Tuesday, 27 March 2018

IMyanmarHouse to make buying foreign properties easier

By Marian Jacob
In Real Estate
26 Mar 2018

IMyanmarHouse is in the process of forming sales partnerships with foreign real estate companies from Singapore, Thailand, Malaysia, and China.

Nay Min Thu

Founder Nay Min Thu (Linkedin profile) explained: “Singapore, Thailand, Malaysia, and China are our top-priority countries since they have close trading relations with Myanmar. At this point in time, we can’t divulge who we are in talks with. But what I can tell is that those are the top real estate companies in their respective countries.”

Having already partnered with Angel Real Estate Company from Thailand, the company will be cross-promoting new real estate development projects from both countries; implying that IMyanmarHouse.com will be the exclusive sales and marketing agent for Thailand properties, and vice versa.

As the first step in this collaboration, IMyanmarHouse hosted a sales event for a Bangkok condominium project called Plum 89 Condo at Novotel Hotel in Yangon earlier this month. The company said this is the first time an overseas condo project was marketed and sold to Myanmar customers on a large scale. A total of 20 units were sold during the event.

“It was a successful sales event, considering that people from Myanmar are not used to buying properties abroad. Likewise, we will be marketing and selling properties from Myanmar to Thai people.”

IMyanmarHouse pioneered the online-to-offline model for the real estate market in Myanmar. Property buyers browse and filter the various property choices online; using search criteria like location, price range, and property type. The buyers then come down to physical sales events, view the properties in person and make the final purchase decision. This concept has worked well for the company and for the Myanmar market since it saves time and effort for potential property buyers. IMyanmarHouse has been successfully using this model since 2016.

IMyanmarHouse is backed by Frontier Digital Ventures (FDV: ASX). Headquartered in Kuala Lumpur, Malaysia, Frontier DV invests in companies in emerging markets for their long-term growth potential.

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