Real estate

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Real estate

  1. 1. Myanmar | One Giant Leap for Real Estate Tony Picon | Associate Director | Colliers International ThailandNew Myanmar Investment Summit 2012 – PARKROYAL, Yangon
  2. 2. Map of Yangon | How we zone the city Outside Yangon City 2 Thilawa Port 25 km
  3. 3. NO VACANCIES – Hospitality Challenges
  4. 4. Hotel market | Crunch time SUPPLY BY LOCATION OF UPPER SCALE HOTEL ROOMS 1000 800 600 Rooms 400 200 0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Year Downtown Area Inner City Area Outer City AreaSource : Colliers International Thailand Research 4
  5. 5. Hotel | Supply shortage UPPER SCALE/LUXURY HOTEL ROOMS 16,000 14,000 12,000 10,000 Rooms 8,000 6,000 4,000 2,000 0 Yangon Vientiane Bangkok CitySource : Colliers International Thailand Research 5
  6. 6. Hospitality | Making up for lost time• No new Upper Scale hotels for past 10 years• Office space kept hotels alive• Sudden influx leading to near full occupancy• Room rates beginning to soar• Serviced Apartments in same situation• Bonanza expected over next three years 6
  7. 7. Three to four year timeframe• Few nearly completed projects• Economy/three star hotels• Refurbish existing properties• Improve old hotels• Mandalay/Nay Pyi Taw airports• Apartments for lease• Training 7
  8. 8. The 150 dollar per sq m office of the future
  9. 9. Historical supply – Office in Yangon HISTORICAL SUPPLY FOR YANGON 80,000 60,000 Area (Sq M.) 40,000 20,000 - 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Year Supply at the start of the year Additional supply during the year Source : Colliers International Thailand Research 9
  10. 10. Office supply | A long way to go SUPPLY IN VARIOUS LOCATIONS 160,000 140,000 120,000 100,000 Area (Sq M) 80,000 60,000 40,000 20,000 0 Empire Tower Yangon Phnom Pehn Vientiane (Bangkok) City Source : Colliers International Thailand Research 10
  11. 11. Office market | Future trendsHISTORICAL SUPPLY FOR YANGON AND HO CHI MINH CITY 2008 Hanoi 550,000 sq m HCMC – Rents top $100 sq m Grade A – Full occupancy 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Yangon HCMC Source : Colliers International Thailand Research 11
  12. 12. The next industrial revolution
  13. 13. Industrial Estate PROPORTION OF INDUSTRIAL ESTAE LAND IN YANGON AND OTHER STATES / DIVISIONS Source : Department of Human Settlement and Housing Development (DHSHD) and Colliers International Thailand Research 13
  14. 14. Industrial Estates in Myanmar HIS TORICAL S UPPLY IN MYANMAR 6,000 5,500 5,000 4,500 Area (Hectare) 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 - 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Year Supply at the start of the year Additional supply during the year Source : Department of Human Settlement and Housing Development (DHSHD) and Colliers International Thailand Research 1 hectare = 6.25 rai 14
  15. 15. Ports for future opportunity• Thilawa• Sittwe• Kyaukphu• Dawei• Pathein• But wait and see 15
  16. 16. A real hardship posting?
  17. 17. Serviced apartment market HISTORICAL SUPPLY IN YANGON 800 600 Units 400 200 0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Year Supply at the start of the year Additional supply during the year Source: Colliers International Thailand Research 17
  18. 18. Hardship posting• Very limited serviced apartments• Quality condominiums in short supply but changing• Hospitals vary in quality• Construction sites will define next few years• Power cuts will still be part of life• Not everybody’s choice but .......
  19. 19. But delightful
  20. 20. • “Accelerating Success”• 2nd largest commercial real estate• 2nd most recognized commercial real estate brand globally• Over 12,500 professionals• 512 Offices in 61 Countries• Over 2 billion sq ft under management• US$ 2 billion in revenue Worldwide leading in Real Estate Service ProviderAccelerating success
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