2014, 10.26 ‘Condominiums not covered by Condo Law Search thie website r ‘You are hte ome Latest News Condominiums ot covery Condo Law Get your busines up inf month! MYANMAR: COMPANY: INCORPORATION. FROM, US§999, Condominiums not covered by Condo Law UNE 2, 20147 THA Wasting your time in Myanmar? AUSINESS PARTNER SEARCH. Role of Central vs State Govt? SERUIGE FROM USS89 VIDEO; DOING BUSINESS, eee coho ovey? UNC MYANMAR: 7750: ees: Expression of Interest a it happens. Role of Central vs State Govt? ‘Nearly all of Yangon’s recently constructed “condominiums* may not qualfy as condominiums VIDEO: DOING BUSINESS, un the dat Condominium Law, according to Yangon Cty Development Conlon IW AYANMAR: enginering deputy crctor U Noy Wn rresetioarsn amet tn tars ce tat rae taacnctacageucatenane nena pereaang cee yA NAMR leased tan. “Under the condominium law, residents must be proportional owners of their land,” said U Nay ‘Win. "But most residents ofthe condos don't own the land, just the rooms. We cannot regara VIDEO: MYANMAR: ‘them all as condos.” COMPANY INCORPORATION, U Nay Win said “condominium” is often being used as a catch-all term for a high-rise with large rooms, and buildings with this label generally do not meet the legal definition. CATEGORIES “People think these bulldings willbe included inthe law, but they are not” he said, “No recent Festred Stoves @) buildings have folowed the condominium la.” Latest Nows (1,874) Most so-called “condominiums” have b 7 bull on leased government or YCDC land, meaning “Tenders & Awards (198) ‘owners of condo apartments do not own the land it sits on. Condo owners can face other diffcultes if the bulaing on leased land, ts China getting too expensive? ‘An ageing baling nat needs ob or cow and rebiton ens nd Wo resive LOW cost suomi approval to go ahead New sucuresin Yangon requre YCOC approval which may MANUFACTURING not be granted ithe property owner objects. “If they dont get approval from the owner, they don't get permission from YCDC,” city officals told The Myanmar Times, ‘ila D:%GEBYLAFUBBKEC 96%, 80%EBYAT8S7,20%KEC %ADILOSEBKES]CBAICondomiriums%20naZOcovered2Oby%20Condo%2OLaw.Himl 1/82014.10.26 ‘Condominiums not covered by Condo Law Disputes between the landowner and developer and residents can also occur, a8 well as the requirement to pay forthe lease, the offal said Myanmar Construction Entrepreneurs Assocation vice president U Tha Aye said developers \want the condominium law to cover those in a building on leased fan. |dontiying the ference between owned and leased land can be dificult or residents, he sald Fe added it was beter to purchase a condo located on owned land, but there are relatively few ‘of these in Yangon, Myanmar Real Eslato Service Association (MRESA) general secretary Daw Moh Moh Aung said that developers should be candid about the type of land the building sits on particularly when foreign Investment in condos materialise. U Nay Win sad the draft laws submited tothe Pyithu Hluttaw alo foreigners to own 8 maximum of 40 percent ofa builing that fs over four stories. Daw Moh Moh Aung said many of Yangon's buildings wore constructed under bult-operate- ‘vansfer terms, wt an inal lease of 60 years than can be extended twice by 10 years each ‘ome. ‘Source: Myanmar Times Learn about the Office Rental and Service fice Market in Yangon at The State of Service fice Business in Yangon Get your business up in 1 month! MYANMAR COMPANY, NGORBORATION, FRGM USS99% Contact us for a fl 1S YOUR PROJECT earthquake? all risk insurance quote [andslide? ee fo the contract 2 Latest News Myanmar Trade Snow, Exhibition & Conference Calendar fr the month of November & December 2014 Myanma Timber Entorpriso to invite opan tender for Teak Logs & Conversion; Closing Date: October 24th, 2014 Myanma Oil And Gas Enterprise to Invite Open Tender (18/2044); Closing Date: November 12nd, 2014, Polse ofthe future: plot trading program begins ‘Thailand, Myanmar to twin provinces [GENERAL SECRETARY, MESA Can | owned it 100% as 2 foreigner? MARKET, ENTRY: STRATEGY Competitors nodes Operon? Signing lease with a bogus property owner? QUE DILIGENCE Need an Invitation Letter? BUSINESS VISA? Download Myanmar Map & Yangon Ciy Map to your computer Our ocation in downtown Yangon: Lapmadaw Township 1 “osesate wertonan Geog eho Inf a) consutenyanmar com ‘ilaD CEB AFUBBKLEC 95%, 0%EBYAT887,20%EC %ADI,O5 BBS). B4Condomiriums%420naZ0covered20by%20Condo%20L au Him 20Condominiums net cavered ty Condo Law 2014, 10.26 SOME OF OUR CLIENTS: Raf Educati Pay Eminence y CSA Ge C2 SE DAYIA AGP ARCHITECTURE . Si mnsiassane a maxflo Secotrade HunterDouaas 2 / SMART OMNI D witiin S28 oom. ASSIST. le KIRNCROFT NVIALITE’ STIHL meen ecets Malaysia aaa @agee GP FourH Group gp Winithorn ‘ileID:MGEBTEAPWBBKECY. OEY AOWEBYATIEB7.207CEC %ADI9STEBKESI:EAICondomiriums'20natsZOcavered20by%20Condo%:20Law.tim! 18