• Burmese
Wednesday, November 29, 2023
No Result
View All Result
NEWSLETTER
The Irrawaddy
25 °c
Yangon
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Letters
  • Junta Watch
  • Ethnic Issues
  • Features
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Letters
  • Junta Watch
  • Ethnic Issues
  • Features
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
No Result
View All Result
The Irrawaddy
No Result
View All Result
Home News Burma

Land Prices Soar in Muse As New Zone Attracts Chinese, Burmese Investors

by Nang Seng Nom
August 28, 2013
in Uncategorized
Reading Time: 2 mins read
A A
Land Prices Soar in Muse As New Zone Attracts Chinese

A conceptual illustration of the planned Central Economic Zone project in Muse

5.1k
VIEWS
Share on FacebookShare on Twitter

RANGOON — Chinese and Burmese businessmen have been rushing to buy up land in a new economic zone in the border town of Muse, northern Shan State, causing local land prices to skyrocket, according to residents, who claim that prices have topped US$200,000 per acre.

“This is a big project and Chinese people really like it. Every day, many people from PRC [People’s Republic of China] come to purchase lands from that project zone. Generally, the buyers give two hundred million Kyats [about $205,000] for a one-acre plot,” resident Sai Aye said.

RelatedPosts

Myanmar Junta Airstrikes Force Sagaing Resistance Retreat

Myanmar Junta Airstrikes Force Sagaing Resistance Retreat

November 29, 2023
258
Another Entire Junta Battalion Raises the White Flag in Myanmar’s Northern Shan State

Another Entire Junta Battalion Raises the White Flag in Myanmar’s Northern Shan State

November 29, 2023
1.9k
FACT CHECK: Exposing the Myanmar Junta’s Lies on Operation 1027 

FACT CHECK: Exposing the Myanmar Junta’s Lies on Operation 1027 

November 29, 2023
540

Such land prices are roughly on par with the market rate for land located on favorable locations, such as near roads, on the outskirts of Rangoon.

Earlier this year, Muse District authorities approved plans for the 288-acre (115-hectare) Central Economic Zone located on the banks of the Shweli River, which demarcates the Burma-China border. Burmese firms Great Hawkham Public Co Ltd and New Star Light Co Ltd were granted rights to develop the zone, government newspaper The New Light of Myanmar reported in June.

New Star Light Company has so far claimed about 200 acres (80 hectare) of land in the project area and offered $25,000 per acre in compensation to affected farmers, said Sai Kyaw, a Muse District farmer who sold his land.

Although this compensation sum is far above the rates that farmers in for instance the Thiliwa Special Economic Zone near Rangoon can expect, Muse residents were still disgruntled because Chinese investors were now offering even higher prices, according to Sai Kyaw.

“New Star Light Company started the project by giving 25 million kyat [$25,600] for each acre of farmland. But now, Chinese people buy the land that is not yet confiscated for the project for 100 million kyats [$105,000],” the farmer complained. “So, the owners of the confiscated farmlands feel really sorry. However, the companies are partly supported by the government. We cannot object to the project.”

Real estate development in Muse Central Economic Zone is said to include hotels, jade trading shops, supermarkets, recreation centers and business towers. A conceptual illustration of the completed project depicts a mix of futuristic high-rise buildings, malls and modern residential areas in the town.

Muse is located on the opposite riverbank of the Chinese border town Ruili, Yunnan Province. It is the country’s most important border trading post and functions as a conduit for the growing trade between Burma and Yunnan Province, which was valued at about $2.7 billion in 2011, according to Chinese state news agency Xinhua.

Sai Aik Maung, another local farmer, said he feared he would be forced to part with his farmland because Burmese firms and Chinese businessmen seeking to buy land had the support of local authorities.

He said wanted more than $25,000 per acre as he would be without a livelihood after he sells his land. “We have been farmers ever since the days of our grandparents. Now, even if we cannot continue as farmers, we want to get good prices for our farmlands,” Sai Aik Maung said.

Additional reporting by Paul Vrieze.

Your Thoughts …
Previous Post

Activist Naw Ohn Hla Boycotts Letpadaung Trial, Cites Judicial Failings

Next Post

Scant Stocks, Weak Demand Dent Burma’s Hopes Of Rice Revival

Nang Seng Nom

Nang Seng Nom

The Irrawaddy

Similar Picks:

Exodus: Tens of Thousands Flee as Myanmar Junta Troops Face Last Stand in Kokang

Exodus: Tens of Thousands Flee as Myanmar Junta Troops Face Last Stand in Kokang

November 28, 2023
53k
Drone Attack at Myanmar-China Border Gate Causes Over $14m in Losses

Drone Attack at Myanmar-China Border Gate Causes Over $14m in Losses

November 27, 2023
27.8k
Brotherhood Alliance Marching Towards Capital of Myanmar’s Kokang Region

Brotherhood Alliance Marching Towards Capital of Myanmar’s Kokang Region

November 25, 2023
26k
General Close to Myanmar Junta Boss Placed Under House Arrest, Interrogated for Corruption

General Close to Myanmar Junta Boss Placed Under House Arrest, Interrogated for Corruption

September 14, 2023
23.2k
Three Rebel Army Chiefs Predict Rapid Fall of Myanmar Junta

Three Rebel Army Chiefs Predict Rapid Fall of Myanmar Junta

August 18, 2023
21.1k
Has China Lost Control of Ethnic Armies in Myanmar’s War-Torn Borderland?

Has China Lost Control of Ethnic Armies in Myanmar’s War-Torn Borderland?

November 6, 2023
18.3k
Load More
Next Post
Scant Stocks

Scant Stocks, Weak Demand Dent Burma's Hopes Of Rice Revival

Promising Medical Assistance

Promising Medical Assistance, Chinese Hospital Ship Docks at Thilawa

No Result
View All Result

Recommended

Echoes of 2017 Genocide as Myanmar Junta Imposes ‘Four Cuts’ on Rakhine

Echoes of 2017 Genocide as Myanmar Junta Imposes ‘Four Cuts’ on Rakhine

6 days ago
6.9k
Illusion of Myanmar Military’s Indispensability Has Been Shattered

Illusion of Myanmar Military’s Indispensability Has Been Shattered

1 day ago
4.2k

Most Read

  • Exodus: Tens of Thousands Flee as Myanmar Junta Troops Face Last Stand in Kokang

    Exodus: Tens of Thousands Flee as Myanmar Junta Troops Face Last Stand in Kokang

    shares
    Share 0 Tweet 0
  • Drone Attack at Myanmar-China Border Gate Causes Over $14m in Losses

    shares
    Share 0 Tweet 0
  • Myanmar Junta Continues to Suffer Defeats a Month Into Operation 1027

    shares
    Share 0 Tweet 0
  • Illusion of Myanmar Military’s Indispensability Has Been Shattered

    shares
    Share 0 Tweet 0
  • Myanmar Resistance Calls on Junta Troops to Surrender For Their Own Safety

    shares
    Share 0 Tweet 0

Newsletter

Get The Irrawaddy’s latest news, analyses and opinion pieces on Myanmar in your inbox.

Subscribe here for daily updates.

Contents

  • News
  • Politics
  • War Against the Junta
  • Myanmar’s Crisis & the World
  • Conflicts In Numbers
  • Junta Crony
  • Ethnic Issues
  • Asia
  • World
  • Business
  • Economy
  • Election 2020
  • Elections in History
  • Cartoons
  • Features
  • Opinion
  • Editorial
  • Commentary
  • Guest Column
  • Analysis
  • Letters
  • In Person
  • Interview
  • Profile
  • Dateline
  • Specials
  • Myanmar Diary
  • Women & Gender
  • Places in History
  • On This Day
  • From the Archive
  • Myanmar & COVID-19
  • Intelligence
  • Myanmar-China Watch
  • Lifestyle
  • Travel
  • Food
  • Fashion & Design
  • Videos
  • Photos
  • Photo Essay
  • Donation

About The Irrawaddy

Founded in 1993 by a group of Myanmar journalists living in exile in Thailand, The Irrawaddy is a leading source of reliable news, information, and analysis on Burma/Myanmar and the Southeast Asian region. From its inception, The Irrawaddy has been an independent news media group, unaffiliated with any political party, organization or government. We believe that media must be free and independent and we strive to preserve press freedom.

  • Copyright
  • Code of Ethics
  • Privacy Policy
  • Team
  • About Us
  • Careers
  • Contact
  • Burmese

© 2023 Irrawaddy Publishing Group. All Rights Reserved

No Result
View All Result
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Obituaries
  • Politics
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Letters
  • Ethnic Issues
  • Features
  • In Person
    • Interview
    • Profile
  • Business
    • Economy
    • Business Roundup
  • Donation

© 2023 Irrawaddy Publishing Group. All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.