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Colliers lays foundations in Yangon

http://www.mizzima.com/business/investment/9700-colliers-lays-foundations-in-yangon

Leading commercial real estate firm, Colliers International, is opening an office in Yangon, becoming the first international real estate services company in the country.

“Colliers is the first global real estate services firm to enter the Myanmar real estate market,” said Piers Brunner, CEO, Asia, Colliers International.

In a statement released by the company, it announced its local team will work in tandem with more than 2,500 specialists in the region to support businesses that wish to establish a presence in the country through property investment or by setting up an office or residence.

Brunner added: “We see huge potential in the country, with many of our clients seeking new opportunities in what is arguably the last major frontier market in the region. It’s important for us to have the operation in place in order to assist our clients as they expand their business or real estate portfolio in Myanmar.”

Rentals for office space now exceed the US$100 per square metre per month barrier, making them among the highest in South East Asia. The cost of Yangon office space now rivals that of Hong Kong and Singapore. Quality apartments are hard to find and hotel rates are increasing by the day.

Former Head of Research at Colliers Thailand, Tony Picon, has been appointed Managing Director of Colliers in Myanmar.

According to Brunner: “He has the knowledge and expertise to help our clients understand the country’s increasingly complex property market.

"We are bullish about the prospects for those who wish to be part of the Myanmar growth story. Yet, like any frontier market, everybody must be prepared for some difficulties when they start to operate here," said Picon.

He added: “One of my primary objectives is to nurture the capacity of the local people. Colliers’ extensive training programmes, such as Colliers University, will help ensure our local staff are well-equipped to deliver quality services and operate to international standards.”

Headquartered in Seattle, USA, Colliers International currently has 482 offices in 62 countries worldwide, and a revenue of some US$2 billion per annum.
 

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Yangon office for Savills

http://www.mmtimes.com/index.php/business/property-news/9111-yangon-office-for-savills.html

Hong Kong-based Savills real estate firm opened an office in Yangon on December 16 to join in the continuing boom in land and property prices here.

Richard Emerson, country manager of Savills Myanmar, said, “Our team in Yangon has already taken instructions across a variety of brokerage disciplines, including office and retail leasing, development feasibilities, market research, valuations and investment brokerage.”

Office rents in Yangon have risen by 80 percent during the past year, while five-star hotel room rates increased by 70pc, according to data by Savills.

Serviced apartment rents, meanwhile, have risen by 50pc and quality retail rents by 10pc, according to the same data.

Neil MacGregor, managing director of Savills Vietnam, said Myanmar real estate was a hot topic among investors and developers from Hong Kong, Japan and Taiwan, and would remain so for years to come.
 

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This one that makes myanmar to became powerful compared to other Asian Countries, thai and philippines were getting richer.. i hope myanmar did same too
 
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