Construction & Real Estate

Since the beginning of Myanmar’s economic and political reform in 2011, the construction industry has experienced mixed fortunes. Although the government has recognised the economic multiplier effects of infrastructure development, some large-scale projects have been held up by bureaucracy and investor scepticism. However, recent efforts suggest cause for optimism, including the large-scale urban development projects planned for Yangon and Mandalay, and the government’s assertion of its commitment to infrastructure development and public-private partnerships under the Myanmar Sustainable Development Plan 2018-30. Meanwhile, large-scale real estate projects – particularly mixed-use developments – are nearing completion, which should improve investor confidence for current and future projects. Nonetheless, after an initial property boom in the first few years after political and economic reforms began in 2011, Myanmar’s real estate sector has faced some challenges recently. This chapter contains interviews with U Han Zaw, Minister of Construction; and Serge Pun, Chairman, Serge Pun & Associates.