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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.
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