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Foreigner are allowed as developer in Myanmar Condominium law

Myanmar real estate news The government allowed the foreigner as developer in Condominium law which released for condominium building called as a combine building for re-active in constructional market which is down,” said responsive person.

“The rules, which were signed by the Union Minister for Construction on December 7, will be published soon,” said Daw Moe Thida, Deputy Director from the Department of Urban and Housing Development (DUHD), on 14 December at addressing of new condominium law.

Construction employer are expected the Condominium law soon to be published but it was late published since it can be a strength to become active in real estate market. After published also continually waiting for new condo law. And now the new law was completely published and the above facts were also added in the law.

“Although the foreigners are allowed as developer but not as developer of land,” said Daw Moe Thida. Although he is allowed as developer but he have to work together with the citizen.