Myanmar / Sin Heng

Myanmar / Sin Heng: Minister for construction has extended an invitation to SG firms keen on developing hotels, serviced apartments and even high-end condominiums in the country, as it steps up its urban redevelopment. Add that Myanmar is on the hunt for partners with the expertise to help the country develop a comprehensive urban development plan, and legal and financial framework to promote home ownership and investments in the real estate sector. It is also keen to work with firms that can help it to build satellite cities and low-cost housing. The minister also said that Myanmar is open to foreign investment in real estate and property development, and welcomes projects such as hotels, serviced apartments and housing ranging from high-end condominiums to low-cost projects. We note that news could be positive for Sin Heng, which has been eyeing Myanmar’s construction industry. Grp has been expanding overseas, and has spent the last few yrs, laying the groundwork in Msia and Vietnam. Recently in an interview, grp note that Myanmar is like SG in the 1960s and infrastructures, particularly its ports, need substantial improvement and has recently formed a new subsidiary with Star high Asia Pacific, a SG Co. owned by the well connected family of Myanmar natives Si Thu Phyo.