Asia

Myanmar: dawning of a new era?

Myanmar’s first freely elected parliament in 50 years opened earlier this month. Will the transformation of the country’s political landscape herald new opportunities for its real estate market?


 

It was the development opportunity of a lifetime. At a site just a stone’s throw from Myanmar’s iconic golden Shwedagon Pagoda in Yangon, permission was given by the Myanmar Investment Commission in March 2014 for a 17-acre, $300m (£207m) luxury development.

Marga Landmark, the joint-venture developer behind the scheme – made up of companies from Hong Kong, South Korea and the UK – busily prepared to break ground. Then, everything changed. A…

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