Developers must learn to adapt to a post-covid environment in order to give Myanmar's economy the best chance of recovery, Colliers International says.

The Myanmar Times reports Yangon Region Construction Inspection Committee has indicated construction work in Yangon, which has been halted since the third week of September, will be allowed to resume if new rules are followed. 

“Construction projects in Yangon Region will have to report to the committee and after inspection, they will be allowed to resume if they are in compliance with the rules,” Committee Associate Secretary U Myo Myint told the Times.

At a glance:

• Yangon Region Construction Inspection Committee has indicated construction work in Yangon will be allowed to resume if new rules are followed.
• Construction in the city has been halted since the third week of September.
• Colliers Myanmar says construction of major infrastructural projects such as Dala Bridge will be key in reviving the post-Covid economy.

Colliers Myanmar Research Manager Hpone Myint Thu said the concerns for workplace safety had to be measured against severe economic impacts that might result from prolonged restrictions.

"From the ongoing Dala bridge construction, that would connect the Downtown Yangon and the southern Dala Township, to a typical apartment building site in the neighbourhood, the stay-at-home orders caused extensive delays and postponements inevitably across the city," he said.

"Given the population of more than 5 million, the limited testing capacity has been a challenge in identifying infected cases and containing the virus for the last few months.

"Looking closely, it is even more conspicuous that the lurking economic downturn may take a toll further on the overall growth of the economy in the months ahead.

"As the construction of major infrastructural projects such as Dala Bridge will be key in reviving the post-Covid economy, it cannot be deferred any longer."

Similar to this: 

Colliers Myanmar achieves success at Asia Pacific Property Awards 

Colliers partners with developer for new Yangon mixed-use project

Colliers calls on stakeholders to 'get their act together' following positive foreign investment figures