Different Types of Office Spaces in Yangon, Myanmar
The local companies as
well as foreign investors are expanding their activities in Myanmar and this
has resulted in a shortage of office in the erstwhile capital city of Yangon.
In turn, it has led to a real estate boom in the commercial capital and rental
rates for office space in Yangon have more than quadrupled in buildings such as
Sakura Tower located in the downtown financial district. For the smallest
office space of 175 sq. meters in this tower, the rent could be as high as
$5,000 per month. The scenario at Centrepoint Towers, the impressive commercial
complex that overlooks Sule Pagoda’s golden dome, located in a prime area close
to the colonial quarter with architectural conservation zones and renovated
Edwardian buildings is very much the same. A year ago, the rental rate in this
tower had been just $13 per sq. meter. Today, it is as high as $85. The prime
office space offered for rent by York
Center in Yangon ranges from 654 sq ft to 4,144 sq ft. This is best suited
for organizations that seek to establish a presence in flexible and affordable
terms.
Yangon Central Business
District
Downtown Yangon,
referred to also as the Yangon CBD (formerly the Cantonment), is Yangon's
central business district. It is located very close to the metropolitan area's
geographic center. Downtown Yangon is geographically bounded by the Pun Hlaing
River on the west, Pazundaung Creek on the east and the Hlaing River on the
south.
Types of Office Space In
Yangon CBD
Based on your need, you
can choose the type of office space that will best suit your needs. The
different types of office space available are as follows:
Service or Shared office
Serviced or shared
offices provide the ideal solution if you want to establish an office in
Yangon, Myanmar. These pre-cabled and furnished offices can be occupied
immediately and you also benefit because the facilities are often shared by the
tenants. The amenities include meeting rooms, kitchens, pay-as-you-go services
and a staffed reception. The monthly rental is often fixed in advance and it
guarantees a great deal of cost control for you. If you are looking at a
commitment of less than 5 years, serviced offices make a lot of sense.
Shared offices are same
as serviced offices, but you will not get a private cabin. You will be provided
with a dedicated desk in a secure area. A shared office is best suited for
start-up companies, creative freelancers, etc.
Managed Office
A managed office space
in Yangon bundles all of the property services required for your business in a
single contract. The cost is fixed and a single supplier manages the whole
process. There is no capital outlay involved and it is delivered on time
according to your budget and specifications.
Virtual Office
A virtual office space
in Yangon offers all the benefits that a serviced office provides without you
paying for it full time. You can choose from a list of benefits that are presented
to you and they include a prestigious business address; a full parcel, fax and
postal service; access to high-quality meeting rooms and a dedicated telephone
number, among others.
The Yangon Region
administration is in the process of developing five secondary central business
districts as part of the Greater Yangon Strategic Development Plan. These
secondary central business districts are being developed in different areas in
order to reduce traffic jams and overcrowding.
