Dawei commitment opens door to real estate boom

The real estate market in Tavoy is booming since Burmese President Thein Sein and Thai Premier Yingluck Shinawatra visited the Dawei Special Economic Zone (SEZ) earlier this month, local realtors say.

“There is a fresh market demand on real estate located on the side of the Kamyawkin Road at the entrance to the town,” said real estate agent Soe Thein, speaking of Tavoy, officially known as Dawei, a town with a population of some 150,000 located on the Andaman coast in Burma’s southern region of Tenasserim Division.

Land for building houses in the area is being divided into 40 x 60-foot plots, 40 x 80-foot plots, and 60 x 80-foot plots, he said. Ironically, on the opposite side of the Kamyawkin Road stands the Housing Ministry. The plots were reportedly allocated back in 1990 when demand first arose over rumours that the Dawei Deep-Sea Port would be built as part of a massive industrial SEZ.

“In 2010, these plots were worth between 10 million and 20 million kyat [US $11,750 - $23,500 at today’s rates],” said Soe Thein. “But investors from Yangon, Myawaddy, Naypyitaw and the China-Shweli region have suddenly come down to buy land. The prices of the plots have now increased to up to 200 million kyat [$235,000].”

source: Mizzima
http://www.mizzima.com/business/8646-dawei-commitment-opens-door-to-real-estate-boom.html