Real Estate Helps Drive Myanmar Growth

• 27 August 2016
• Local News
• 798 Views

Myanmar’s real estate sector is at the heart of 2016 economic growth projected to be the fastest in the Asia Pacific region.

The Asian Development Bank expects Myanmar’s economy to grow by 8.4 percent in 2016, thanks to a combination of political reforms and an easing of international sanctions which have seen an influx of international interest and investment to the nation.

The Directorate of Investments and Company Administration revealed that foreign direct investments reached USD9.4 billion over the past year, according to The Nation, with more than USD3 billion going to the real estate sector.

The ADB has however acknowledged that the economy is “narrowly based,” with growth dependent on “natural resource exports, construction, and tourism.”