Yangon, Myanmar
Myanmar registers deeds, not titles, and only in person: in Yangon the owners that can be named are the State and its agencies and the few listed groups — Yoma, FMI, Shangri-La, HAGL — that disclose their buildings.
9 buildings · 5 with an owner established · 22 sources · 7 tier B · 2 tier A · prepared 2026-10-20
Can you find out who owns it?
Myanmar has no title register. Deeds that convey immovable property must be registered under the Registration of Deeds Law 2018 (Pyidaungsu Hluttaw Law 9/2018) at a Registration of Deeds Office run by the Ministry of Agriculture's Department of Farmland Management and Statistics, with a combined city office for the Yangon city development territory (s1). The law provides for gazetted fees for 'searching and copying the registration book and indices', and the 2019 Deeds Registration Rules say a search can be made and a certified copy obtained at the registry office on payment of stamp duty and fees (s1, s2); nothing is searchable online and no bulk owner file exists. In Yangon the city development committee (YCDC) also administers land under the 1990 Yangon City Development Law (s17). After the February 2021 coup (s21) large projects such as Yoma Central were suspended (s3); no change opening the registers was found.
Is ownership public?Public, but one paid search at a time
Cost of one title searchNot available at any price
Bulk ownership dataNone published
Sale pricesNo transaction data published
Sites that forbid taking their data
- yomastrategic.com — “No material contained on this Website may be modified, copied, transmitted, distributed and/or reproduced without Yoma Strategic Holdings Limited. and/or its subsidiaries prior written consent.”
- fmi.com.mm — “You must not: Republish material from www.fmi.com.mm … Reproduce, duplicate or copy material from www.fmi.com.mm”
- oxfordbusinessgroup.com — “You may not reproduce, modify or exploit any of the Content for commercial purposes.”
1
The marquee buildings
The towers that set the tone of the core, and who holds them. A price is the price a document states, on the date it states — not an estimate of what the building is worth now.
| Building | Use | Owner | Owner type | Last price paid |
|---|---|---|---|---|
| Yoma Central (former Myanma Railways headquarters site) 372 Bogyoke Aung San Road, Pabedan Township (Bogyoke Aung San Rd / Sule Pagoda Rd) 9.5 acres; 2,440,000 sq ft planned (Wikipedia) |
Mixed use | Not established the jurisdiction does not disclose owners Land: Wikipedia (s4) says the build-operate-transfer project is 'on land owned by Myanma Railways'; Yoma's FY2026 annual report (s3) lists 372 Bogyoke Aung San Road, 'Retail podium and office towers', as 'Leasehold with 70 years lease expiring 31 December 2067'. Developer Meeyahta Development Limited is 48% Yoma Strategic (s3) and 12% FMI (s5); Wikipedia gives Mitsubishi 30%, ADB 5%, IFC 5%. Yoma Central investment property of US$216.48M (31 Mar 2026) is mortgaged to secure borrowings. Construction paused June 2021 after the coup; Yoma 'plans to restart the project in phases in FY2027'. Freehold owner (Myanma Railways) is stated only by Wikipedia, so left blank here. |
Not established | —B |
| Sule Shangri-La Hotel (formerly Traders Hotel) 223 Sule Pagoda Road, Kyauktada Township 466 rooms; 80.5 m · 22 floors |
Hotel | Shangri-La Hotels and Resorts (Shangri-La Asia group) Wikipedia's infobox gives 'Owner: Shangri-La Hotels and Resorts'; the text says the 466-room hotel opened in 1996 as Traders Hotel and 'Its owner, Shangri-La Hotels and Resorts, rebranded the hotel to its current name in 2014'. It was Myanmar's tallest building 1996–99. Shangri-La Asia's own filings are on HKEX, whose terms bar automated access, so the holding entity and stake were not read from a filing. Land tenure under the hotel not established. No price published. |
Public company | —B |
| Sule Square 221 Sule Pagoda Road, Kyauktada Township (beside Sule Shangri-La) |
Office | Traders Square (majority-owned by Shangri-La Asia, per Justice For Myanmar); land leased from the army's Quartermaster General Justice For Myanmar (s7, CC BY 4.0): 'Sule Square, developed by Shangri-La Asia'; 'Shangri-La hold the lease with the army directly, negotiated in the 1990s'; 'In 1996 … the Kuok Group signed the land lease for Sule Square with the quartermaster general of the Myanmar army'; opened 2017 'under management of Shangri-La Asia, who is also the majority owner of Traders Square, according to company disclosures'. Neither party has disclosed the lease payments. The advocacy source is the only one opened; Shangri-La's HKEX filings were not read (HKEX terms bar bots). Several international tenants left in 2021. |
Public company | —B |
| Myanmar Plaza (Myanmar Centre) 192 Kabar Aye Pagoda Road, Bahan Township 5 floors, ~100 stores; part of a US$440M mixed-use Myanmar Centre · 5 floors |
Retail | Hoang Anh Gia Lai (HAGL), Vietnam Wikipedia (s8): opened 5 Dec 2015, 'owned by Vietnam's Hoang Anh Gia Lai (HAGL)', part of the 'Myanmar Centre, a $440-million mixed-use development with office towers, a hotel and residential apartments'; the attached Meliá Yangon hotel was completed in 2016. Viet Nam News (s9, Aug 2019): Dai Quang Minh Real Estate Investment Corporation, a Thaco member, 'will be in charge of developing the second phase of HAGL's real estate project in Myanmar'. HAGL's current holding entity and any later transfer were not established from a filing; the mall was a boycott target after the 2021 coup. |
Public company | —B |
| Yangon International Airport (Mingaladon) Mingaladon Township, 15 km north of central Yangon |
Civic | Government of the Republic of the Union of Myanmar Wikipedia's infobox: 'Owner: Government of the Republic of Union of Myanmar', 'Operator: Yangon Aerodrome Co., Ltd'; 6,104,854 passengers in 2018; one 3,414 m runway. 'In 2013, a contract worth $150 million was awarded to a consortium led by an affiliate of Asia World to construct a new domestic terminal and expansion of airport apron.' The operator's concession terms and the operator's shareholders were not established from any source opened. |
Government | —B |
| Thuwunna Stadium (Thuwunna Youth Training Center Stadium) Thingangyun Township 50,000 seats |
Civic | Ministry of Sports and Youth Affairs Wikipedia's infobox: 'Owner: Ministry of Sports and Youth Affairs', capacity 50,000, opened 1985, 'Constructed with help from the Japanese government'; renovated and expanded for the 2013 Southeast Asian Games. Home of the national football team. |
Government | —B |
| Shwedagon Pagoda Singuttara Hill, Bahan Township 99 m stupa |
Institutional | Not established the jurisdiction does not disclose owners Wikipedia's infobox names the 'Governing body: The Board of Trustees of Shwedagon Pagoda'. Governance is not ownership, and no source opened states who holds the land of the pagoda platform; it is left blank rather than assigned to the Board, the State or a religious body. |
Not established | —A |
| Sakura Tower 339 Bogyoke Aung San Road, Kyauktada Township 100 m · 20 floors |
Office | Not established the jurisdiction does not disclose owners Wikipedia (s12): a 20-storey office building completed by Japanese contractors in 1999, Myanmar's tallest building 1999–2016, opposite Sule Shangri-La; the Yangon Japanese Association has offices on the 12th floor. No source opened names the owning entity or a price; the deeds registry is searchable only in person. |
Not established | —A |
| Kandawgyi Palace Hotel site Kan Yeiktha Road, Kandawgyi Lake |
Hotel | Not established the jurisdiction does not disclose owners Wikipedia (s14): built 1934 as the Rangoon Rowing Club; the Ministry of Hotels and Tourism took control in 1979; 'In 2010, the hotel was acquired by the Htoo Group of Companies'; the hotel was destroyed by fire on 19 October 2017. Wikipedia's owner field names an individual, which this record does not repeat; whether the Htoo Group entity still holds the site, and on what land tenure, was not established. No price published. |
Not established | —B |
2
The core land
The most valuable ground in the city, and what the public record says about it.
Myanmar publishes no assessment roll or land-price register for Yangon; the inland revenue tax valuation exists but was not found online. The best published benchmarks are a listed group's independent valuations of its downtown site.
Yoma Central Towers 3 and 4, fair valueUS$144.61M
Yoma Strategic FY2026 annual report (s3), at 31 Mar 2026 (2025: US$134.30M); Level 3, Cushman & Wakefield valuation.
Downtown land unit rate used for Yoma CentralUS$871–1,373 per m²
Same report (s3): 'Unit rate on land per square meter', 2026 (2025: US$804–1,006).
Agricultural land share of Yangon city areaabout 51% (urbanised 31%)
JICA–Yangon authorities urban development study for 2012, as cited by Oxford Business Group (s20).
State affordable flat price (Mahabandoola)MMK 9m–12m per unit
OBG (s19), Aug 2017, Dagon Seikkan and Hlaing Thar Yar.
3
Who owns the town
At this scale the significant owner is rarely a trust or a fund: it is one or two local holding companies, a family in its second or third generation, and often the land around the town rather than the buildings in it.
Most urban land in Yangon is held by the State and its agencies and passed to developers by long lease rather than sale; foreign-linked developers hold 'land development rights' and leaseholds, not freehold (s3). The Yangon City Development Committee was given 'city planning, land administration, tax collection, and development' by the 1990 Yangon City Development Law (s17). The only holdings with figures come from listed companies and the SEZ authority; no State land inventory for Yangon was found.
| Name | Type | Holdings |
|---|---|---|
| Myanma Railways (State) Wikipedia (s4) says Yoma Central is a build-operate-transfer project 'on land owned by Myanma Railways'; Yoma's FY2026 report (s3) records the 372 Bogyoke Aung San Road site as a 70-year leasehold expiring 31 December 2067. Myanma Railways also runs Yangon Central station (5,110 m², the country's largest). No inventory of the railway's Yangon land was found. |
Government | Yoma Central site, 9.5 acres downtown (Wikipedia)B |
| Myanmar army — Office of the Quartermaster General Justice For Myanmar (s7): 'In 1996 … the Kuok Group signed the land lease for Sule Square with the quartermaster general of the Myanmar army'; the payments have never been disclosed. Advocacy source; the lease itself was not seen. |
Government | Sule Square site (land leased 1996)B |
| Myanmar Japan Thilawa Development Ltd (Thilawa SEZ developer) The Thilawa SEZ Management Committee's own page (s15) says the zone 'is developed by a Myanmar-Japan joint venture company with the name of Myanmar Japan Thilawa Development Limited' with the stakes listed (they sum to 90% as published). Wikipedia (s16): 2,500 ha in Kyauktan and Thanlyin townships, 25 km south of Yangon — inside Yangon Region but outside the YCDC city area. Developer of the zone, which leases plots to investors; land title under it not established. |
Developer | 2,500 ha SEZ (Wikipedia); Myanmar govt 10%, JICA 10%, Myanmar Thilawa SEZ Holdings 41%, MMS Thilawa Development 29% (as stated)A |
| Myanma Port Authority (Ministry of Transport and Communications) Wikipedia (s18): the MPA 'is a government agency vested with the responsibility to regulate and administer the coastal ports of Myanmar'; Yangon facilities include Asia World Port Terminal (Ahlone), Myanmar Industrial Port and MITT at Thilawa, the last 'operated by a Hong Kong-based firm'. Operation by private firms is not ownership; no land area is published. |
Government | Yangon port terminals; HQ on Strand RoadB |
| Yoma Land (Yoma Strategic Holdings) Yoma's FY2026 annual report (s3): 'The 652-acre Pun Hlaing Estate broke ground in 1997' (Hlaing Tharyar); land development rights — 'rights to own, use, develop and sell plots of land' — carried at US$109.463M: Pun Hlaing Estate US$72.542M, Thanlyin Estate (StarCity) US$36.506M. StarCity is held through 70%-owned Thanlyin Estate Development Limited; its leaseholds run 60 years. |
Public company | Pun Hlaing Estate 652 acres; land development rights US$109.46M (PHE US$72.54M, StarCity US$36.51M) at 31 Mar 2026A |
5
Who builds the houses
New-home building in this market: the volume, and the firms behind it. Ownership of a builder matters as much as its volume — a private-equity platform and a family firm behave differently.
Yangon's new homes come from three places: State housing built by the Ministry of Construction's Department of Urban and Housing Development and allotted by lottery, a handful of master-planned estates by listed groups, and many private condominium builders that publish nothing. The 2016 Condominium Law allowed foreign ownership of up to 40% of a condominium's floor space (s19). Since the 2021 coup, the only builder publishing unit counts found is Yoma Land; State figures are pre-coup.
| Name | Type | Units |
|---|---|---|
| Yoma Land (Yoma Strategic Holdings, SGX) FY2026 annual report (s3): the 690-unit Estella townhouse development at StarCity completed and handed over; ARA cluster housing sold 615 of 634 launched units plus 204 of a 240-unit third phase by 31 Mar 2026; City Loft West sold 713 of 715 launched units, with a fourth 221-unit tower launched. Residents: about 9,100 at StarCity and 1,400 at Pun Hlaing Estate. Development revenue US$111.2M. |
Public company | 690 Estella townhouses handed over; ARA 615 of 634 sold; City Loft West 713 of 715 sold (FY2026)A |
| Department of Urban and Housing Development (Ministry of Construction) OBG (s19, 29 Sep 2017): DUHD 'announced plans to build 180,000 residential units in Yangon by 2040' — about 8,000 a year, 20% of projected demand. Mahabandoola rental housing had 35,000 applications for 1,200 units; 991 more units went on sale in Dagon Seikkan and Hlaing Thar Yar at MMK 9m–12m. No post-2021 delivery figures were found. |
Government | 180,000 units planned in Yangon by 2040 (announced Aug 2017)A |
| Yangon City Development Committee (with Surbana, Singapore) OBG (s20, undated, c. 2015): YCDC is developing satellite towns with affordable homes for purchase and rent; Dagon Seikkan, with Singapore's Surbana, is a pilot; 'Just over 10,000 units were planned for completion in 2015.' Whether they were completed was not established. |
Government | just over 10,000 units planned for completion in 2015A |
| First Myanmar Investment (YSX: FMI) FMI's 2026 annual report (s5) lists its real-estate stakes: 30% Thanlyin Estate Development Limited (StarCity), 25% CLW Development, 47.5% FMI Riverside Development, 12% Meeyahta Development (Yoma Central). FMI developed FMI City (from 1995). Wikipedia (s22) says real estate contributes 87% of FMI's revenue; FMI's own 2026 report says Yoma Bank 'contributed 82% of total revenue' of MMK 705.4 billion in FY2026, so the Wikipedia figure is out of date. |
Public company | 30% of StarCity developer; 25% City Loft West; 47.5% FMI Riverside DevelopmentB |
6
Commercial landlords
The commercial side, counted separately from housing: who holds the office, retail and industrial floor area.
Commercial landlords that can be named are those with listed parents. Shangri-La Asia (Sule Square, Sule Shangri-La, Shangri-La Residences) publishes its Yangon floor areas only on HKEX, which could not be read; HAGL's Myanmar Centre figures are from 2015-era reporting. No REIT exists in Myanmar.
| Name | Type | Value / size |
|---|---|---|
| Yoma Strategic Holdings (via Meeyahta Development and Yoma Land) FY2026 annual report (s3): investment properties at fair value US$331.484M, 28.8% of total assets, valued by Cushman & Wakefield; Level 3 office building US$150.86M, retail podium US$71.87M; US$216.484M associated with Yoma Central is mortgaged. Also The Campus office at Pun Hlaing (US$6.25M) and StarCity retail and the Dulwich school campus. |
Public company | Investment properties US$331.48M (31 Mar 2026), of which Yoma Central US$216.48MA |
| Shangri-La Asia group (Traders Square and hotel subsidiaries) Wikipedia (s6) names Shangri-La Hotels and Resorts as owner of Sule Shangri-La; Justice For Myanmar (s7) says Shangri-La Asia is majority owner of Traders Square, developer of Sule Square, opened 2017. Stakes and floor areas are in HKEX filings not read. |
Public company | Sule Shangri-La (466 rooms) and Sule Square officeB |
| Hoang Anh Gia Lai (HAGL, HOSE: HAG) Wikipedia (s8): Myanmar Plaza owned by HAGL, part of the US$440 million Myanmar Centre. Viet Nam News (s9, 2019): Thaco's Dai Quang Minh to develop the project's second phase. Current ownership after HAGL's shift to farming not established from a filing. |
Public company | Myanmar Centre, US$440M mixed-use incl. Myanmar Plaza (~100 stores)B |
?
Looked for and not found
Claims this page would have made if a source could be opened. They are left out rather than guessed.
- Shangri-La Asia's equity interests in Sule Square and Shangri-La Residences Yangon (a search snippet of an HKEX filing gives 59.28% and 55.86%) — not read because HKEX bars automated access.
- Whether HAGL still holds Myanmar Plaza and the Myanmar Centre in 2026, and through which entity.
- Owners of Junction City (Shwe Taung Group development), Times City, The Secretariat (former Ministers' Building), FMI Centre and Sakura Tower — no filing or official page opened that names them.
- Gazetted fees for searching the deeds registry under the Registration of Deeds Law s.68 — not found online.
- Yangon Central station and its land are presumed Myanma Railways property; no source opened states ownership (Wikipedia gives operator only).
- Post-2021 status of the DUHD and YCDC housing programmes — no official figures after 2020 found.
§
Sources
- Registration of Deeds Law, Pyidaungsu Hluttaw Law 9/2018 (convenience translation) — Lincoln Legal Services (Myanmar) · openA
- Deeds Registration Rules (LawPlus Update, 30 Oct 2019) — LawPlus Myanmar Ltd · openA
- Yoma Strategic Holdings Ltd Annual Report 2026 (FY to 31 March 2026) — Yoma Strategic Holdings Ltd (SGX) · openA
- Yoma Central — Wikipedia · openA
- First Myanmar Investment Public Co. Annual Report 2026 — First Myanmar Investment (YSX: FMI) · openA
- Sule Shangri-La Hotel — Wikipedia · openA
- Shangri-La financing crimes against humanity — Justice For Myanmar · openA
- Myanmar Plaza — Wikipedia · openA
- HAGL offloads entire stake in realty arm — Viet Nam News · openA
- Yangon International Airport — Wikipedia · openA
- Thuwunna Stadium — Wikipedia · openA
- Sakura Tower — Wikipedia · openA
- Shwedagon Pagoda — Wikipedia · openA
- Kandawgyi Palace Hotel — Wikipedia · openA
- About us — Thilawa Special Economic Zone — Thilawa SEZ Management Committee · openA
- Thilawa Special Economic Zone — Wikipedia · openA
- Yangon City Development Committee — Wikipedia · openA
- Port of Yangon (Myanma Port Authority) — Wikipedia · openA
- Urban expansion opens doors for Myanmar's construction sector (Economic Update, 29 Sep 2017) — Oxford Business Group · openA
- Affordable housing: Yangon's rapidly growing population is driving up demand for low-cost housing — Oxford Business Group · openA
- Yangon — Wikipedia · openA
- First Myanmar Investment — Wikipedia · openA