Yangon is the largest economic centre across the country and its transport systems are also essential to economic activities and quality of life of its people. At a time when Yangon is making strenuous efforts to develop a world-class metropolitan, urban public transportation plays a leading role for enabling travelling people to move from one place to another. Five main types of transport, such as private car, rail, taxi, trishaw and bus are available in Yangon. Yangon public rail transport project has been under implementation for enabling Yangonites to travel in the inner city with peace of mind. “With the assistance of Japan, concerted efforts are being made to develop Yangon public rail transportation system,” said U Thant Sin Maung, Union Minister for Transport and Communications. The national transportation plan has been drawn up in use of the assistance from Japan. Implementations are being carried out according to prioritized order. It is also an attempt to undertake urban transportation development in a systematic manner.
(Source: Global New Light of Myanmar, May 5, 2019)
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Investment opportunities in transport infrastructure remain promising. However, the realization of these opportunities will be highly reliant on the government’s action to reform existing practices. As explained by Baker & McKenzie in their latest infrastructure report, one of the crucial aspects is reforming the BOT system. Myanmar’s growth trajectory and rapidly expanding traffic levels will provide significant opportunities to invest in the trunk and rail road network. Second, the development of regional airports, especially those located in tourism hotspots, has already received government acknowledgement as an important step in developing both the tourism and transport sectors. Lastly, urban transport infrastructure, especially in Yangon but also in Mandalay, presents opportunities whether in local/commuter rail, road and bridge projects, or alternative transport options.
PROPERTY MARKET IN MYANMAR EXPECTED TO STAY FLAT TILL 2020
Myanmar’s property market has been lackluster since 2015 and this situation is expected to continue until next year, said U Myo Myint, general secretary of the Myanmar Construction Entrepreneur Association during an industry discussion in Yangon last week. “This is the current situation. However, what is good is that there will be no worsening in the conditions or a downturn. We cannot say precisely whether the market will climb in 2020 as a lot depends on the policies of the government,” he said.
(Source: The Myanmar Times, May 6, 2019)
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Government challenges in this picture encompass refining both economic strategies and legal policies for investors, managing real estate ventures, and capitalizing in infrastructure to recuperate the liveability of the country. Despite the challenges, one of the property segments such as retail continued to show strong results with all the major establishments maintaining almost full occupancy rates across Yangon. With all these taken into consideration, the market is expected to maintain secure momentum in the coming years, on the back of further economic liberalisation and new prospects coming up in each property segments of Myanmar. With the recent liberalisations in insurance, retail and wholesale markets coupled with the sustained GDP growth, Colliers believes that the future growth is promising and will trail a lengthy upcycle as more investment sectors are liberalized.
Royal Sportainment Complex has opened in Myanmar, the complex will be new and exciting for those living in Yangon. On April 28, 2019 they officially opened the first of its kind indoor ice-skating rink in Myanmar. In addition to the ice-skating rink there is a new bowling center at the complex. Certainty the new sports complex will be a perfect place for families and friends to gather and have fun while getting in excellent exercise. Construction of the Complex began in September 2016. The complex has the goal to promote public wellness and provide sports facilities to youths and their families. The complex houses a 675-square-meter ice-skating rink on the ground floor. The width of the ice on the rink is 88 mm. The bowling center on the first floor of the complex has 11 lanes for bowling and a stand which can accommodate 400 onlookers.
(Source: Myanmar Business Today, May 7, 2019)
Across all income classes, especially those within ages 15-30, Delloitte remarked a notable pattern: as household incomes increase, spending on entertainment and recreation correspondingly increases. Entertainment and recreation tier accounts for about 8% of the average household expenditure. This is comparable to other more mature markets such as Singapore (6.5%) and Japan (10%). While this figure is among the highest scores in regional ranking, this remains unrealized, evident with limited recreation and domestic entertainment options in the city. This theme should drive retail developers to adopt and incorporate “full experience” approach around the products and offerings they provide. Developers need to analyse their malls’ theme and positioning and identify unique retailers with entertainment & community-tied components.