YOMA LAND TO DEVELOP SUBURBAN OFFICES, MORE APARTMENTS IN YANGON
NEWS
MYANMAR-FOCUSED conglomerate Yoma Strategic Holdings' real estate arm, Yoma Land, plans to develop its first suburban commercial property at StarCity, and a second residential project under the City Loft brand in another part of Yangon. The City Loft brand was first launched in November 2018 at StarCity, one of Yoma Land's flagship developments in the east of Yangon. The two new projects are in line with Yoma Strategic's mission to deliver a "sustainable urban lifestyle and vibrant master planned communities", Yoma Strategic said on Monday.(Source: The Business Times, November 11, 2020)
RESEARCH VIEW | Hpone Myint Thu (Research Manager):
Located on the road to Thilawa Special Economic Zone (SEZ) and International Port Terminal, Star City has long been seen by many as a gated satellite community at the outskirt of Yangon. Nevertheless, facilities and amenities are provided on par at international standard and quality that some expats working in SEZ even chooses to reside in Star City disregarding the distance from the more ebullient and commercial downtown area. Bringing in a dedicated office space inside the existing gated community is likely to fill in the missing real estate crossword, and solidify Star City as one of the few self-sufficient mixed-use communities outside Yangon. Better, it may even radiate its success and inspire other developers to follow suit for more such initiatives in Thanlyin Township. Colliers studies reveal that Thilawa Garden City by Thilawa Property Development Limited, adjacent to SEZ, also called for the business proposals from interested parties in Aug 2020 to invest in shopping mall, movie theatre and food court developments in its commercial and residential area. However, all these prospects are not without challenges. The smooth commute to Thanlyin, in Colliers view, will remain to hinge upon the completion of the four-lane Thanlyin Bridge No.3, which is still in construction and will not finish until 2023. In fact, the existing two-lane bridge, where traffic congestion tends to occur due to the vehicle breakdowns halfway on the bridge, has been a headache from time to time for the commuters in rush from both sides of the river. Owing to that, Thanlyin is not likely witness its fullest potential till the new bridge materializes. Until then, the good news is investors will have the time above all to secure a seat to ride in Thanlyin’s lift-off.
MYANMAR CONSIDERS REOPENING PLANS
NEWS
Even as Myanmar struggles with more than 88,000 Covid-19 cases Myanmar Tourism Marketing (MTM) presents ‘White Paper’ recommendations on “reopening and safety first.” MTM gained valuable observations during four virtual panel discussions held during November that attracted tourism experts. They included deputy director of Singapore Tourism Board, Eileen Lee, Exo Travel CEO, Hamish Keith, Accor Asia Pacific communications director, Veronique Augier, Yangon Aerodrome Company head of training, Daniela Angeja and Myanmar Centre for Responsible Business, Win Min. Development partners such as the Myanmar Centre for Responsible Business, Hanns Seidel Foundation and Myanmar Responsible Tourism Institute curated the White Paper’s observations and recommendations.(Source: TTR Weekly, December 2, 2020)
RESEARCH VIEW | Hpone Myint Thu (Research Manager):
A full recovery of tourism sector in Myanmar, as Colliers consistently highlighted in quarterly reports, will be tedious in the near term. The tightened restrictions imposed by Mandalay Region in November reaffirm that keeping domestic transportation and travel as in normal times alone would, in fact, be challenging given the limited testing capacity to identify new outbreaks thoroughly. Nevertheless, the answer to tourism puzzle, in Colliers view, might lie in the official launching of promising vaccines over the last few weeks. If made available in a shorter time span, the sought-after vaccines could be a complete gamechanger for Myanmar. While frontline healthcare workers, elderly people and clinically vulnerable individuals with underlying health conditions should unquestionably be prioritized for inoculation, Colliers recommends the stakeholders in tourism industry to also explore public-private-initiatives to make the vaccine accessible for travelers. When the inoculation quota for vulnerable groups is fulfilled, individuals with the urgent need to travel for business purposes may desire to even pay for priority vaccination. If implemented strategically, Myanmar may see the return of tourism much earlier than many have reckoned. Once the flights are allowed to resume, the typical visa requirements may be eased to entice visitors. Yet, the certificate of vaccination is likely to become the new visa required to enter the country.
YANGON ELEVATED EXPRESSWAY, PHASE ONE TO COST $800 MILLION
NEWS
Phase one of the Yangon Elevated Expressway Project, which includes construction of the Yangon Elevated Expressway and the Yangon Circular Expressway, will cost around $800 million, according to U Han Zaw, union minister for the Ministry of Construction. “The project is part of a Public Private Partnership (PPP) system with the Yangon region, and will help to reduce traffic congestion in the city,” he said.(Source: Myanmar Times, November 24, 2020)
RESEARCH VIEW | Hpone Myint Thu (Research Manager):
Passing through a total of eight townships, this expressway is expected to become the first major elevated ring road segment in Yangon. In Colliers view, the residential neighborhoods in Mingalardon, South and North Okkalapa Townships are likely to benefit the most from this infrastructure development due to the proximity to on and off ramps. With a total of 22 ramps, the travel time from Aung Mingalar Highway Terminal as well as Yangon International Airport to downtown will also be shortened, improving the overall mobility of Yangon. Meanwhile, the commercial and residential projects such as Terminal M by Mottama Holdings and Swe Daw City by GMP Co., Ltd are also anticipated to gain more popularity as a result. Furthermore, the expansion of industrial and residential areas in Mingalardon Township may also gather pace in the long haul. With this expressway, Yangon will have its northward expansion within an arm’s length. Time for investors and developers to reach over to it.
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