MYANMAR CONSTRUCTION AND ECONOMIC CONTINUE TO ITS BRIGHT FUTURE
According to Asian Development Bank, Myanmar’s economic performance should improve, with GDP growth at 7.7% in 2017 and 8.0% in 2018.
McKinsey estimates that Myanmar economy will quadruple in size from USD 45 billion in 2014 to USD 200 billion by 2030.
Myanmar construction sector registered a 7.2% CAGR from 2001 to 2015 and set to carry 10.37% annual growth rate from 2016 to 2020.
The industry value stood at USD 8.2 billion in 2015 and anticipated to value USD 13.5 billion in 2020.
The new Myanmar Investment Law aims to develop businesses and investment that meet international standards and create job opportunities. Foreign investment is expected to pour into the country and aid in the further growth of the real estate sector.
Increased synergies between real estate developers and banks have allowed more property seekers to qualify for installment plans.
Domestic investment in Myanmar’s real estate sector totaled MMK2.767 trillion (USD 2.043 billion) as of March 2017, the highest for any sector in the country. Myanmar investors funneled MMK13.191 trillion into 1,241 enterprises across 11 sectors, with rea
150 foreign companies are expected to channel more than USD 1.7 billion into Thilawa Special Economic Zone with USD 773 million going to the manufacturing sector which the first-phase development of 101 hectares in Zone B is expected to be completed in th
Myanmar is estimated to require USD 650 billion in investment until 2030 and USD 320 billion need to be invested in the country’s infrastructure, said Vice President Myint Swe at the opening of Myanmar Investment Forum 2017 .
Source : Asian Development Bank, McKinsey, Myanmar Business Today, MP Group International , Property Report, Eleven Myanmar