Construction in Myanmar
Myanmar has seen a renaissance in construction work due to both the economic liberalisation that is happening in the country as well as the necessity of infrastructure growth.
All new construction must follow the construction rules set in place by the Myanmar Government. Every new building in the Yangon city area needs approval from the Yangon City Development Committee before beginning construction. Construction should be completed in one year. However, if not, then extensions of five years at a time can be applied for. For high rise buildings above 62 feet or above 4 stories, an elevator is required to be built. For other cities, permission is also needed from the relevant city council. Myanmar’s new building code is still pending finalisation and will put added focus on construction methods to protect against cyclones (such as the recent cyclone Nargis) and earthquakes.
For Myanmar as whole, the construction industryis growing at an exponential rate with a CAGR of 20%.