The construction industry is set to become a major growth driver of Myanmar’s economy, as investors flock to capitalise on economic liberalisation and a major public infrastructure programme. The sector has expanded rapidly since 2012, although growth moderated in 2016 as a result of election uncertainty and regulatory reforms. Residential real estate, particularly the affordable housing segment, will remain the chief engine of growth over the medium term, though a large infrastructure deficit…
Construction & Real Estate
From The Report: Myanmar 2017
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The construction industry is set to become a major growth driver of Myanmar’s economy, as investors look to capitalise on economic liberalisation and a major public infrastructure programme. Residential real estate, particularly affordable housing, will remain the chief engine of growth over the medium term, though a large infrastructure deficit and rising congestion in Yangon should see public works comprise a growing portion of activity. Although the outlook for the office and residential segments remains subdued as a result of rising new supply, the real estate sector is expected to maintain steady momentum in the coming years, on the back of further economic liberalisation and new opportunities in the retail, non-serviced apartment and affordable housing segments.
This chapter contains a viewpoint from U Win Khaing, Minister of Construction; and interviews with Wong Heang Fine, Group CEO, Surbana Jurong; and Omar Shahzad, Group CEO, Meinhardt Group.