Thailand’s CP Land to invest in Yangon Property, Bangkok Airways promotes Myanmar’s market and Thai

CP Land Plc, the property arm of agribusiness conglomerate Charoen Pokphand Group, plans to spend 500 million baht this year to take over and office building in Yangon, according to the Bangkok Post. Vice-president Naravadee Waravanitcha said early in 2015 that soaring demand for office space in Yangon had prompted the company to invest in Myanmar capital of commercial.

Office rents per month in Yangon are as high as 2400 baht for a square metre, more than double the maximum rate for Bangkok’s Grade-A office space, she said.

Webeliever our investment will break even within five years. CP land will sign an agreement to buy an eight-storey office building from a local owner. CP land also wants to draw Foreigners to invest in Thailand including Chinese firms interested in joint ventures for construction or industrial estate development.

The company is developing six office building in Udon Thani, Surat Thani, Nakhon Si Thannarat, Songkhla, Nakhon Ratchasima and Bangkok. Currently, the Myanmar property market was slow due to a surge of construction projects and other unfavorable conditions. Demand for office expected to rise by the time the Asean Economic Community (AEC) launches, according to a survey conducted by House.com.mm.

The AEC is scheduled to launch at the end of this year in order to create a free trade zone in Asean. Yangon has a total area of 107,000 square metres of office space for commercial use, which is the lowest area among Asean capitals

Thailand based Bangkok Airways has extended its promotion to Myanmar market with a program titled "Fly me to the beach". The package includes a round-trip airfare from Yangon to Phuket and Krabi via Bangkok.

It charged US$ 395 for its route from Yangon to Phuket, US$ 410 from Mandalay to Phuket, US$ 385 Yangon to Krabi and US$ 100 Mandalay to Krabi. The price does not include airport tax and insurance. Travelers can visit to world’s most beautiful islands, Phi Phi where the famous movie "The Beach" starred by Leonardo DiCaprio, Chalong temple and Promthep Cap was shot. The airline began its operation in Myanmar in 2013. It flies Bangkok-Mandalay-Naypyitaw_Yangon three or four times a day now.

An international conference on Myanmar was held in Chaing Mai University in Thailand on July 24-26, 2016. The conference titled "Myanmar in transition: Connectivity, Changes and Challenges" was initiated by the Chaing Mai University and aimed at scholars from Myanmar and Thailand to exchange knowledge on history, economy, culture, agricultural and environmental transformation, language, literature reform as well as education in Myanmar and politics. It also aimed towards a better understanding about Myanmar transition on peace and democratization, economic reforms and ethnic politics.

The Heinrich Boll Foundation, ICCO (Southeast Asia), Euro-Burma Office, Center for Research and Academic Services – Faculty of Social Sciences, CMU and Bank of Thailand – Northern Branch supported the conference.

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