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An artist's impression of the Kris Plaza set for construction in Nay Pyi Taw. Photo: Yoma Strategic
An artist's impression of the Kris Plaza set for construction in Nay Pyi Taw. Photo: Yoma Strategic

Kris Plaza is a new US$24 million residential and commercial development ready for construction in Nay Pyi Taw and now open for sales, according to a press release from Yoma Strategic on February 18.

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Yangon Heritage Trust Chairman Thant Myint-U (R) with visiting US President Barack Obama in the grounds of the old Secretariat building in Yangon, November 14, 2014. Photo: Thant Myint-U/Facebook
Yangon Heritage Trust Chairman Thant Myint-U (R) with visiting US President Barack Obama in the grounds of the old Secretariat building in Yangon, November 14, 2014. Photo: Thant Myint-U/Facebook

The chairman of the Yangon Heritage Trust says he is shocked by how close planned 12-story building projects are to the landmark Shwedagon Pagoda, adding the recent decision to put major property developments on hold while plans are checked is a “step forward for proper urban planning.”

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The Yangon Region Work Project Scrutiny Committee and management committees of industrial zones are working together to expose entrepreneurs who have not officially declared their industries in the industrial zones, representatives of the businesses community told Mizzima on December 5.

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Myanmar’s rice volatility is the highest among net rice exporting countries in Asia, preventing rice farmers from earning high profits and keeping many families at or close to the poverty line, according to the World Bank.

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The supply of high-end apartments in Yangon will almost quadruple by 2017, albeit from a low base, with more than 10,000 new apartments in luxury condominium towers going on the market. The supply rush will start slowly with a total of about 1,100 new condominium units being completed in the second half of this year and about 1,200 units due for completion in 2015.

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More than 80 percent of Yangon’s 7 million inhabitants do not have a bank account, according to a two-month survey carried out by Yangon-based Thura Swiss research and consultancy company.

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