The current government, whose term will end in just a few days, is planning to lease public land under long-term contracts in busy areas of Pathein, Ayeyawady Region, to private firms and individuals.
According to the Pathein Township Development Committee, film star Kyaw Kyaw Bo applied to the committee for la ong-term lease of Maha Bandoola Park at the corner of University Street and Maha Bandoola Street near Pathein University to build a complex that will inclde a movie hall, a theatre, a shopping mall and a stadium. One square foot of the three-acre plot is worth at least Ks 300,000. According to current rental market, the plot is to be leased for over Ks 20 million per month.
"We have sent [Kyaw Kyaw Bo] the land measurements. We have asked him details about the lease. He must decide if he will rent under a BOT system or with monthly rents," said committee member Zaw Win.
Likewise, the Ayeyawady Computer Association applied to rent a plot near the park, while the Democratic Party (Myanmar) applied for a plot in Pathein to build an office, according to the township committee. (Courtesy of Eleven Myanmar)
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