According to PwC Myanmar, foreign investments in real estate totalled USD$4.9 billion as of March 2018.

"Since the start of the political transition in 2011, Myanmar's real estate industry recorded explosive growth driven by both local and foreign invesments," PwC Myanmar said.

PwC Myanmar's Doing Business in Yangon 2018 report estimates there are over 1 million additional housing units projects for Yangon by 2040. The Department of Urban and Housing Development aims to fulfill 20 per cent of the projected demand.

Source: PwC

Recent changes in key regulations surrounding construction, investment and commerce industries have also improve prospects. 

"With the enactment of the new investment law, the new company law and the condominium law, the sector is expected to maintain a steady momentum in the coming years, on the back of further economic liberalisation."

Several mixed use developments have sprung up across Yangon over the past five years, a "rapid transformation" for the real estate sector.

Yangon Regional Government Organisational Structure

Source: PwC

These include the Yangon Central Railway Development, that will incorporate a new central transportation hub that integrates rail and mass transit.

New Yangon City is another major development set to transform the local real estate market.

Yangon City Development Committee (YCDC) are behind the development.

Yangon Regional Government Cabinet

Source: PwC

"The Yangon 2040 Master Plan presents a comprehensive vision for Greater Yangon by 2040. The target area is Greater Yangon (including Yangon City) and parts of the six periphery townships," the PwC report says.

Related reading: New Yangon City to be "job creation engine of the future" creating 2 million new jobs

In February, we reported that Mottama Holdings released information revealing nine new major development projects valued at US$1 billion with an expected completion date of 2022.

View the Doing Business in Yangon 2018 report here.

Source: PwC Myanmar.

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