Yangon's real estate sector has seen a great increase in demand for high-standard condominiums and office units following amendments allowing foreigners to wholly invest in the provision of educational services in Myanmar.

The demand increase comes as education investors find leasing or buying condominiums or new offices to open schools, easier than searching for land on which to establish a new school campus. With enquiries for this type of environment coming from post-graduate and short-term course providers who do not require much space. 

• Kaplan Myanmar University College, a subsidiary of US education provider Kaplan Inc, opened its campus in the same compound as Diamond Condo on Pyay Road in June.
• Also in June, KI College Singapore announced a new learning centre to open on the ground floor of Golden City Business Center in Yankin township in August. 

This ongoing trend may prove useful for developers, as offloading final supply condominiums and units can be difficult. 

It can be expected that existing condominium tenants may also benefit, particularly expats with school-aged children if school facilities were established within residential areas and complexes. 

A successful example of this is Dulwich College (Yangon), which has opened two schools campuses:

• Pun Hlaing Estate in Hlaing Thar Yar
• StarCity in Thanlyin 

The British International College has also announced that it will invest a further $8 million into StarCity to expand and further develop campus facilities. Dulwich, Pun Hlaing and StarCity are owned and run by Yoma Strategic Holdings. 

For education investors, location is an important factor to consider. Space, the surrounding area and the opportunity for student expansion in the long term are vital for success, and mixed-use development projects are an effective option to safeguard success. 

The changes in regulation will also make it easier for private schools to open in Myanmar, with the promise for potential growth in the property and education sector.

Source: Myanmar Times, Dulwich College

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