Thursday, October 4, 2012

91. UPDATE Oct 5, 2012. Travel and tours to Myanmar

Oct 5, 2012

Please note that Myanmar is extremely popular with tourists and business people from Singapore and other parts of the world nowadays as compared to two years ago.

Landlords and hotel operators no longer need to worry about the lack of tenants or guests. Now, landlords of offices will rent only for one-year lease and get the full yearly payment in advance.

Here are the real cases of the economic and tourism boom

1. An office space of 3500 sq ft in prime Yangon location has been rented at US$80,000 per year. 8 serviced offices are available for business people.  Another landlord wants S$6,600/month for a 1700 sq ft office.

2. A Myanmar resident told me her bungalow of 4400 sq ft in a good area can sell for around $440,000. This is $1,000/sq. ft. She had a person from Singapore and Malaysia keen on developing hotels and is looking for land owners to do joint venture. If she builds her hotel, the construction cost is said to be around $700,000 for a 50-room 6-storey hotel. There are more foreign investors and developers than there are local residents to joint-venture. Some want to set up construction worker training schools with locals. Others want to start businesses.

In this situation, prospective tourists need to plan ahead if they want to tour Myanmar. In Singapore, tour agencies can take 50% of the cost and then wait 2 months later to take the balance. However, for Myanmar, hotels do not reserve the rooms 2 months in advance without any deposit. So, it is best to buy travel insurance and plan ahead. Singaporeans need visas to travel to Myanmar and this takes around seven working days.

Pl e-mail or tel +65 9668 6468 for more info.  

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