Thai property developer eyes Myanmar for next investment project

Ananda Development’s planned expansion into Myanmar will also open up partnerships with local providers

Yangon, Myanmar. f11photo/Shutterstock

Thai property developer Ananda Development Public Co Ltd is currently exploring different avenues to invest in Myanmar, primarily focusing on urban projects and looking into possible local partners, officials notified The Myanmar Times and other local journalists.

According to chief executive of Ananda Development Chanond Ruangkritya, the company’s plan to improve living standards in Myanmar by developing high-quality housing and urban projects connected to the primary transport systems would be deemed as an attractive opportunity for potential investors and partners.

On the other hand, the company also wants to encourage more investors from Myanmar to consider the Thai property market.

“Bangkok is one of the most attractive cities in Asia for foreign investors and one of the reasons is its successful urban living system, which can be achieved only if it has efficient transportation for residents to live and to work,” shared Chanond.

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He explained that Ananda Development’s local condominium projects are connected to the Bangkok Mass Transit Systems, which is highly appealing for foreign buyers.

Statistics from local agents reveal that Singapore properties are in high demand from Myanmar investors, followed by Thailand. This is mainly because Myanmar residents and other foreign investors will have financial assistance from Thai banks, enabling them to apply for bank loans to buy local properties. Moreover, Myanmar residents find Thailand easily accessible and consider their education and healthcare system as viable options.