Singapore's biggest real estate developer, Far East Organization, is shifting the focus of its promotions in Myanmar from residential to commercial spaces.
At a property and sales exhibition, held August 17-18 at Yangon’s Parkroyal Hotel – its 14th in Myanmar since 2010 – the company pitched Singapore as a good match for Myanmar property investors looking for business properties.
“In the past, we mostly brought residential projects, but this time we’ve chosen projects preferred by Myanmar buyers, like commercial warehouses … and office space,” said Ko Kyaw Min Zin, team leader for Myanmar sales. Properties in the six projects being promoted ranged from S$1.7 million (US$1.34 million) to S$5 million.
Since 1960 Far East Organization has built more than 1000 high-end condo projects in Singapore. The seminar was co-organised with two other Singapore-based agencies, Rock Estate Management and Maverick Estate Company.
The property and sales exhibition follows a July exhibition where three Wing Tai Singapore condominium projects were showcased in Yangon by the ERA real estate agency. The residential property event featured three Singapore properties – L’Viv, Foresque and Helios Residences – and financial advice was provided to interested property buyers and investors by representatives from UOB Singapore.