Colliers International Myanmar had a networking event titled, “Frontier Market: Enhancing Property Values” at Sule Shangri-La Hotel last May 31, 2019. The attendees present include the representatives from the press, Yangon City Development Committee (YCDC), and major developers such as Sae Paing, Yangon Golden Paragon, Mottama Holdings, Yoma Land, Capital Diamond Star Group, Inno Group and Golden Land Real Estate Development.

The event began with the opening remark by the Managing Director of Colliers International Myanmar, Mr. Karlo Pobre. This was then followed by a presentation on the overview of Yangon Property Market led by the Assistant Manager of Valuation Services, Ms. Joan Mae Lee. Ms. Marissa Benitez, the guest speaker and Colliers’ RICS Valuer, later started the discussion by elaborating as to how valuation is not only an essential marketing tool for investors, but also how vital it is in seeking financing opportunities for accelerating growth and development.

Ms. Benitez touch based on the land and valuation trends present in the country. Specifically, she described how international standard valuation is becoming a growing requirement in Myanmar. She similarly explained the strengths, opportunities, and challenges present in the property sector. “Government-initiated conferences and training on international real estate best practices would be one of fundamental initiatives for this market. Introducing educational courses on real estate professions with emphasis on on-the-job training would similarly be ideal,” said Ms. Benitez. She also mentioned that the government intervention is needed to have sound and reliable market information, especially market transactions data. Ms. Benitez concluded the discussion by adding: “Nurturing local capability and transfer of knowledge through thorough regulation of the practice is really deemed vital.”

Colliers International currently has more than 2 billion square feet of properties under its management, and is the only global real estate services and investment management company in Myanmar. With the team of over 30 skilled foreign and local professionals, the company provides a wide range of services in the country for both international and local clients in all real estate sectors.

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