A two-day event, organized by iMyanmarHouse.com, the country’s No.1 property portal, saw more than 240 plots of land valued at USD$20 million from a 90-acre Waterfront Reclamation Project in Sittwe, Myanmar sold. The success of this event further demonstrates iMyanmarHouse.com’s ability to use its market-leading position to assist property developers to sell properties more effectively than any of its peers.
Appointed as the exclusive sales and marketing partner for the project by BXT International Co. Ltd, iMynmarHouse.com, attracted more than 3800 serious buyers and investors. The event was held concurrently in Sittwe and Yangon.
The Sittwe Waterfront Project is being jointly developed in Sittwe City by BXT International Co., Ltd. and the local state government. It is a 90-acre land reclamation project, located just beside the town-center of Sittwe, Myanmar.
According to iMyanmarHouse.com’s founder and Managing Director, Nay Min Thu, the success comes off the back of the recent signature event by iMyanmarHouse.com which saw more than 50 developers participate. iMyanmarHouse.com has held a dominant market leadership position in Myanmar since its launch, delivering more leads to its advertisers than any property website in the market. To date, iMyanmarhouse.com has used its market-leading position to sell over $180m worth of property for developers.
Over the last 2 years, iMyanmarHouse.com has evolved from its core business of being an online classifieds portal to becoming a portal that actively assists property developers and property sellers right through to the transaction. This has been made possible due to its dominant position with consumers and is further strengthened by Nay Min Thu’s deep understanding of the local market and the team’s ability to use an online presence to turn eyeballs into genuine leads.
In the Transaction: The First Portal in Myanmar to Provide Full-Scale Project Marketing Services for Developers
iMyanmarhouse.com was the first property portal in Myanmar to venture into being involved in the primary transaction and is now the first to start with full-scale exclusive project market services for developers. An increasing percentage of its total revenue is now being generated by success fees when properties are transacted via the platform.
From as early as 2015, iMyanmarHouse.com was approached by developers who wanted to adopt this model. In Q1 2016, they decided to trial the model with one project and it was a roaring success, resulting in over 40 units sold in a single weekend. Since then iMyanmarHouse.com has refined the approach and the platform to support it.
Nay Min Thu commented, “iMyanmarHouse.com is the exclusive sales and marketing partner for this project. Most people did not really know about the project before we took it on. Using our market leading position online combined with our ability to position projects in a way that make sense to local buyers. This project has become a hot topic among property buyers and investors in Myanmar.”
He shared that some customers even came down to Yangon by air to buy the plots, and many queued as early as 6 am in the morning in Sittwe.
“This is a great start for the project. We have now opened exclusive sales offices in both Sittwe and Yangon. This places us in a unique position of being able to select the types of projects we want to market on behalf of developers. We will continue marketing and selling this project as well as our other exclusive projects for developers that have now asked us to do the same for them. We are very proud to say that iMyanmarHouse.com has firmly established itself as the trusted voice for the property buyers in Myanmar,” added Nay Min Thu.