204
9.47 Chinsu ........................................................................................................... 204
9.48 Myat Su Mon Construction ........................................................................... 204
9.49 United GP Development ............................................................................... 205
9.50 CNQC Development ...................................................................................... 205
9.51 MKT Construction ......................................................................................... 205
9.52 CNQC Flying Tiger Engineering ...................................................................... 205
9.53 Great Master Construction ........................................................................... 206
10. Profiles of key government bodies ..........................................207 10.1 Directorate of Investment and Company Administration (DICA) ............... 208
10.2 Ministry of Construction............................................................................. 209
10.3 Ministry of Hotels and Tourism ................................................................. 210
10.4 Myanmar Port Authority (MPA) ................................................................. 211
10.5 Yangon City Development Committee (YCDC) ........................................... 212
Capital Diamond Star Group was set up in Myanmar in the 1960s as a trading company. It now has 13 operating entities across sectors including food, retail, real estate, pharmaceutical, financial services, automotive, telecommunication and infrastructure. Its initial focus was food, but the company entered the retail market in 2008. Its flagship real estate project, mixed-use development Capital City, was launched in 2013. The project is progressing as planned. The first phase, Gems Garden Condominium was 45% complete and 75% sold out as of end-September 2014 Construction on the second phase is expected to start in 2015.
Capital Development, along with other CDSG subsidiaries Capital Construction and Capital Leasing, are also building projects such as jetties and flyovers, as well as providing leased equipment to other projects across the country. In August 2014 the company won a tender to build a flyover at Myaynigone junction, ahead of Htoo Construction Development, Myanmar V-pile, Crown Advance and Dagon International. The Yangon Regional Government will spend $17.3m on the flyover.
Capital Development
Nationality Myanmar
Ownership One of 13 companies under Capital Diamond Star Group (CDSG)
Parent/subsidiaries Affiliated with Capital Automotive, Capital Construction, Capital Life Insurance, Diamond Star, JDS, Myanmar Consumer Enterprise, PAC Link Trading, Premier Coffee, Mawlamyine Cement, Capital Con-nect, Capital Mobile and Capital Leasing.
Year established 1960
Employees 5,500 (CDSG Group)
Turnover $380m (group turnover, FY2013)
Profit
Completed projects Capital Hypermarket (Yangon)
Capital Hypermarket (Nai Pyi Taw)
Ongoing projects Gems Garden Condominium (Yangon)
Capital City (Yangon)
CONTACTS AND MANAGEMENT
Address No. 256-260, Sule Pagoda Road, Kyauktada Township, Yangon
Website www.cdsg.com.mm
Phone / email (+95) 1 373 388
Management Ko Ko Gyi (Group Managing Director)
Ko Soe Thiha Hlaing (Managing Director Capital Development)
141
SAMPLE COMPANY PROFILE
Construction is due to begin in December 2014 with completion slated for December 2016. Sales prices are approximately $200-300 per sq ft, with terms involving an initial deposit of $1,858 followed by monthly instalments over 30 months. According to the company, over 136 units in total had been sold as of late September 2014.
Sanchaung Garden Residence
Location Sanchaung Street, branch from Pyay Road between Dagon Center and City Mart, Sanchaung township, Shin Saw Pu district, near Padonmar Football Field, Yangon
Developer Sanchaung Garden Development Group, affiliated with Wa Minn
Contractors/consultants Space Marix (Vietnam) - Architect
AEDAS (Singapore) - Master planning
Estimated completion December 2016
Status Q3 2014
Announced value
Tender terms Freehold land
Duration
COMPONENTS
Residential Five buildings, each 12.5 floors, with a total of 254 units
Office N/A
Retail N/A
Supporting Gyms, restaurant, swimming pool, parking space
Hotel One hotel, 12.5 storeys, 130 rooms
Site size 1.95 acres
SAMPLE PROJECT PROFILE
1.1 NEW ENTRANTS
Myanmar contractor Home Construction has signed an MOU to help Thailand’s D&W
(Asia) expand into Myanmar, primarily in the high-rise market.
Oxley Myanmar, the subsidiary of Singapore’s Oxley Holdings, will develop its debut
project, a 20-storey mixed-use development in Yangon, called Min Residence.
Indonesian contractor Wijaya Karya (Wika) has signed a $125m contract to build a
mixed-use development in Yangon for Noble Twin Dragons, a Singapore-incorporated
developer. The Pyay Tower and Residences will cost $270m and will feature one
commercial and twin residential towers. The project is a Myanmar debut for both
companies.
Malaysian listed company Ho Hup Group has entered into a joint venture with
Myanmar’s Zaykabar Company, though its 70% owned subsidiary, Ho Hup Myanmar,
to develop a luxury villa project in Yangon. The $200m project will be called Z Villas
and will comprise 191 villa and bungalow units in Mingalardon Garden City – a large-
scale Zaykabar housing project to the north of Yangon.
Philippines property company Ayala Land announced plans to launch its debut project
in Myanmar – a mixed use development, though a joint venture with a local company.
No further details are yet available.
Thailand’s Buritara Development Company is negotiating with a Japanese property
firm to develop a condominium in Yangon. It aims to finalise the deal by mid-2015.
French hotel group Accor has plans to boost its Myanmar portfolio to a total of nine
hotels, including three budget properties under the Ibis brand, two of which will be in
Yangon and one in Bagan. These will be developed by Myanmar Golden Star Group.
In addition, the company has partnered with Max Myanmar Group to develop
Novotel Yangon Max, which is due to open in early December, as well as hotels in
Mandalay and Nay Pyi Taw.
Thai hotelier Dusit International announced plans to develop a hotel in Bagan as well
as an upscale residential project in Yangon and several other resorts across Myanmar.
The Yangon project will be developed in cooperation with a Japanese firm.
Swiss luxury hotel firm Kempinski will manage a property in downtown Yangon which is
being developed by Flying Tiger Engineering, in the former small claims court building
on Strand Road. It plans to open under the name Kempinski Yangon in 2017 and will be
managed through a joint venture with Jewellery Luck Family (JLF) Group. The project
has been opposed by local lawyers who believe the renovation is inappropriate, given
the history of the building. Kempinski will also open a Nay Pyi Taw hotel in November in
collaboration with JLF and Kanbawza Group.
The Ministry of Industry has entered into joint ventures to expand its three state-
owned cement plants, which are run by No. (3) Heavy Industrial Enterprise. The Thayat
factory in Magway region will be developed by Myanmar Jidong Cement. The Kyauk Se
factory in Mandalay region will be developed by Myanmar contractor Original Group
and the Kyan Khin factory in Irrawaddy region will be upgraded in a joint venture
between Myint Industry and an unnamed Chinese firm.
French industrial company Lafarge has started operating a cement factory in Myanmar
through local subsidiary Thilawa Cement & Building Materials (TCBM). At full capacity
the factory can produce 10,000 bags of cement a day.
Cement giant Semen Indonesia (SMGR) will postpone its expansion into Myanmar until
next year due to delays in negotiations with its local partner. The company has
budgeted $300m for its Myanmar expansion project.
Construction work has begun on Siam Cement Group (SCG)’s $400m debut Myanmar
cement plant. The Thai firm is building its plant in Mawlamyine, and expects it to be
operational in mid-2016.
1 KEY DEVELOPMENTS IN Q3 2014 SAMPLE PAGE
EXECUTIVE SUMMARY - Q3 2014
A combination of rapid population growth, urbanisation, rising incomes, domestic investment and the need to replace existing housing stock
continues to create strong fundamentals for residential property in Yangon. New local and international players continued to enter the market
in the third quarter of 2014, highlighting the perceived attractiveness of the sector.
The summer rainy season slowed construction in Q3, although progress has been made on certain projects, including the HAGL Myanmar
Centre in Yankin, where Phase I is due for completion in H1 2014. Several other projects are set for completion in Q4 2014 and Q1 2015.
Most off-plan higher-end condo units launched in Q3 2014 are priced in the $250-300 per sq ft range, with some premium projects rising above
$350 per sq ft (and higher for villas). Sales on many residential projects, mostly due for completion in 2016 and 2017, were launched in Q3 2014
with developers claiming strong take-up rates so far.
Concerns are rising over affordability and market size for higher-end projects, particularly as foreign nationals remain theoretically prevented
from buying property in Myanmar and the availability of mortgage financing is extremely low.
The government and local authorities have pledged greater focus on much-needed affordable housing. However, high land and construction
costs make it difficult for private-sector companies to generate profits from this segment of the market. Around 30,000 affordable housing
units, built by the public-sector, are meant to completed in Yangon next year.
* Figures refer to apartment units in purpose-built towers or mixed-use projects. Large-scale projects where unit numbers have not been announced are not included, meaning that real figures are likely to be
higher (assuming projects are built according to schedule). New residential projects are also likely to be announced in Q4 2014.
5 RESIDENTIAL MARKET
A rising number of residential units, mainly apartments, are under
construction or planning in Yangon. Based on our research, at least
10,000 higher-end apartment units in purpose-built towers or mixed-use
developments are expected to be completed before the end of 2017, not
including those in several major projects where components have not yet
been finalised. A particularly large volume of units is expected to be
completed in 2016 (see chart opposite*) 0
1,000
2,000
3,000
4,000
5,000
6,000
2015 2016 2017
2 YANGON - DISTRICT PROFILES AND MAPS
2.8 Downtown
Yangon’s downtown central business district (CBD) is made up of six townships – Lanmadaw, Latha, Pabedan, Kyauktada, Botahtaung and Pazundaung. A majority of the city’s colonial-era architecture is in this district, which is also home to a Chinatown and Little India, as well as the YCDC headquarters and the Sule Pagoda. It is the most cosmopolitan area of the city, as well as the busiest and most congested.
The area’s proximity to the Yangon River ports, along with the presence of several bank headquarters and important government buildings, make it a popular office location and it is set to become the commercial and financial heart of Yangon in the years ahead as older buildings are renovated and reinvigorated.
After the government relocated in 2004 to Nay Pyi Taw, many state-sector buildings in the CBD were left empty. Many of these are heritage buildings, which were leased long-term to private companies for redevelopment, but only a few are actively under renovation as of Q3 2014, as prospective developers found themselves facing higher costs and more demanding technology requirements than were initially envisaged.
Some of the higher-profile renovation projects, including the former Secretariat building (and the former Supreme Court have prompted opposition from local heritage groups, and developers have been forced to negotiate compromise solutions. Other heritage buildings, such as the former Myanmar Trading Corporation building and the former Myanmar Oil and Gas Enterprise (MOGE) building, both in Pabedan township, as well as the former Ministry of Hotels and Tourism building in Kyauktada township, may be tendered by the Myanmar Investment Commission (MIC).
Few sites remain available in the CBD for large-scale development, with the exception of land owned by the government. However, several of Yangon’s highest-profile projects are under planning or construction in the area. These include Yoma Strategic’s $450m Landmark Development on Bogyoke Aung San Road, which will renovate the Burma Railway Headquarters into a 250-room hotel as well as provide 90 residential units, 68,000 sq m of office across two 21-storey towers, and 37,000 sq m of retail space.
Junction City is a 9.3 acre mixed-use project by Shwe Taung Development, due for completion in late 2017. Sule Square is a commercial and retail development on Sule Pagoda Road, adjacent to the Shangri-La Hotel, and will comprise a 20-storey tower. Completion of these and other major projects, including Shwe Taung’s Union Financial Centre Naing Group’s towers I and II, will add large quantities of retail, office, residential and hotel space to the area from 2016-2018 However, high-rise projects in downtown Yangon are unlikely to become the norm. Yangon’s new zoning rules are expected to restrict building height to four to six floors around the Sule Pagoda and the waterfront. Buildings in the eastern and western parts of the district are expected to be limited to 442 feet. Sakura Tower and Centre Point are the main dedicated, multi-tenant office buildings in the CBD, and are largely filled with the representative offices of international companies. Many apartment units in the area have been converted into offices to make up for the lack of commercial supply.
The historic Aung San Bogyoke market, popular with tourists, is the single-largest shopping area in the CBD, selling a range of goods from handicrafts, to musical instruments, jewellery, and fashion. Theingyi Market provides wholesale supplies to many shops in Yangon and other regions across Myanmar. Junction Maw Tin (Lanmadaw township), BAK Centre (Botahtaung township) and Ocean Supercentre (Pazundaung township) are the largest modern enclosed centres in the area.
Most ground-floor units in Pabedan and Kyauktada townships are used for retail or F&B, with each of the numbered streets dedicated to selling a different product. For example, paper and stationary can be bought on 30th Street, electronics on Bar Street and Pansodan Street, and homewares on Lower Shwedagon Pagoda Road.
While a majority of buildings downtown are in dire need of maintenance, and project sites are hard to come by, the areas surrounding the ports represent some of the most high-potential development areas in the city. The port areas in Wardan, Nanthida and Botahtaung are due to be redeveloped under agreements with the respective authorities, although progress has so far been slow.
SAMPLE PAGE
DOWNTOWN CBD
Junction City Sule Pagoda Landmark Sule Square Former Secretariat
Police Commissioner’s Office
Trading Corp building
MOGE building
Ministry of Hotels and Tourism
Supreme Court Nanthida Port
4 YANGON DISTRICT PROFILES AND MAPS
Botahtaung Port
SAMPLE PAGE