Any attempt to make Yangon a smart city should be underpinned by the area south of Yangon River, according to Colliers International.

The comments come in response to Region Chief Minister U Phyo Min Thein, who the Myanmar Times reports used the 10th anniversary of Barcamp Yangon to outline the government's plan to make the city more liveable.

According to the Times, Mr Thein said the government was "aiming to make all things more affordable for people in the city and make it a green, liveable commercial city that embraces its urban heritage".

Colliers International believes the area south of Yangon River offered the ideal starting point for this process.

"With the construction of Dala Bridge project expected to start in coming three months, opportunities are arising on the southern side of the Yangon River," it said.

"Geographically, the area has high potential for industrial, logistics, ports, and tourism businesses, but has been underused, has largely been unexplored in part due to difficulties in transportation."

The global real estate firm cited Lakkhokkon Beach as an example of an area of investment potential that is largely unfrequented.

"After the completion of the bridge, there is a high chance of the place becoming a new area of interest for future investments," it said.

"The government should encourage the development to take place by finding ways to clear the obstacles, such as to have sufficient electrical supply, new or better transportation routes, skilled workforce, and convenient policies."

Source: Colliers International, Myanmar Times

This article was previously published on The Mingalar Real Estate Conversation

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