<p><img alt="" src="/documents/10204/0/MPA+2018_Group+Photo.jpg/803218b2-899f-4000-b91e-9994223ffc8a?t=1534229653477" style="width: 1000px; height: 563px;" /></p> <p>The festive PropertyGuru Myanmar Property Awards 2018 gala dinner has unveiled this year’s crop of Winners and Highly Commended companies in an exclusive ceremony held on Friday evening (10 August) at the Sedona Hotel Yangon to honour the country’s building sector.</p> <p>Bagging the top award for Best Developer is Mottama Development Group Co., Ltd., which was also honoured with the new Special Recognition in Design &amp; Construction.</p> <p>“With more than a dozen accolades earned this year for current projects ranging from office to retail, condominium, mixed-use, and educational facilities, Mottama Development Group is a promise of a new era for the local real estate sector,” the independent panel of judges said.</p> <p><a href="http://www.property-report.com/detail/-/blogs/triumphant-winners-of-the-propertyguru-myanmar-property-awards-2-14" target="_blank"><strong>More: Full list of Winners and Highly Commended companies at the 2018 PropertyGuru Myanmar Property Awards</strong></a></p> <p>“The company’s superior attention to detail in design and construction is worthy of emulation by other builders in the country, as well as praise from consumers.”</p> <p>Its chairman, U Yang Ho, a widely respected construction magnate, was also honoured by the editors of PropertyGuru Property Report magazine as the 2018 Myanmar Real Estate Personality of the Year – the sole recognition not chosen by the judges.</p> <p><img alt="U Yang Ho, chairman of Mottama Holdings, accepts the 2018 Myanmar Real Estate Personality of the Year award from PropertyGuru's director of agent and developer product Jason Gregory." src="/documents/10204/0/MPA+2018_Real+Estate+Personality+of+the+Year.jpg/2ebeb5a1-c70e-48be-85c1-a2d5c39cbb4a?t=1534229673177" /></p> <p><strong>Multi-award winners</strong></p> <p>Mottama shares its Design &amp; Construction gong with double winner IGE Co., Ltd., which also collected a golden trophy for the Special Recognition in Corporate Social Responsibility (CSR) – this time shared with four-time victor Golden Land Real Estate Development Co., Ltd.</p> <p>SCW Development Group Ltd took home a pair of Design nods for Skysuites Luxury Condominium, whilst Mother Construction &amp; Greenhub (a subsidiary of LHN Limited) bagged the gongs for Best Serviced Apartment and Best Hotel Interior Design for the same project.</p> <p><strong>Expanded scope of recognition</strong></p> <p>The panel of judges introduced this year the Special Recognition in Customer Care award, presented to the tandem of City Properties Co., Ltd and Universal City Company Limited. The duo also received two Retail honours for their City Mall St. John project.</p> <p><img alt="One of the biggest winners of the evening, Golden Land Real Estate Development Co., Ltd., collecting the Special Recognition in CSR from Terry Blackburn, founder and managing director of the PropertyGuru Asia Property Awards" src="/documents/10204/0/MPA+2018_Special+Recognition+in+CSR.jpg/3b3828a6-6833-4f4c-bc56-8210c7a9cef1?t=1534229663459" /></p> <p>Best Renovated Property – previously dubbed a special award – is now a main category won by The Pegu Club, which was gloriously transformed by KT Club Development Project Co., Ltd<strong>.</strong></p> <p>The inaugural Best Developer winner from 2015, Yoma Strategic Holdings won the new Best Educational Development award for Dulwich College Yangon – Star City Campus.</p> <p><a href="http://property-report.com/detail/-/blogs/mottama-holdings-u-yang-ho-to-receive-myanmar-real-estate-personality-20-1" target="_blank"><strong>More: U Yang Ho named the 2018 Myanmar Real Estate Personality of the Year</strong></a></p> <p><strong>Highest levels of standards</strong></p> <p>Hari V. Krishnan, CEO of PropertyGuru Group, said: “We are proud to recognise all the winning and highly commended companies in Myanmar. The fact that the local real estate market has slowed down in activity in the past couple of years did not hinder these worthy developers from producing projects to the highest level of standards, whether they are new residential or commercial buildings, mixed-use, renovated property, and educational facilities. We celebrate their hard work and dedication to all types of consumers in the country.”</p> <p>Terry Blackburn, founder and managing director of the PropertyGuru Asia Property Awards, said: “The purpose of the Awards is to set a benchmark for recognising quality real estate in Asia. Healthy competition helps improve standards especially in a developing market like Myanmar. Whilst the local property market has undoubtedly had a challenging 24 months, we are pleased that we are once again able to come together to celebrate the best of Myanmar's real estate.”</p> <p>Top winners in Myanmar now qualify to compete at the PropertyGuru Asia Property Awards Grand Final to be held this November in Bangkok for a chance to be crowned the ‘Best in Asia.’</p> <p><img alt="Chairman of the judging panel Richard Emerson of Emerson Real Estate (Myanmar) poses with the Winners and Highly Commended companies at the end of the ceremonyt" src="/documents/10204/0/MPA+2018_Richard+Emerson.jpg/4c2bf19f-a672-4842-bb64-b6441becb30b?t=1534229666305" /></p> <p><strong>Tremendous support from the industry</strong></p> <p>The 2018 PropertyGuru Myanmar Property Awards gala dinner was the programme’s biggest yet, attended by around 370 guests and members of the media.</p> <p>The event was supported by co-sponsors Beko, Nippon Paint, Porcelanosa, Pro1Global Home Centre, and Sonder Living; official hotel Sedona Yangon; media partners Myanmar Insider, ShweProperty.com, iMyanmarHouse.com, and PropertyGuru Property Report; supporting associations European Chamber of Commerce Myanmar and British Chamber of Commerce Myanmar; official supplier LSM by LightSource; and official supervisor BDO Myanmar, part of the world’s fifth largest accounting and auditing firm.</p> <p>Richard Emerson (Managing Director, Emerson Real Estate) led the judging panel joined by: Andrew Moraes (Country Manager, Beca); Ben Hickson (Senior Associate, Stephenson Harwood LLP); Charm May Thu (Managing Director, Your Property Finder Company Ltd); Lee Leong Seng (General Manager/Managing Director, Surbana International Consultant (Myanmar) Co Ltd); Mark Horton (Designer, Doh Eain); Mya Myitzu (Creative Director, M.Interiors (M.ID) Design and Design Management); and Stephen Zawmoe Shwe (Principal Architect, SPINE Architects). The BDO supervising team consists of Joe Yew Chi Jee (Director, Advisory), with Hong Shi Ying (Senior Manager) and Nang Hnin Thet Htwe (Executive).</p> <p>For more information, email&nbsp;<a href="mailto:awards@propertyguru.com">awards@propertyguru.com</a>&nbsp;or visit the official website:&nbsp;<a href="http://www.asiapropertyawards.com/myanmar-property-awards/">AsiaPropertyAwards.com/myanmar-property-awards/</a></p>

<p><img alt="The Yangon City Hall in Myanmar is considered a fine example of syncretic Burmese architecture. Ungvari Attila/Shutterstock" src="/documents/10204/0/shutterstock_565212769-compressor.jpg/8e2741cd-5aa8-4ef5-aff4-4ddb8e310838?t=1533636791047" style="width: 1000px; height: 667px;" />With a large young populace, abundance of natural resources, and fast-growing economy, Myanmar has great potential to lead the shift in economic liberalisation from the west to east.</p> <p>But outmoded ownership laws and an inefficient bureaucracy have undermined foreign investors’ confidence in a frontier market otherwise freed of many junta-era economic sanctions.</p> <p>Last week the government implemented the Myanmar Companies Law 2017, indicating lawmakers’ earnest efforts to pump more foreign direct investment (FDI) into the economy. The new law, which replaces at long last the Companies Act of 1914, allows foreigners to hold an unprecedented stake of up to 35 percent in businesses.</p> <p>It also enshrines into law an online registry, Myanmar Companies Online (MyCO), seen by analysts to enormously streamline the registration process for companies.</p> <p>The policy marks a significant step forward for Myanmar as it seeks to modernise the business environment for both local and foreign real estate investors, said Richard Emerson, chairman of the <a href="http://www.asiapropertyawards.com/myanmar-property-awards/" target="_blank">2018 PropertyGuru Myanmar Property Awards</a>.</p> <p><a href="http://property-report.com/detail/-/blogs/policy-changes-could-trigger-a-new-era-for-myanmar-real-esta-4" target="_blank"><strong>More:&nbsp;Policy changes could trigger a new era for Myanmar real estate</strong></a></p> <p>“In a market which is currently starved of finance, the principal benefit of the law for the real estate sector will be that it creates a huge opportunity for Myanmar companies to raise finance from foreign investors,” said Emerson, who also serves as managing director of Yangon-based consultancy Emerson Real Estate.</p> <p>Luring FDI to Myanmar requires more than a simple truncation of bureaucratic procedures, however, and an acknowledgement of socio-political issues ailing the nation. The new law will saddle the bureaucracy with a “large burden” and cost the business community in the short to medium term, according to John Hancock, a Thailand-based consultant.</p> <p>&nbsp;“(The law) is an amalgam of the latest and most sophisticated laws now applicable in fully developed common law countries such as the UK and Australia, dropped into an ancient legislative, judicial and administrative environment,” Hancock told <a href="https://www.bangkokpost.com/business/news/1516586/clearing-a-path" target="_blank">Bangkok Post</a>.</p> <p>Myanmar requires additional reforms, not least in the finance sector. As it stands, the banking system does&nbsp;not adequately provide for real estate developers and investors.</p> <p>“Even when available, loans tend to be relatively small-scale and short-term, and borrowing rates are not attractive,” noted Emerson. “The Companies Law should enable alternative sources of funding to be secured, with more beneficial terms.”</p> <p><a href="http://property-report.com/detail/-/blogs/nominees-picked-for-the-2018-propertyguru-myanmar-property-awar-4" target="_blank"><strong>More:&nbsp;Nominees picked for the 2018 PropertyGuru Myanmar Property Awards</strong></a></p> <p>The government also needs to professionalise an administrative talent pool whose growth has been stunted by the decades-long shutdown of universities in the country. Many civil servants, accustomed to dealing with soldiers during the junta, are still getting used to working under a civilian administration.</p> <p>By its nature, real estate investment is a long-term commitment. Investors and developers demand certainty that their projects would stay resilient against legal and regulatory changes.</p> <p>“The main point here is that the government needs to be highly consistent in its approach to any laws and regulations which are to be implemented or changed,” Emerson said.&nbsp;</p> <p>“In an emerging market like Myanmar it is challenging enough to manage market risk, but dealing with constantly changing laws and regulations, and the random application of these adds significant risk to any project.”</p>

<p><img alt="Bangkok's BTS Skytrain. Khajonwit Somsri/Shutterstock" src="/documents/10204/0/shutterstock_535568788-compressor.jpg/a7b20572-fd0a-445f-bf02-053ecdb0f405?t=1533528102815" style="width: 1000px; height: 667px;" /></p> <p>High home prices and the current economic downturn have conspired to dampen consumer satisfaction with the real estate climate in Thailand, according to the latest survey by <a href="https://www.ddproperty.com" target="_blank">DDproperty</a>, the kingdom's leading property portal.</p> <p>DDproperty's Consumer Sentiment Survey&nbsp;revealed that most respondents perceived property prices in the first half of 2018 to be too expensive.</p> <p>The survey polling 1,000 respondents also found that most consumers want the government to issue new measures to support people in purchasing property and that the real estate market should keep an eye on the increasingly important Millennial demographic.</p> <p>The DDproperty Consumer Sentiment Survey H1 2018 found that 70 percent of the survey’s participants thought that current properties are expensive or overpriced. Sixty-one percent also thought that the economy is not performing well, leading to dissatisfaction with the Thai real estate climate.</p> <p>Due to such factors, real estate consumer satisfaction during the first half of 2018 dropped to 57 percent, down from 61 percent in the second half of 2017 and down from a high of 68 percent three years ago.</p> <p><a href="http://property-report.com/detail/-/blogs/real-estate-high-achievers-prepare-to-compete-at-propertyguru-thailand-property-awards-20-5" target="_blank"><strong>More:&nbsp;Real estate achievers to compete at PropertyGuru Thailand Property Awards 2018</strong></a></p> <p>With less purchasing power, 61 percent of those surveyed agreed that the government has not been doing enough to make housing affordable.</p> <p>Respondents suggested that the government should provide more support for home buyers by, first, regulating prices of newly launched properties by developers (69 percent); second, providing more subsidies to first-time home buyers (62 percent); and third, regulating supply of all property types (45 percent).</p> <p><img alt="" src="/documents/10204/0/infographic+snip.PNG/32f95bb0-a687-4321-8917-7fd97a96b107?t=1533528982266" /></p> <p>Eighty-three percent of consumers in the survey expect real estate prices to increase within one to five years. Forty-one percent are planning to buy a home within six months, up from 36 percent in the H2 2017 survey.</p> <p>“Pricing appears to be the main barrier to buying, especially for first-time buyers who are often new jobbers wanting to create a family but have low purchasing power,” said Kamolpat Swaengkit, country manager for DDproperty. These first-time buyers, however, will need to make purchase decisions soon as property prices continue to trend upwards which will make entry into the market even more difficult.”</p> <p><a href="http://property-report.com/detail/-/blogs/new-thailand-lease-laws-are-ruffling-landlords-feathe-8" target="_blank"><strong>More:&nbsp;New Thailand lease laws are ruffling landlords’ feathers</strong></a></p> <p>Thirty-six percent of respondents indicated that Outer Bangkok is their preferred location to purchase. Twenty-six percent intend to buy in the new Central Business District (CBD), which includes Ratchada, Ladprao, and Rama 9 areas, while 15 percent are interested in the Mid-Inner Sukhumvit area (Phrakanong, Onnut, and Udomsuk).</p> <p>In terms of property type, 58 percent said they are likely to purchase a single-detached house while 55 percent said they were likely to buy a condominium.</p> <p><img alt="DDProperty Country Manager Kamolpat Swaengkit introduces the Consumer Sentiment Survey" src="/documents/10204/0/DDproperty_Kamolpat_3-revised-compressor.jpg/0332f055-7e67-4854-bf08-b620eb42fd1d?t=1533293329577" /></p> <p>Ninety-five percent of respondents are looking to buy properties priced no higher than THB5 million (USD150,000), whereas 48 percent prefer a price of less than THB1 million.</p> <p>Thirty-five percent are looking at prices between THB2 million and THB3 million. The key factors that influence buyers’ decisions, aside from price, are location (95 percent); infrastructure and available amenities (69 percent); and safety and security of the local area (64 percent).</p> <h4>Millennials to become a significant real estate demographic</h4> <p>Millennials, defined as individuals between 18 and 34 years old, are expected to influence socio-economic change in the next 10 years, the survey found.</p> <p>Fifty percent of millennials are currently living with their parents. Of this group, the top reasons for not moving out include a desire to stay in the family home and take care of their parents; inadequate savings for buying their own home; and a preference to save their money over buying a property.</p> <p>Still, 45 percent of millennials living with their parents plan to move out by the age of 35, and around 65 percent already have a monthly savings strategy to help them buy their own property in the future.</p> <p><img alt="" src="/documents/10204/0/info-graphic-crop-compressor.jpg/56bfe392-998d-4625-9375-b503c84d52ac?t=1533529416300" /></p> <p>Most millennials’ budget for home purchases will be around THB1 million to THB4 million, according to Kamolpat Swaengkit.</p> <p>“Maybe real estate developers should consider catering more for this demographic and price bracket in the future,” she said.</p> <p>“A large number [of millennials] are already planning to move out and have a savings plan and are looking forward to a home of their own in the future."</p>

<p><img alt="The Megapolis and Western Development Minister Patali Champika Ranawaka delivering a keynote address at the 2018 PropertyGuru Asia Property Awards (Sri Lanka)" src="/documents/10204/0/minister-patali-at-apa-sri-lanka-compressor.jpeg/98d8dcda-ba39-4c6e-bbca-50f9233c649d?t=1533269675917" style="height: 666px; width: 1000px;" /></p> <p>As global arbiters of property investment veer their focus on a wealthier, post-war Sri Lanka, real estate developments are capitalising on the reinvigoration of its capital.</p> <p>Regeneration projects in Colombo’s depressed areas have earned the government plaudits at this year’s <a href="http://www.asiapropertyawards.com/sri-lanka-property-awards/" target="_blank">PropertyGuru Asia Property Awards (Sri Lanka)</a>, which was hosted in the country for the first time on 12 July.</p> <p>Although extreme poverty is on the wane in the island nation, extreme examples of it are still concentrated in geographical pockets, the World Bank noted. This has led government agencies like the Urban Development Authority (UDA) to lead efforts in giving the capital’s urban core a much-needed facelift.</p> <p>The UDA’s Urban Regeneration Project’s initial phase calls for the building of 30,000 low-cost homes, helping relocate and improve living conditions of 70,000 households in the city’s shantytowns.</p> <p><a href="http://www.property-report.com/detail/-/blogs/propertyguru-asia-property-awards-debuts-in-sri-lanka-to-honour-the-industry-s-tremendous-potenti-6" target="_blank"><strong>More:&nbsp;PropertyGuru Asia Property Awards debuts in Sri Lanka</strong></a></p> <p>It won the Special Recognition for Public Facility award, sharing the gong with the Ministry of Megapolis and Western Development led by Minister Patali Champika Ranawaka, who oversees the regeneration efforts, as well as the five-phase Beira Lake Intervention Area Development Plan that aims to eliminate informal settlements in the area.</p> <p>Beira Lake, a focal point of Colombo since colonial times, has a highly urbanised catchment of 448 hectares riddled with crude dwellers. But things are about to change.</p> <p>“In recent years we have seen this country move on from its troubled past and create a dynamic environment for businesses and investors,” the minister said. “We are working continuously to improve and enhance the conducive ambiance through the implementation of the Megapolis masterplan."</p> <p><iframe allow="autoplay; encrypted-media" allowfullscreen="" frameborder="0" height="365" src="https://www.youtube.com/embed/vhQnvz7E0v4" width="560"></iframe></p> <p>One of the first private companies to bank on the government’s plan is Indocean Developers (Pvt) Ltd, which is building its 68-storey lakefront, twin tower project Altair. Recipient of the Best Luxury Condo Development (Colombo) award, the <a href="http://www.property-report.com/detail/-/blogs/the-human-touch">Moshe Safdie-designed skyscrapers</a> are sited on a two-acre plot on the banks of Beira Lake, with plans to add a promenade with restaurants and leisure establishments,</p> <p>Another beneficiary of the programme is Sanken Group, winner of the award for Best Condo Interior Design for Capitol TwinPeaks. Once completed, the project will offer future residents views of the lake from its 50th-floor sky lounge.</p> <p>All in all, Sri Lanka has seen a tremendous boom in the property and infrastructure sectors after the civil war, noted Dr Nirmal de Silva, chairman of the Sri Lanka judges.</p> <p>“As we move towards a middle-income nation, the demand for quality housing, enhanced transportation infrastructure, the requirement for well-planned commercial and industrial hubs … are all going to be the norm rather than the exception,” de Silva said in a speech.</p>

<p><img alt="The Statue of Liberty in New York City. cla78/Shutterstock" src="/documents/10204/0/shutterstock_559729618-compressor.jpg/2d6910d3-bf3e-4441-890b-44edb038b939?t=1532057321531" style="width: 1000px; height: 666px;" />The United States’ standing on the global stage may be under threat, but when it comes to luring cash-rich Asian investors, cities across the nation continue to prove irresistible.</p> <p>There are a myriad of reasons why foreign buyers and recent immigrants bought USD153 billion worth of residential property in the US between April 2016 and March 2017, up a whopping 49 percent from 2016, according to a National Association of Realtors (NAR) survey last year.</p> <p>Here are just a few of them:</p> <h4><strong>1. Housing quality</strong></h4> <p>Properties in the US generally offer much larger living spaces, but are also built to higher standards and have modern trappings – garages, central heating, double-glazing, storage space, swimming pools, private gardens, and more – all of which look highly attractive to foreign property buyers.</p> <h4><strong>2. Investment security</strong></h4> <p>The option to own a property on a freehold basis is a major attraction to foreign investors.</p> <p><a href="http://property-report.com/detail/-/blogs/why-american-real-estate-is-still-a-star-attraction-for-asian-investo-5" target="_blank"><strong>More:&nbsp;Why American real estate is still a star attraction for Asian investors</strong></a></p> <h4><strong>3. Education opportunities</strong></h4> <p>Overseas education is held in high esteem globally, and the US is home to some of the top universities in the world, including Harvard and Stanford Universities and Massachusetts Institute of Technology. Elementary, middle school and high school places are also in high demand by Chinese parents.</p> <p><img alt="Africa Studio/Shutterstock" src="/documents/10204/0/shutterstock_1042667263-compressor.jpg/18de3efd-0886-47de-b297-cf596187f319?t=1532071887337" /></p> <h4>4. Visa availability</h4> <p>Its future is not guaranteed, but the US’s EB-5 programme has been a massively popular scheme for Asians in recent years. The scheme offers green card visas to foreign investors, so is both a structured path to citizenship and a route to investing in real estate.</p> <h4><strong>5. Lifestyle allure</strong></h4> <p>From dazzling nightlife to cultural attractions, luxury retail to nearby outdoor spaces, US cities and their environs offer many appealing characteristics.</p> <p><a href="http://property-report.com/detail/-/blogs/you-can-now-own-this-star-studded-american-estate-with-2m-in-landscaping" target="_blank"><strong>More:&nbsp;You can now own this star-studded American estate</strong></a></p> <h4><strong>6. Ease of access</strong></h4> <p>Asia has more direct flight connections to the US than ever before, including an increased amount of connections from China’s second-tier cities, such as Wuhan and Chengdu, and direct routes to China from cities including San Jose and Seattle.</p> <p><em>A version of this article originally appeared in <a href="https://www.magzter.com/TH/PropertyGuru-International-(Thailand)-Co.,Ltd/Property-Report/Business/266502" target="_blank">Issue No. 146 of PropertyGuru Property Report Magazine</a></em></p>