{"id":3737,"date":"2019-07-26T08:48:04","date_gmt":"2019-07-26T08:48:04","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=3737"},"modified":"2021-06-04T14:34:21","modified_gmt":"2021-06-04T07:34:21","slug":"mandalay-still-an-opportune-site-for-condo-retail-development","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/mandalay-still-an-opportune-site-for-condo-retail-development\/","title":{"rendered":"Mandalay still an opportune site for condo, retail development"},"content":{"rendered":"<p>Historic Myanmar city is ready for modern shopping centres and apartments at the right price points<\/p>\n<figure id=\"attachment_3738\" aria-describedby=\"caption-attachment-3738\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-3738\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/07\/shutterstock_1459300214.jpg\" alt=\"\" width=\"1000\" height=\"660\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/07\/shutterstock_1459300214.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/07\/shutterstock_1459300214-300x198.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/07\/shutterstock_1459300214-768x507.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-3738\" class=\"wp-caption-text\">Twilight over Irrawaddy river in Mandalay. eFesenko\/Shutterstock<\/figcaption><\/figure>\n<p>Large land parcels in Mandalay have great potential for condominium developments and modern retail projects, according to <a href=\"https:\/\/www.retalkasia.com\/news\/2019\/07\/25\/mandalay-city-continues-be-promising-investment-destination-colliers-myanmar\" target=\"_blank\" rel=\"noopener noreferrer\">Colliers International Myanmar analysts<\/a>.<\/p>\n<p>The selling price of condominiums in Myanmar\u2019s former royal capital has already hit USD1,023 per square metre on average at the end of 2018, with cumulative take-up rate estimated at 74 percent, reported Karlo Porbre, the consultancy\u2019s managing director.<\/p>\n<p>Meanwhile, retail stock in the city jumped 9.3 percent year-on-year in 2018. However, the city still has a paucity of projects combining residential and retail components.<\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/the-birthplace-of-the-pegu-club-cocktail-opens-its-doors-once-more\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: The birthplace of the Pegu Club cocktail opens its doors once more<\/strong><\/a><\/p>\n<p>\u201cWe see more demand for newly planned residential and business districts involving low and mid-rise buildings,\u201d Pobre said. \u201cThe value proposition should be geared towards integrating quality facilities alongside retail components, a concept yet to materialise in Mandalay.\u201d<\/p>\n<p>Hospitality has been on the upswing in the city, with the number of hotel rooms surging eight percent annually in 2018. Approximately 218,901 visitors arrived in Mandalay in the first half of 2019, around 90,000 of whom consisted of Chinese, according to official figures.<\/p>\n<p>Hpone Myint Thu, assistant research manager at Colliers International Myanmar, urged hoteliers to adjust the rates or push for differentiation in both services and offerings that are geared towards the rising number of Asian visitors.<\/p>\n<p>\u201cMoving forward, we recommend for investors to consider exploring business on industrial activities, while residential developments must be geared towards competitively priced low-rise apartments or landed residential communities,\u201d he stated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Historic Myanmar city is ready for modern shopping centres and apartments at the right price points<\/p>\n","protected":false},"author":8,"featured_media":20201,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[344,193],"class_list":["post-3737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-mandalay","tag-myanmar","news_country-myanmar","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mandalay still an opportune site for condo, retail development | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/mandalay-still-an-opportune-site-for-condo-retail-development\/\" \/>\n<meta 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