Passing Of Condominium Regulations

In December 2017, the Ministry of Construction passed the much anticipated Condominium Rules under notification No. 267/2017 (the "Condo Rules"), almost two years following the enactment of the Condominium Law (2016) (the "Condo Law"). With investment in Myanmar's condominium market slowing considerably over the last year, the introduction of the Condo Rules reflects the Myanmar government's continued recognition of the need for a robust framework in the sector to encourage continued foreign and domestic investment and has been the source of much discussion in the real estate sector in Myanmar.

Condo Law: A recap

With its enactment in January 2016, the Condo Law prescribed a broad framework for condominium investment in Myanmar. This framework included: