The job of real estate and property developers in Myanmar is to take responsibility for the construction, sales, management, and leasing of properties, whether they be residential commercial or industrial. Jobs in real estate and property development vary greatly as there are large and small projects, and different segments in these. At a glance, some jobs in real estate and property development include real estate consulting, account managing, property management, project management, sales, marketing, finance, and legal, but that is only to start with as even though there are many overlaps, jobs in real estate and jobs in property development can have variations.
Someone working in a real estate company may be responsible for sales and leasing, and will deal directly with the customer. It is their job to know the city, the landscape and listen to the wishes of their client in regards to budget, location and requirements. For example, if a family is looking for a three bedroom house with a yard they are not going to be content with a two bedroom condo downtown. Included in the job of those in real estate is also the sourcing of clients, the marketing of properties, and in essence the eventual sale (whether it be a from a sale or leasing perspective). As there are so many international arrivals, a command of English is normally essential.
Property development jobs can also vary as they can basically be in any part of a project from the inception to completion, and there are different jobs at various stages. For example, a foreign investor buys a piece of land, and proposes to develop it into a block of condominiums. Even at the very initial stages, there are requirements for architects, engineers, surveyors, lawyers and finance specialists as well as someone having the job to coordinate with authorities. From there, if the construction goes ahead there is a need for skilled tradesmen and construction workers to do the on the ground work (as well as site engineers, people in the administrative function and a Human Resources Department). Once the building s complete, there may be a need for interior designers and other creatives. From there, depending on the intended use of the building there will be a need for sales and leasing consultants.
There really is no limit to the jobs in Myanmar in real estate and property development.
Did you know that apparently over fifty percent of the investments flowing into Myanmar since reforms allowing foreign investment were made are targeting the real estate sector? Adding to that, figures suggest that between 1997 and 2010 no new commercial real estate property projects were completed in Yangon. When one combines this information, and then takes into consideration that Yangon has five million inhabitants, it is somewhat simpler to understand why the supply is not meeting the demand, and explains why Yangon has the highest rental rates in South East Asia. All of these points indicate that there are an abundance of jobs in real estate and property development in Myanmar, especially in urban centres such as Yangon.
What you require to obtain a job in real estate and property development in Myanmar really depends on the type of role that one is seeking. For example, to work on the sales side (whether it be leasing or sales) communication skills are imperative as is a command of the English language. Tertiary qualifications are not necessarily required aside from a recognised real estate course, aa well as perhaps sales experience in another industry. Anyone working in sales in real estate and property development needs to have the ability to listen to customers, understand their needs and budget and align themselves to that.
To work in accounting, finance, law, engineering or project management in real estate and property development requires tertiary education and in most cases experience, but for those with the required attributes after receiving qualifications internships are possible. From there working one’s way up is quite a clear career path.
There are also roles in real estate and property development in Myanmar which do not require an abundance of education, especially in the administration and construction area. Through the process of developing a property there are roles in skilled labour/ construction, roles for site engineers, and safety officers to name a few.
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