Colliers Lays Foundations in Yangon

Leading commercial real estate firm, Colliers International, is opening an office in Yangon, becoming the first international real estate services company in the country.

“Colliers is the first global real estate services firm to enter the Myanmar real estate market,” said Piers Brunner, CEO, Asia, Colliers International.

In a statement released by the company, it announced its local team will work in tandem with more than 2,500 specialists in the region to support businesses that wish to establish a presence in the country through property investment or by setting up an office or residence.

Brunner added: “We see huge potential in the country, with many of our clients seeking new opportunities in what is arguably the last major frontier market in the region. It’s important for us to have the operation in place in order to assist our clients as they expand their business or real estate portfolio in Myanmar.”

Rentals for office space now exceed the US$100 per square metre per month barrier, making them among the highest in South East Asia. The cost of Yangon office space now rivals that of Hong Kong and Singapore. Quality apartments are hard to find and hotel rates...