In an effort to alleviate problems associated with rapid urban growth, the Yangon regional government announced the formation of the New Yangon Development Company (NYDC) in March 2018. The NYDC is tasked with overseeing the development of a new city on the western outskirts of the commercial capital.
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 in more recent years. The country’s main real estate market, Yangon, experienced peak office rental prices as high as $110 per sq metre in 2013 and 2014, putting it on a par with...
In 2008, for the first time in history, more than half of humanity was living in urban areas. Perhaps the most remarkable observation about this trend is the speed at which it has happened: as recently as 1900 urban areas accounted for 13% of the global population. Cities are seen as opportunity hubs for many rural dwellers.
One facet of Oman’s continuing diversification drive is the construction of large, mixed-use developments that combine residential, commercial and office buildings. These spaces are set to support two of the five sectors targeted in the National Programme for Enhancing Economic Diversification, also known as Tanfeedh: tourism and manufacturing...
As the second-largest driver of non-hydrocarbons growth and the sector that employs the greatest number of people, construction plays a key role in Oman’s economy. While 2017 was a difficult year for the industry, forecasts suggest a return to growth in 2018 and 2019 on the back of higher oil prices and a government-supported diversification...
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