Retail market in Myanmar yields better opportunities for growth compared to the neighbouring countries and demand for retail space is still on the rise

Demand for retail space has been on the rise in Yangon, where the population has swelled and living standards are improving. Earlier this year, the government also permitted foreign ownership of local wholesalers and retailers and last month allowed businesses in the sector to trade in a total of 24 products.

Ko Nay Min Thu, managing director of imyanmarhouse.com, told The Myanmar Times that the retail market in Myanmar yields better opportunities for growth compared to neighbouring countries. This is because there are still few shopping malls in relation to the number of people. 

 “Shopping malls with recreational areas have become popular in Singapore, Thailand and Malaysia. When Myanmar people visit these countries, they have fun in these shopping malls so there is potential to develop similar retail offerings in Myanmar,” he said. 

The retail sector can be broken down into shopping malls, hypermarkets, supermarkets, department stores and supporting retail outlets such as standalone stores or shops in condominium buildings, for example. 

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