Shweproperty.com has secured new foreign investment from Justin Sway, a serial entrepreneur and investor. The new investment will be used to accelerate ShweProperty.com’s market leading position, further customer services and products to support Myanmar’s rapidly growing Real Estate sector, and deliver more value to property buyers and sellers in Myanmar and related International market.
Shweproperty.com is the first property portal in Myanmar. The site was founded in 2011 and is now one of Myanmar’s leading and fastest growing property websites.
Kaung Thu Win, the Founder and Managing Director, is excited about the next chapter of the company. “After almost 5 years of family ownership it was important to secure the right type of trusted partnership for the future growth of Shweproperty.com, and we found that through Justin Sway.” Said Kaung Thu Win.
The amount invested has not been disclosed however it believed to be a significant 6 digit number that will fully support their growth. Kaung Thu Win also stated “We share a common commitment with our partners to deliver outstanding customer service. Now with the addition of strong financial and business experience, we will be able to reach new levels of service for our customers and the industry”.
Justin Sway said “We wanted to invest in a Founder that had passion and a sound business solution that could deliver benefits to the Myanmar people and it’s visitors; and grow with the country’s rapidly growing economy. We got that with Kaung and his team, and with the addition of our solid business experience and support, we intend to grow the business in line with the rapid growth of the country, for the founder and our investment group.
Myanmar’s real estate market has grown rapidly in line with its phenomenal GDP rate in the country over the last 3 years. Due to changing government reforms, and the announcement of free and democratic elections at the end of 2015, Myanmar has experienced billions of dollars of new foreign investment in all sectors including Mining, Oil, Power and Manufacturing. The Telecommunications and Internet sector has skyrocketed from around 1.5% internet penetration to 5% and increased to 10% mobile penetration in only around 6 months. Myanmar is definitely headed towards its targeted 50 - 60% Mobile and Internet penetration within the next 3 years, with total population of over 50 million people.
With this rapid growth, the real estate sector is booming, where the city skyline, once limited to less than a dozen tall towers, is now covered with an abundance of new buildings, condos and complexes either just completed or under construction – some of which will literally change the city landscape of Yangon within the next 1-2 years.