Name : Dan Davies
Position : Managing Director of Colliers International Myanmar
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When was you first visit to Myanmar and what was your first impression back then?
I first visited Myanmar on my birthday nearly four years ago. I had mixed views. On one hand it was exciting as I was introduced to a large project with lots of exposure however the infrastructure and traffic were less desirable.
Please tell our readers about Colliers international.
Colliers International is considered one of the top five Real Estate Consultancy firms covering most of the globe.We differentiate ourselves by being entrepreneurial and providing bespoke services for our clients.
What inspired Colliers International open its office in Myanmar?
The land of opportunity and one of the last frontier markets where we could capitalise on the ‘first in first served’ attitude. We felt the great potential to assist in Myanmar’s transition from many years of isolation.
How did you end up in your current position?
Initially, I came over on a one-month contract that turned into three months. The work continued to grow and another three-month contract was agreed. After 18 months I saw the opportunity to set up new departments and proposed a one-year trial to grow the business. This was successful and recently both myself and founder Tony Picon became shareholders.
Colliers in a number of other countries as well. What are the differences between working in Myanmar and other countries?
Myanmar has many challenges but we have seen great improvement especially in the past two years. Simply being able to do business in terms of good facilities and infrastructure and moving around the city were the biggest differences making working very inefficient. However on the upside, the business community here is much smaller and senior management of international firms are easier to access especially through various Chambers of Commerce especially the British Chamber of which I am a board member. Such opportunities can be harder in more developed markets with more competition.
What kind of services Colliers provide for local and international Companies?
We provide a full range of Real Estate services starting at Research, Valuation and Advisory, Property Management, Sales and Leasing through to Investment and Capital Markets. The full life cycle of a built asset. We also have the luxury that we can call upon support from our international offices especially for larger more complex cases.
What is the target market segment for Colliers International?
We are open to all sectors however this year we feel the Industrial and Infrastructure Sectors show the greatest potential as Myanmar has the raw materials and resources and needs to drive its economy internally. Our top 10 predictions provide more insight.
Who are your major competitors and what are your competitive strategies here?
We are focused on our long term strategy and not concerned as to any competition that may come and go. We invest our time and effort into creating a sustainable organization at the heart of Myanmar’s transition.
What is your view on in Myanmar Real Estate Sector?
The market is still very new and unsophisticated which is to be expected of a country whose doors were closed for so long. However as economic pressures increase the market is developing with more understanding and appreciation for the quality of our work.
Recently foreigners can invest or buy condo in accordance to Myanmar new Condo law.What is your view?
Our opinion is that Myanmar is not yet ready for international condo market as the real economic drive needs to come from within. Industry and commerce needs to improve first so that the wealth is spread more evenly and people can earn good salaries, have access to finance and ultimately purchase property.
What are your future expansion plans?
We have just completed our 3 – 5 year business plan. All I can say is ‘watch this space’.
From a business standpoint, what do you feel are the biggest challenges facing you and your team in next 1-3 years?
Currently we see the government still settling down and the need for focus on the economy.
How do you enjoy your days in Myanmar?
I have a young family so I enjoy spending time with them, travelling to some great locations in Myanmar or when I can play golf. I’m also involved with a number of orphanages which gives me the most satisfaction.
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