Renovation Projects in Downtown Yangon

Renovating and conserving heritage spaces in downtown Yangon owned by local residents to improve the living conditions.

By

Doh Eain (“Our Home”)

Click here to learn more about the Impact Organisation

This is member exclusive
content. Click here to unlock

Social causes

SDGs covered

Endorsed by

Anthem Asia Limited

Anthem Asia is an independent investment and advisory business based in Myanmar investing in job creation in the business and consumer services sector.

Market of Implementation

  • Myanmar

Problem

Yangon is currently undergoing a construction boom that leads to the destruction of undervalued and under-utilized unique city elements, for which authorities, home owners and residents lack opportunities to unlock their financial and social value.

Solution

There are three related developments that lead towards our solution:
1) Demolition/new build is slowly becoming more difficult for land owners – Thanks to the efforts of a number of stakeholders , including the Yangon City Development Committee (YCDC) Planning Department and the Yangon Heritage Trust (YHT) as well as a number of international donors and NGOs, there is increased awareness of the uniqueness of Yangon city. YCDC and the YHT have made progress in the past two years in articulating a development vision for Yangon’s historic core, creating a list of ‘protected’ heritage buildings and halting demolition of a number of buildings.
2) Majority of current downtown residents prefer to keep the old buildings – A 2015 survey in three downtown pilot areas suggests that 67% of current residents would prefer to stay and upgrade their current unit rather than move to a new building at the same location. Reasons are family history, more space and sturdy structures.
3) Sufficient heritage appreciation to attract premia - Awareness of the uniqueness and value of Yangon’s heritage is growing among its residents, tourists, expats and other external parties. As such, there is a solid context and demonstrated demand for refurbished heritage apartments and buildings to make a value proposition of interest both to local home owners and external investors. Therefore, Doh Eain will provides three types of services:
• Advisory services on better and/or more profitable use of properties/spaces
• Actual design and renovation works
• Property management, i.e. support with subsequent leasing out or use of a property or space

Unlock this content

This is member exclusive content. Become an AVPN member and unlock more insightful content.

Stay updated. Sign up for the #1 newsletter on social investment in Asia.

This field is for validation purposes and should be left unchanged.

©2021 Asian Venture Philanthropy Network | AVPN is registered in Singapore as a charity (UEN 201016116M)