Construction & Real Estate
From The Report: Myanmar 2016
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Myanmar’s construction industry has expanded rapidly in recent years. The sector’s GDP growth amounted to 7.7% in fiscal year 2014/15 and is expected to grow to 8.3% in 2015/16. Despite political risks, Myanmar’s development needs remain significant, particularly in infrastructure. With the victory of the National League for Democracy in November 2015, it is expected that 2016 will see an ongoing commitment to updating essential services, such as water supply and sewerage, upgrading airports and roads, and building better housing. With some 125,000 sq metres of retail space due to open over the next four years, Yangon is set to see more franchises and mid-tier brands establish themselves in the city. There is also potential for more affordable and mid-range housing projects due to Myanmar’s growing population, which is expected to increase by about 50% through to 2040. This chapter contains interviews with Ang Wee Gee, CEO, Keppel Land; and U Win Khaing, President, Myanmar Engineering Society.