Myanmar real estate news

Nominations start for Myanmar property awards

Myanmar real estate news The Asia Property Awards (APA) will hold its third annual Myanmar awards ceremony in June next year, with the window now open for people to nominate their favourite hotels, renovation projects and real estate personality.

Terry Blackburn, founder and managing director the APA said the Myanmar ceremony will take place in the Sule Shangri-La hotel, with winners eligible to compete in the annual Asia-wide property awards to be held in Singapore later that year.

“Nominations for the 2017 awards are open for all developers and the public with a deadline for submission of April 21,” he said. “The official shortlist will be revealed by an independent judging panel in the final week of May.”

Myanmar’s property industry could use some cheering up. The market has been sluggish for two years or so, and a haphazard government investigation into high-rise projects this year has, along with a slump in the value of the kyat against the US dollar, made it an especially unpleasant year to be a construction firm or real estate developer.

But Mr Blackburn is focusing on the positives, Myanmar is an Asian frontier market “with a rapidly growing economy that is poised to exceed expectations in 2017,” he said. The IMF projects full-year growth of 6.5 percent for Myanmar in 2016.

APA is also hoping to see more entries for the 2016 Myanmar awards, after 76 entities nominated in the 2016 competition, Mr Blackburn said. Voting and nomination can be done online at the APA website, he added.

There are over 20 prizes up for grabs this year, including best developer, best commercial development and best renovated property.

Quoted from mmtimes.