Foreign investment in the construction of and real estate investment in residential buildings is subject to joint-venture with Myanmar citizen/enterprises, with an exception for registered condominium projects, in which foreigners may own units not exceeding 40 percent of the private space/units. 
"List of Restricted Investment Activities
1. In exercise of the powers conferred under section 42 and section 100(b) of Myanmar Investment Law, with the approval of the Union Government, Myanmar Investment Commission issued the list of  restricted investment activities  as follows: [...]
(C) Investment activities allowed only in the form of a joint venture with any citizen owned entity or any Myanmar citizen :
Construction of buildings & Real estate activities with own or leased property (Development, sales and lease of residential apartments and condominiums) [...]" (Myanmar Investment Commission, Notification No. 15/2017, 'List of Restricted Investment Activities')
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"42. The following types of investment businesses shall be stipulated as restricted investment:
[...] (c) investment businesses allowed only in the form of joint venture with any citizen owned entity or any Myanmar citizen; [...]"(Myanmar Investment Law, The Pyidaungsu Hluttaw Law No. 40/2016 of 18 October 2016, Art. 42)
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"Chapter II Types of Investment: Restricted Investment Activities […] 
22. For the purpose of section 42(c) of the Law, subject to any express exception in the relevant notification, the minimum direct shareholding or interest of a Myanmar Citizen Investor in the joint venture is 20%. [...]" (Myanmar Investment Rules, Notification No. 35/2017 of 30 March 2017, Art. 22)
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"Chapter (5) -  Registration and establishment of a condominium: [...] 
15. The developer - (a) shall, upon receiving the permit issued under section 14, construct the condominium on the registered collectively owned land as prescribed; (b) may sell not more than 40% of units in a condominium to foreigners according to this law; (c) may develop a condominium on land which is state-owned or under the control of a government department or governmental organization or city development committee or any city development organization with the approval of the Union government.
[...]
Chapter (7) - The rights and duties of developers
24. The rights of developers are as follows- (a) May appoint a co-developer with the approval of the relevant management committee; (b) May sell the units in advance before the construction of the condominium is completed; (c) May sell not more than 40% of the units in a condominium to foreigners in accordance with this law. 
[...]
Chapter (8) - Rights and duties of co-owners
26. The rights of co-owners are as follows - [...] (d) (i) shall have the right to lease or mortgage the unit to a foreigner or allow a foreigner to occupy it; (ii) shall have the right to sell not more than 40% of the units in a condominium to a foreigner; [...]"(The Condomium Law, No. 24/2016, Art. 12, 24 and 26)
Myanmar Investment Commission, Notification No. 15/2017, 'List of Restricted Investment Activities'
Myanmar Investment Law, The Pyidaungsu Hluttaw Law No. 40/2016 of 18 October 2016, Art. 42.
Myanmar Investment Rules, Notification No. 35/2017 of 30 March 2017, Art. 22.
The Condominium Law, Law No. 24/2016 of 29 January 2016, art. 12, 24 and 26.
[<a href="http://www.dica.gov.mm/sites/dica.gov.mm/files/document-files/20170419_eng_42_update.pdf">Notification</a>],[<a href="http://www.dica.gov.mm/sites/dica.gov.mm/files/document-files/myanmar_investment_law_official_translation_3-1-2017.pdf">Law</a>],[<a href="http://www.dica.gov.mm/sites/dica.gov.mm/files/document-files/mir_english_0.pdf">Rules</a>],[<a href="https://www.lincolnmyanmar.com/wp-content/uploads/2017/12/The-Condominium-Law.pdf">Law</a>]