Myo Zaw: I am a Part of Myanmar’s Business Future

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Picture source: Courtesy of Zayar Properties

I came back to Yangon after my university years in Australia in 2008 to join my family businesses (as a typical Myanmar-raised person). But after I got back to Yangon, I realized that the country was opening to the rest of the world and about to start promoting foreign investments and cross border trades.

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Picture sources: Courtesy of Zayar Properties

From then on, I took about two years exploring a perfect business opportunity for next a few decades. Myanmar has been a closed economy for the last 60 years and investment opportunities were limited. The public did not trust in banks since the Banking Crisis. Therefore, the only way people put their money is in real estate.

At the same time, Myanmar was a Cash Economy, and all the real estate transactions were 100% cash backed (no mortgage available). So, all the assets owners were not under pressure to sell their properties even if their businesses (or employment) was in a down curve. It made the real estate price “stubborn” and Yangon properties became one of the highest in Southeast Asia. Not only because of the nature of the economy in Myanmar itself, but also it was lifting its trade barriers and opening opportunities to international markets.

No matter which industry is going to boom in Myanmar (regardless of Myanmar’s National Economic Policy), any development in the economy will require more properties for homes, offices, and retail properties (as a result of stronger economic activities). It made me realize that the best way to invest is in Real Estate. Since then, I stepped out of my family’s traditional businesses and started to advise, manage investments, and develop residential apartments.

Three years ago was the best time when we experienced a boom in Real Estate properties. Now the market is a bit slow compared to the past, but still, we are doing at about IRR 29% to 44% p.a. depending on project type and location.

Zayar Properties (CBN-MM000000099) is offering an opportunity to the public to invest and also it is driving a good circulation of cash in the economy. And also, our construction works created hundreds of employment and looking forward to increase the number in following years. I also experienced that there were several trade businesses and sub-contract startups developed right after our projects. I was very grateful to see new restaurants, bars, tea-shop, and snack shops opened in the community while there was also construction works in progress. The shops have become an established business in 2 years after our construction works were completed. I believe that this is how local businesses grow in time.

Faces Behind ASEAN SMEs by Confirmis

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For more stories, visit www.facesofsme.com

Editor’s Note: The article is Myo Zaw’s full-narrative.

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